Romania’s Hidroelectrica plans EUR 294m investments for 2008, targets equipments upgrade

Some 700,000 million lei come from the company’s private funds. The rest of the money will come from credits and the issuing of bonds. One of the main destinations for the funds will be the hydro-electric plant in Tarnita-Lapustesti.

Hidroelectrica will also invest in the upgrade of the Portile de Fier I and II hydropower plants. The company is currently producing 30 percent of country’s cheap hydroenergy.

Oprea said the company’s 2007 profit exceeds 80 million lei. Hidroelectrica saw a 60 million lei profit in 2006.

Source: NewsIn