Romania’s water power company Hidroelectrica sees EUR 9.5m profit in H1

The company’s revenues stood at 950 million lei. Hidroelectrica saw a 60 million lei profit in 2006. Oprea noted the company foresaw the decrease in the energy production, yet the contracts on the open market were re-negotiated and prices increased 20 percent.

Hidroelectrica produced 9 TWh of energy in the first six months of the year, according to Oprea. The official noted the company will produce 20 percent less energy because of the drought.

The company will start operating 26 new power production units this year, at a total cost of 957 million euros. These will boost the installed power by 392 MW and will boost power production by 1,400 GWh per year. Some 267 million euros will be spent by 2008.

Hidroelectrica now operates 304 power producing units. Last year, Hidroelectrica supplied 18,235 GWh at an installed power of 6,325 MW. The company wants to revamp power units at a total installed power of 3,417 MW, by 2016.