EBRD to lend EUR 110 million to Romania's Hidroelectrica for power plant upgrade

Romania’s hydropower company Hidroelectrica SA will sign an agreement for a EUR 110 million loan from the European Bank for Reconstruction and Development, according to the company. Of this amount, EUR 70 million will come from EBRD, while EUR 40 million from a syndicated loan from Erste Bank and La Caixa, according to White & Case, the law firm which assisted Hidroelectrica. The money will be used to upgrade the Stejarul Bicaz hydropower plant, with a total installed capacity of 210 MW. The total project cost is estimated at EUR 136.9 million, according to a previous EBRD statement. Hidroelectrica manages a network of 273 hydropower plants and pumping stations with a total installed capacity of 6482 MW. In 2010, Hidroelectrica had a total generation capacity of 19.85GWh. editor@romania-insider.com