Hidroelectrica Tackles Hydrological Challenges with EUR 61M Energy Storage Investment
Romania's state-owned power utility, Hidroelectrica, faces a hydrological situation reminiscent of its 2015 insolvency. Despite this, the company remains profitable and stable, planning significant investment basics in energy storage and diversification.
Interim CEO Bogdan Nicolae Badea, recently reappointed after serving from 2017 to 2023, has outlined Hidroelectrica's response to the challenging conditions. The company will install storage systems on all its run-of-river hydropower plants to balance daily consumption and production peaks, potentially lowering consumer costs. Some plants will also receive rooftop photovoltaic systems as part of the extra space storage plans.
One key project involves integrating a Battery Energy Storage System (BESS) with the Iron Gate 2 hydropower plant on the Danube, valued at EUR 61.2 million. Additionally, Hidroelectrica has agreed with Romanian companies Prime Batteries Technology and Enevo Group to install a lithium-ion battery energy storage system at the Crucea Nord Wind Farm. These investment basics aim to address Romania's price caps on power, which have impacted the state budget.
Hidroelectrica's response to the current hydrological situation includes strategic investment basics in energy storage and diversification. The company aims to switch surplus electricity supply to evening peak hours, lowering daily price spreads at the power exchange. Despite the challenges, Hidroelectrica continues to serve as a stable and profitable pillar of Romania's energy system.
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