The Romanian Government is reportedly discussing with four South Korean companies about reviving the 1GW pumped hydropower project at Tantita-Lapustesti.

The project was abandoned a couple of years ago as not financially viable but sketched as desirable in the latest version of the national energy strategy draft.

The project is estimated to cost around EUR 1 bln.

The four Korean companies are Busan Korea Biotechnology, Korea Western Power, Hyundai Engineering and GE Global Services GmbH Korea Branch, a division of the American giant General Electric.

"The intention is to conclude a Memorandum of Understanding on the construction and operation of the hydroelectric plant, for which a draft has been drafted. A Non-Disclosure Agreement has been signed," sources familiar with the talks told Profit.ro.

Without being specifically identified, the latest version of the national energy strategy says that after 2030 pumped hydropower plants would be "an opportunity", and the capacity needed for such installations is estimated at between 850MW and 1.1GW by 2050.

More ambitious decarbonisation policies will require pumped hydropower plants with higher capacities, the strategy reads.

(Photo: Hupeng | Dreamstime.com)

andrei@romania-insider.com