Hidroelectrica is exploring the potential for combining hydropower generation with floating solar, battery storage and other renewable technologies, as the company steps up investments aimed at building new generation capacity and modernizing its existing assets, Radu Constantin, Chief Administrative Officer of Hidroelectrica, said at the Green Energy Conference, organized by The Diplomat-Bucharest.
“Cooperation on the Nufărul project started more than two years ago. It is a pilot project that Hidroelectrica is pursuing with great interest. We will be in a position to explore the full floating photovoltaic potential available to us,” Constantin said.
The company is currently carrying out the necessary calculations and feasibility studies, with hybridization expected to become an increasingly important part of its development strategy.
“There are calculations and feasibility studies to be carried out, but clearly this is the future: hybridization between potential batteries installed alongside hydropower plants, solar parks, and this synergy is an advantage that Hidroelectrica can use in the future,” he said.
Constantin pointed to the growing share of renewable energy in the European electricity mix as an indication of the direction of the energy market.
“At EU level, we have seen the figures for the second half of the year. Renewable energy exceeds 54%, so clearly the future is heading in this direction,” he said.
Hidroelectrica is also focusing on the infrastructure needed to integrate additional generation capacity into Romania’s electricity system.
“We are in the phase of building the future. These projects will bring new megawatts of installed capacity into the National Energy System, but we also need to have the means to distribute them and to ensure that this energy reaches the final consumer,” Constantin said.
“Regardless of how many megawatts we bring online, regardless of the projects currently being developed at the gigawatt scale in Romania, ultimately we must keep in mind that the main objective must be the final consumer,” he added.
The company is significantly increasing its investment program. Hidroelectrica has allocated RON 1.4 billion for investments this year, almost twice the RON 780 million achieved in the previous year, according to Radu Constantin.
“The objectives are very simple and very concrete. We are building for the future. A hydropower capacity refurbishment project takes five to seven years. The results will also be seen by future generations,” he said.
Constantin said Hidroelectrica has a substantial investment pipeline, with more than RON 7 billion worth of contracts expected to be launched this autumn, including projects that will be financed from the company’s own funds.
“To give you an idea in figures, starting with 2024, 2025 and 2026, we have signed contracts, and in the pipeline we still have, this autumn, more than RON 7 billion in contracts that Hidroelectrica will finance, including from its own funds,” he said.
“We will see going forward how we structure the financing side, but the investment volumes are at this level,” Constantin added.
Hidroelectrica has already signed contracts worth more than RON 1.3 billion this year, with the modernization of the Râul Mare–Retezat hydropower facility representing one of the company’s largest recent contracts.
“The most important achievement this year is the signing of the modernization contract for Râul Mare–Retezat. We signed a contract there worth almost RON 1 billion,” Constantin said.
On the renewable energy side, Hidroelectrica plans to develop a diversified generation mix combining its hydropower portfolio with solar capacity and battery storage.
“On the renewables side, we certainly have a strategic plan to combine solar capacity and batteries alongside our hydropower capacity,” Constantin said.
The company has already launched two battery projects at the Crucea Wind Farm and recently signed a contract for battery storage at the Porțile de Fier II hydropower plant.
“We already have two battery projects launched at the Crucea Wind Farm, as well as the signing of the contract for the batteries at Porțile de Fier II, which was completed two weeks ago,” he said.
Overall, Hidroelectrica’s signed green projects currently have a combined value of more than RON 600 million, Constantin said.
“To have an overall picture of the green projects that Hidroelectrica has signed so far, their value is somewhere above RON 600 million,” he said.