It was built in 1959. It has been helping Thessalia by producing hydroelectric energy and provides the area with water. The 50 m high dam was built in 1955. The reservoir is situated in a sparsely populated, mountainous area.

The dam created the Stratos artificial lake. There are four more dams upstream from the Stratos Dam: the Kastraki Dam, the Kremasta Dam, the Sykia Dam and the Mesochora Dam.

The dam was constructed between 1981 and 1989. Four turbine units produce up to 156.7 MW of electricity.