A consortium of five companies headed by private energy company Romelectro was again the only bidder for the $120-$150m hydropower development at Islaz, during the second stage of the tender.
This is the first hydropower development greenfield investment project in Romania after 1989. The deadline for submitting bids expired at the end of last week, but only one bid, that is the one of the consortium headed by Romelectro was received as it had also happened six weeks ago. The consortium also comprises Energy Holding, two construction companies i.e. Hidroconstructia SA and Energomontaj, and the Institute for Energy Studies and Consultancy.
"The review committee has one month to analyse the offer of the consortium, with the final decision to be made by late August - early September. The bid submitted is valid, but has not won yet because it is to be thoroughly analysed," Hidroelectrica officials told Ziarul Financiar.
The project at Islaz targets building a hydroelectric power plant on the Olt River (28.8 MW in installed power), set to produce about 100 GWh a year. The construction works are scheduled to begin this year and take about four years to complete.
Seven companies had bought the job specifications book for the hydropower plant at Islaz at first, but only Romelectro eventually submitted a bid. The project is on the list of the 21 programmes Hidroelectrica brought to the attention of investors in the fall of 2001, which require about $1.3bn investments, according to preliminary estimates. The companies interested to invest in Hidroelectrica's project include Italian Enel energy group (500 million euro investment projects), Mecamidi (France), Montizola (Czech Republic) and Neptun C=mpina, all of which are now in talks with Hidroelectrica over the establishment of joint ventures to operate the selected projects. adrian.mirsanu@zf.ro
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