Germans, 40 million euro loan for Fierza - Need for rehabilitation, interventions will extend the "life" of the hydropower plant by 30 years
The government will receive a 40 million euro loan for the rehabilitation of the Fierza hydroelectric power plant, one of the most important power plants in the country.
The loan agreement with the German KfW has arrived in the Parliament, while the accompanying report explains that this financing extends the previous agreement of 2022, which contained the original KfW loan and accompanying grants.
According to the report, the new loan of 40 million euros, together with a grant of 1 million euros, will enable the inclusion of additional electromechanical components, the improvement of real-time monitoring systems and the optimization of equipment for higher operational efficiency. These interventions were identified as necessary after a detailed verification, which highlighted that the initial project specifications did not capture all the technical needs of the plant.
The report also states that these interventions will contribute to extending the life of the plant for at least 30 years and increasing its overall efficiency, in line with national strategies for sustainable energy.
Meanwhile, the lack of comprehensive interventions so far has had significant consequences. According to the data included in the accompanying report, the hydropower plant's production capacity has been reduced by about 4% per year, corresponding to a loss of 53,123 GWh per year, which translates into a loss of revenue of about 2,656 million euros for the electricity sector. This negative economic impact is directly related to the failure to fully rehabilitate the turbines and main energy equipment.
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