Hidroelectrica allocates 8.36 million lei to insure members of its management

Hidroelectrica is allocating 8.36 million lei from its own funds, excluding VAT, for professional liability insurance services intended for members of the Supervisory Board and the Directorate, including their chairs. The procurement was announced in the Electronic Public Procurement System (SEAP).

The contract will run for 12 months and will be awarded through an open tender, with the best quality-price ratio as the criterion. The deadline for submitting bids is October 19, 2026, at 3:00 p.m. The participation guarantee is 83,575 lei, while the performance guarantee represents 5% of the contract value, excluding VAT.

According to the documentation, bidders must have provided and completed similar services over the past three years, with a cumulative value of at least 5 million lei, excluding VAT. Eligible services include professional or management liability insurance covering damages or financial losses resulting from acts, errors, omissions or breaches of obligations in the exercise of management, administration or supervisory positions.

The announcement comes after Hidroelectrica reported a net profit of 2.57 billion lei in the first half of the year, up 62%, amid a 17% increase in energy production. The company is Romania’s largest electricity producer and supplier and has a portfolio based entirely on renewable energy.