Hidroelectrica, Masdar mull joint investment in floating solar power of 1.5 GW


Photo: iStock


September 26, 2023






September 26, 2023





Chief Executive Officer Bogdan Badea said Hidroelectrica is considering a joint investment project in floating solar panels of 1.5 GW in total with its partner Masdar from the United Arab Emirates.

State-owned hydropower plant operator Hidroelectrica, the largest electricity producer in Romania, is preparing to expand to solar power, offshore wind parks and other types of renewable energy. The utility finally conducted an initial public offering in Bucharest in July after a decade of uncertainty. Over the past year, there have been several indications of projects on a massive scale.

The latest hint came from CEO Bogdan Badea, who participated at a capital markets event organized by Ziarul Financiar in Bucharest. After Hidroelectrica established a joint venture with Abu Dhabi Future Energy Co. – Masdar from the United Arab Emirates, he now revealed they are considering an investment project in floating solar power technology, Agerpress reported.

Badea: Hidroelectrica’s primary goal is to increase profitability, implying the expansion and diversification of its electricity generation capacity

Total capacity would be about 1.5 GW, Badea added. He also said Hidroelectrica’s first goal is to increase profitability and financial performances. It implies increasing and diversifying the electricity generation capacity and staying strictly green, he underscored.

In addition to investments in the hydropower sector that are feasible with regard to environmental restrictions, the primary sectors are wind and solar power, Badea said.

Hidroelectrica owns and operates 182 hydropower plants with a combined capacity of 6.3 GW as well as five pumped storage units. Its sole wind farm, Crucea Nord, has 108 MW.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Europe’s first ammonia-fuelled power plant will be open in Ireland

Europe’s first ammonia-fuelled power plant to be built in Ireland

07 December 2023 - The use of low-carbon ammonia as a fuel can contribute to the security of power supply and the reduction of greenhouse gas emissions

montenegro electrcity export energy balance bih hpp piva

Electricity becomes Montenegro’s biggest export item

07 December 2023 - Photovoltaic output increased fivefold, however it was 50% below plan, according to the Energy Balance of Montenegro for 2024

Bulgaria EUR 8 2 million Stara Zagora hydrogen valley

Bulgaria earmarks EUR 8.2 million for Stara Zagora hydrogen valley

07 December 2023 - Minister of Innovation and Growth Milena Stoycheva said the Stara Zagora hydrogen valley project would get EUR 8.2 million in EU funds

Italy rely SMRs nuclear power revival

Italy to rely on SMRs in its nuclear power revival

07 December 2023 - Italy has earmarked EUR 135 million for nuclear energy research, aiming to focus on SMRs instead of conventional reactors