Romanian hydropower energy producer Hidroelectrica receives financing for large battery storage project

Hidroelectrica (BVB: H2O), the majority state-owned hydropower energy producer that ensures a large part of Romania’s electric energy, has signed the contract for a non-reimbursable financing worth RON 43.37 million obtained through the Modernisation Fund for the largest battery storage project developed by the company to date.

The implementation of the project leverages the existing hydropower infrastructure as well as the available grid connection capacities, which allows cost optimization and accelerated implementation timelines. At the same time, the project strengthens Hidroelectrica’s role in developing the flexibility infrastructure of the National Power System, the company stated.