Hidroelectrica has signed the contract for a non-reimbursable financing worth approximately 43.37 million lei, obtained through the Modernization Fund, for the implementation of the project “Battery storage facility at C.H.E. Porțile de Fier II,” the company announced.
Hidroelectrica’s investment project, with a total estimated value of approximately 310 million lei, provides for the installation of a capacity of 64 MW and 256 MWh, being the largest battery storage project developed by the company to date. The investment contributes to increasing the flexibility of the energy system and the efficient integration of renewable sources, by providing balancing and regulation services.
The implementation of the project capitalizes on the existing hydropower infrastructure as well as the available connection capacities, which allows for cost optimization and acceleration of completion deadlines. At the same time, the project strengthens Hidroelectrica’s role in developing the flexibility infrastructure of the National Power System.
“The financing for the Porțile de Fier II project allows us to take a natural step towards a more flexible and more correctly balanced energy system. Energy storage is no longer an option, but a necessity, especially in a context in which production from renewable sources is increasing, while the need for balancing services is also increasing. We focus on solutions that intelligently use what we already have – the hydro infrastructure – and complement it with modern technologies, so that we can deliver energy when it is really needed. At the same time, these investments help us increase efficiency and better capitalize on each MWh produced,” said Bogdan Badea, CEO of Hidroelectrica.
Hidroelectrica is advancing the development of hybridization projects of existing assets, by integrating hydropower capacities with complementary production solutions from renewable sources and storage systems, in a unitary operational architecture. This approach allows for increased portfolio flexibility and efficiency, optimized use of existing infrastructure and maximizing the value of the energy produced, while strengthening the company’s role in ensuring the balance and adequacy of the National Power System.
Hidroelectrica is the largest producer of electricity from renewable sources in Romania and one of the most important players in the energy sector of South-Eastern Europe. With a portfolio of over 6.3 GW of installed capacity in hydropower plants, cumulated with the Crucea wind farm, the company contributes to national energy security and to achieving the decarbonization objectives set by EU policies.
Recently, the company exceeded the market value of 70 billion, a record amount for the Bucharest Stock Exchange, which confirms investors’ confidence in the company’s development plans.