Hidroelectrica shareholders approved today, during the Ordinary General Meeting of Shareholders (AGOA), the company’s investment strategy, which includes the development of “up to 1,500 MW of installed BESS power, respectively a storage capacity of about 6,000 MWh” and “a portfolio of new renewable projects (hydro – including CHEAP, onshore wind and solar photovoltaic) of over 2,500 MW”, according to a report submitted to the Stock Exchange.
The document proposed by the Ministry of Energy – the company’s majority shareholder with 80% of the portfolio – also includes the re-engineering and modernization of existing hydropower capacities, according to the lifespan of the hydropower units in operation.
At the same time, the company issued a press release stating that the modernization of the hydropower heritage represents the largest component of the company’s investment program.
“Hidroelectrica is carrying out investments of over 11 billion lei to re-engineer capacities totaling over 1,000 MW, implement SCADA systems and develop energy storage capacities. These investments increase the efficiency and availability of existing assets, extend their operating life and increase flexibility in the operation of the energy system.
“In parallel, the company has a portfolio of hydropower developments in advanced stages of execution, which can bring additional production capacities, dispatchable power and essential water management functions, such as flow regulation, flood mitigation and water supply. The continuation of these investments is decided on a case-by-case basis, based on updated assessments of technical opportunity, economic efficiency, financial impact, compliance with legislation and environmental conditions, as well as the contribution of each project to creating value for the company, shareholders and the National Energy System,” the press release states.
