Electricity

Hidroelectrica to have EUR 800 million budget for HPP upgrades by 2020

IPO

Photo: Pixabay

Published

September 28, 2018

Country

Comments

comments icon

0

Share

Published:

September 28, 2018

Country:

Comments:

comments icon

0

Share

State-owned power utility Hidroelectrica will have EUR 800 million at its disposal by 2020 to modernize the hydropower plants (HPPs) it currently operates, according to Romania’s draft Energy Sector Strategy for the period 2018-2030 with projections until 2050, local media reported.

The strategic document also envisages EUR 2.5 billion in investments for completing new hydropower plants by 2030, but not all of this will be realized by Hidroelectrica, the biggest power producer in Romania. New generation facilities will increase the country’s installed capacity at hydropower plants from 6,741 MW to 7,490 MW.

Hidroelectrica currently operates hydropower plants with a total installed capacity of 6,400 MW.

A week ago, a public debate on the draft Energy Sector Strategy 2018-2030 was launched.

The document mentions strategic investments including two new units, 3 and 4, at the Cernavoda nuclear power plant, a hydropower plant called Tarnita-Lapustesti, a 600 MW coal-fired power plant at Rovinari, and the hydro-technical complex TurnuMagurele – Nicopole.

The strategy estimates investments in the entire energy sector by 2030 at between EUR 15 billion and EUR 30 billion.

Ten days ago, Hidroelectrica announced plans to sign a cooperation agreement with Austria’s electricity producer Verbund. The cooperation will involve joint investments in Hidroelectrica’s unfinished projects.

In May, the company’s CEO, Bogdan Badea, said that Hidroelectrica was considering acquisitions of wind and solar plants in Romania, as well as energy companies abroad.

Energy Minister: Romania aims to become an important regional player

At a presentation of the draft Energy Sector Strategy for 2018-2030 with projections until 2050, Energy Minister Anton Anton said that Romania wants to strengthen the energy sector and to become an important regional player.

Romania has reached a critical point in recent years regarding future energy professionals, Anton said, noting that it is not enough to invest in new production facilities if there is no qualified staff for their operation.

Anton also said that the draft Energy Sector Strategy is in line with the European Union’s vision on the future structure of the national energy sector.

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

IEA Renewables cover almost all electricity demand growth 2027

IEA: Renewables to cover almost all electricity demand growth through 2027

17 February 2025 - A sharp increase in global electricity demand is expected in the next three years, IEA said and estimated that renewables would cover 95%

Petrol NGEN start strategic partnership in advanced energy solutions

Petrol, NGEN start strategic partnership in advanced energy solutions

17 February 2025 - Petrol and NGEN have joined forces in digitalization for energy management and adaptation to fluctuations in power production and consumption

EDP Renewables inaugurates two wind power plants in Greece

EDP Renewables inaugurates two wind power plants in Greece

15 February 2025 - EDP Renewables declared its two new wind farms in Central Greece and Thessaly open, adding almost 70 MW to the transmission grid

Serbia and Hungary continue to strengthen energy cooperation

Serbia, Hungary continue strengthening energy cooperation

14 February 2025 - Minister Đedović Handanović and her Hungarian counterpart Péter Szijjártó discussed strengthening bilateral energy cooperation