Image for illustrative purposes

Croatian engineering group Končar has secured a new contract in Norway through its subsidiary Končar – Generators and Motors, signing an agreement with Norwegian utility Hafslund Kraft for the supply of a generator for the Hemsil 3 hydropower plant.

The scope of work includes the design, manufacturing, delivery, installation and commissioning of a 99 MVA generator. The contract also covers spare parts, special tools and training for the customer’s operational team. The project involves broader upgrades, including civil works, hydromechanical and mechanical equipment, a new Francis turbine, crane systems and electrical equipment. Completion is scheduled for spring 2029. The contract value has not been disclosed.

According to a statement published by Končar, the agreement represents a strategic partnership and strengthens the group’s position in the Nordic energy market. Norway operates more than 1,600 hydropower plants, many of which were built between 1960 and 1980 and are now entering phases of modernization or equipment replacement.

In parallel with this contract, Končar expects its order backlog to exceed $2.7 billion (€2.5 billion) by year-end, with projected annual revenues surpassing $1.5 billion (€1.4 billion) in 2026. Exports are expected to account for more than 70% of total revenue. Planned capital investments are set to exceed $152 million (€140 million).

Gordan Kolak, President of the Management Board of Končar, said the company aims to continue expanding internationally while strengthening its portfolio of digital and advanced technology solutions.

Source: poslovni.hr