The European Bank for Reconstruction and Development (EBRD) is providing a syndicated loan of about €123.2m ($164m) to Croatia’s electricity utility Hrvatska Elektroprivreda, to finance the construction of the Ombla hydro power plant.

Romanian firm Hidroelectrica is planning to invest approximately RON1.25bn ($383.69m) in 2012 to build new hydropower plants and upgrade existing ones.

The company aims to hold a majority stake in a project to construct the Tarnita-Lapustesti hydropower facility, Bloomberg reported. The Tarnita-Lapustesti plant will have a power generating capacity of approximately 1,000MW.

The power plant, which will cost about EUR1.2bn, is expected to be built through a public-private partnership. Hidroelectrica is Romania’s state-owned energy company that is engaged in power generation through renewable sources of energy