Alina Oprea • 25 April, 2023 at 3:22 PM
Hidroelectrica, the largest energy producer in Romania, could develop several green projects together with UAE-based company Masdar. According to information published on the LinkedIn account of the Masdar group, the portfolio of projects that could be developed alongside Hidroelectrica is around 2,000 MW, targeting offshore wind projects and floating solar parks. With this capacity, if it is realized, the investments will exceed the threshold of €2 billion, this being one of the largest and most complex portfolios of green projects under development.
At the end of last month, Hidroelectrica signed a joint venture agreement with the Masdar company from the United Arab Emirates for the construction of offshore wind farms and floating solar farms in Romania, at that time the size of the portfolio was not disclosed. The signing of the agreement took place in Abu Dhabi, in the presence of the President of Romania, Klaus Iohannis, the Minister of Energy, Virgil Popescu, and his counterpart from the UAE, together with numerous high officials from both countries.
Masdar is one of the most important players globally, with projects carried out in 40 countries and with 16 years of experience in the development and construction of renewable energy production capacities, and a portfolio of 23 GW installed.
Since 2006, Masdar has invested primarily in solar and wind energy projects, with a combined value of more than $30 billion.
The state company Hidroelectrica is the largest energy producer in Romania and ended 2022 with revenues of RON9.1 billion (€1.82 billion), up 40%, and with a net profit of RON4 billion (€800 million), up 32.7%.