Under an agreement, signed in Zagreb on Tuesday, 25 percent of the necessary equipment will be obtained from Norway and 75 percent from Croatia.
HEP is expected to invest another 14 million kuna in the reconstruction project.
The first donation for the rebuilding of the power supply network was granted by that Scandinavian country in 1998.
Since then, the Norwegian government has donated about 80 million kuna to help finance the reconstruction of 240 transformer stations in the formerly war-hit areas.
Annually, Norway donates about 95 million kuna to Croatia for various projects ranging from mine clearance programmes, environment protection to the sorting out of land books and the rebuilding of local infrastructure.
(1 EUR = 7.4 kuna)