Hidroelectrica resumed the auction after consulting with potential contracting companies, resolving issues from prior tenders, and updating costs to correspond with new market values, it said in a press release on Monday.
The new tender follows five failed tender calls for the Vidraru HPP, with the last one having been cancelled in November 2023 after only one bidder submitted an offer, Romanian news portal economica.net reported at the time.
Extensive market research was carried out to accurately gauge the project's value and align contractual clauses with international practice so that both domestic and international bidders are attracted.
“We know that it is an extremely complex project, with multiple variables and risks, but it is of the utmost importance and priority both for Hidroelectrica and for the national energy system. We trust that these changes [...] will lead to the successful award of the contract and the effective completion of the works,” said Karoly Borbely, CEO of Hidroelectrica.
The project involves upgrading equipment, reinforcing structures like the dam, and constructing a waste storage facility. It also includes implementing an automatic control system, conducting technical assessments, and managing the refurbishment process.
Bidders may start submitting offers on April 2, according to data published on the country's public procurement portal, SEAP. The contract duration is 90 months, including a six-month warranty.
Vidraru HPP has an installed capacity of 220 MW with an average annual energy output of 400 GWh per year, data from Hidroelectrica’s website shows.
The company's preliminary consolidated net profit rose by 42% on the year to 6.337 billion lei ($1.383 billion/1.274 billion euro) in 2023, it said in an unaudited financial report filed with the Bucharest Stock Exchange, BVB, on Tuesday.
Hidroelectrica is Romania’s largest renewable energy producer, operating 187 HPPs with a cumulative installed capacity of 6.3 GW and a wind farm of 108 MW. Its shares traded 1.05% higher at 125.3 lei as at 1551 CET on Tuesday on the BVB.
Jul 2, 2024
