x
Newsletter Image
STAY UP TO DATE WITH OUR LATEST NEWS
subscribe

Your email is safe with us

x
Newsletter Image
STAY UP TO DATE WITH OUR LATEST NEWS
subscribe

Your email is safe with us

State mulls scrapping development of 1 GW hydro plant

September 10, 2016 | Comments: 0Author:

Photo: Pixabay
State mulls scrapping development of 1 GW hydro plant

The government in Bucharest is considering the option to abandoning a renewable energy project worth EUR 1 billion. Energy minister Victor Grigorescu said Romania’s cabinet is looking for alternatives for hydro pumped storage unit Tarnița – Lăpuștești, designed for 1 GW, as quoted by News.ro on September 7. There are prospects to switch to several small hydropower plants, he added and revealed EUR 3 million have already been spent.

Furthermore, a feasibility study from 2006 said the public–private project was a failure, said Ovidiu Agliceru, chairman of the board of Hidroelectrica SA. Grigorescu stated the upcoming national energy strategy may show a way forward. The power plant was intended to balance the energy system, especially with plans to launch two nuclear reactors in Cernavodă.

Chinese contractors were lining up to finance the project and return the funds through sales of electricity. The option with several units would open separate projects for investors.