The ship was built in the same shipyard as the Blohm + Voss MEKO 200 frigate class, on which its design was based.

The ship was delivered to the Hellenic Navy on 15 October 1992 and first sailed in Greek waters on 28 January 1993.

[2] In April 1988, the Hellenic Navy proposed and approved the four frigates of the MEKO 200 type in an effort to modernize its fleet.

After a lengthy negotiation process, the following contracts were signed to fulfill the program: On 12 May 2020, Hydra sailed off from her port in Salamis Island to participate in Operation Irini, however the ship was damaged due to unknown reasons and had to be replaced by another ship of the same class, Spetsai.

According to reports, the incident occurred while the navy frigate was helping to protect a merchant vessel in the maritime route.