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.
Hidroelectrica’s investment project, with a total estimated value of approximately RON 310 million, includes the installation of batteries with a capacity of 64 MW and 256 MWh, the largest battery storage project developed by the company so far.
According to the company, the investment contributes to increasing the flexibility of the energy system and to the efficient integration of renewable sources by providing balancing and regulation services.
"The financing for the project at Iron Gates II allows us to take a natural step toward a more flexible and properly balanced energy system. Energy storage is no longer an option, but a necessity, especially in a context where production from renewable sources is increasing, while the need for balancing services is also growing," said Bogdan Badea, CEO of Hidroelectrica, cited by Digi24.
Hidroelectrica is the largest producer of electricity from renewable sources in Romania and one of the most important players in the energy sector of Southeast Europe. With a portfolio of over 6.3 GW installed capacity in hydropower plants, combined with the wind farm at Crucea, the company contributes to national energy security and to achieving the decarbonization objectives set by EU policies.
Recently, the company exceeded a market value of RON 70 billion, a record amount for the Bucharest Stock Exchange.
(Photo source: Inquam Photos/Octav Ganea)
