Green Forum • 27 February, 2024 at 8:00 AM
Hidroelectrica, Romania's largest green energy producer, announced plans to add at least 500 MW of renewable energy capacity by 2027. This was outlined in the Management Plan 2023-2027 presented to shareholders during the General Assembly held on March 25th, 2024.
The overarching goal, set forth by the Ministry of Energy for the period 2023-2027, is for Hidroelectrica to emerge as a leading force and pivotal player in Romania's energy transition.
The Ministry of Energy has outlined key objectives and growth strategies for Hidroelectrica during this period:
- Maintaining Operational Efficiency: The ministry aims to sustain the optimal availability of existing hydroelectric plants through modernization, technological advancements, and rigorous maintenance.
- Prioritizing Investment Projects: Completion of ongoing investment initiatives within Hidroelectrica's hydroelectric plant portfolio is a top priority.
- Expanding Renewable Energy Capacity: The ministry seeks to expand the production portfolio by incorporating new capacities for renewable energy production, both domestically and through potential acquisitions, including regional expansion.
- Diversifying Revenue Streams: There is a focus on diversifying revenue streams through vertical integration, reinforcing the Company's supply portfolio.
- Ensuring Financial Stability: The ministry aims to ensure the stability and predictability of Hidroelectrica's financial performance, alongside the commitment to allocate 90% of net profits as dividends to shareholders.
- Upholding ESG Standards: Hidroelectrica is committed to upholding best-in-class Environmental, Social, and Governance (ESG) standards, aligning with those observed by listed companies to meet investor expectations.
Hidorelectrica wants to become a key player among European renewable energy producers.
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