This study deals with the energy-economic contributions of the construction of the Peruć HPP, in such a way as to determine the possible annual production of the Peruć HPP, taking into account the operating regime of the Peruć HPP and the way the Peruć reservoir is used, as well as the expected average monthly elevation of the Peruć reservoir, as two basic parameters that determine the possible production of MHE Peruć. Next, the real economic value of the electricity produced at MHE Peruća is determined, and the costs of investment and operation of MHE Peruća are updated. Based on the previous input assumptions, in the second part of the study, an economic-financial analysis (liquidity analysis) of the Peruć HPP construction project was performed, as well as an analysis of the project’s effectiveness and a corresponding risk analysis, i.e. sensitivity to changes in input parameters/assumptions.