Romania’s state-owned hydropower company Hidroelectrica will be branching out into the production of other types of renewable energy such as wind, after the signing of an agreement for the acquisition of shares in the Romanian subsidiaries Crucea Wind Farm S.A. (“Crucea Wind Farm”) and STEAG Energie Romania S.R.L (“STEAG Energie Romania”).
Renewables at the centre of policy
Hidroelectrica is the largest producer of renewable energy in Romania, being the main provider of ancillary services and having an important role in connection with the security of the National Energy System (SEN). In 2019, Hidroelectrica produced 15.2TWh of the 209 hydroelectric power plants in operation, with a total installed capacity of 6.4GW. With a turnover of EUR 873 million, EBITDA of EUR 613 million and a net profit of EUR 290 million, Hidroelectrica is among the largest and most valuable state-owned company in Romania.
With the latest acquisition Hidroelectrica focuses on diversifying production by adding high quality renewable capacity to its portfolio, as part of the company’s recently approved development strategy. The company reaffirms its goal of remaining 100% green throughout the portfolio diversification process.
Developed by STEAG and commissioned in 2014, Crucea Wind Farm is one of the most modern and best-maintained onshore wind farms in Romania, with an installed capacity of 108 MW.
This latest expansion of Hidroelectrica will play a key role in Romania’s transition to more environmentally friendly types of energy production. Such developments are crucial as the country is looking for ways to make achieving their climate targets more feasible over the coming years.
Source: TheMayor.EU
