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Koncar to deliver submarine cables for 26.3 mln euro to HEP-ODS

Jun 7, 2024, 4:22:37 PMArticle by Annie Tsoneva
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June 7 (SeeNews) - Croatian electrical equipment manufacturer Koncar Elektroindustrija [ZSE:KOEI] said its unit Koncar – Engineering signed on Friday a 26.3 million euro ($28.5 million) deal to deliver power distribution submarine cables to local grid operator HEP-ODS, part of state-owned utility Hrvatska Elektroprivreda (HEP).

Koncar to deliver submarine cables for 26.3 mln euro to HEP-ODS
Koncar – Engineering (KET) is supplying and installing almost 30 km of 110 kV submarine cables under a deal with the Croatian Transmission System Operator (HOPS) for replacement of submarine power cables for Croatian islands. Source: Koncar

“This procurement of submarine cables establishes the necessary infrastructure to accommodate larger amounts of energy from renewable sources, enhancing the reliability and security of the supply for 22 Adriatic islands,” Koncar said in a filing to the Zagreb bourse.

Koncar’s shares traded 0.78% lower at 254 euro on Friday afternoon on the Zagreb bourse.

($ = 0.923 euro)

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