Renewables

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

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Published

September 26, 2023

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Published:

September 26, 2023

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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 partnership 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.

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