The public tender, initiated through an open bidding process, had an estimated value of RON 47.2 million (€9.47 million) without VAT. 

The winning bid, valued at RON 39.25 million (€7.88 million) without VAT, was awarded to Waldevar Energy. 

Waldevar Energy will be supported by subcontractors and third-party supporters, including Marine Research, DHI-SW PROJECT, and Makor Energy Solutions. 

The project, a first for Hidroelectrica in deploying floating photovoltaic panels, has an implementation period of 14 months, with 10 months allocated for execution.

The floating photovoltaic plant will be situated in the southern part of Romania, in Olt County, on the reservoir serving the Ipotești Hydropower Plant, which is operated by Hidroelectrica. 

This system will consist of 620 Wp photovoltaic panels, 100 kW inverters, and energy optimizers, boasting a total installed panel power of 10 MW and an estimated energy production of approximately 13.4 GWh/year.

The comprehensive turnkey execution works include technical design, equipment acquisition, assembly and installation, testing, and commissioning.