Romanian electricity producer Hidroelectrica has taken major strategic steps to expand its energy storage portfolio after shareholders approved new pumped-storage hydropower projects at the latest extraordinary general meeting.
Shareholders authorized a joint venture with French EDF Power Solutions International to advance the long-planned Tarnita-Lapustesti project, a 1,000 MW pumped-storage facility considered one of Romania’s most important future balancing assets. The partnership will be structured on an equal 50/50 ownership basis, with the current approval establishing only the legal and governance framework; the final investment decision will depend on the availability of revenue support mechanisms.
In parallel, shareholders approved preparatory steps for a second pumped-storage project. Hidroelectrica authorized due-diligence procedures and engagement of legal advisers for the potential acquisition, after commissioning, of a 50% stake in HPP Frasin-Pângarati, a 300 MW project being developed by Hidro Blue Energy, controlled by IULIUS Holding Developments.
The Frasin-Pângarati facility is designed as a large-scale energy storage asset, using surplus electricity to pump water to an upper reservoir and releasing it back into the system during periods of high demand. Project documents indicate that Hidroelectrica and the private developer plan a long-term, equal partnership, sharing management responsibilities and financial results.
Investor reaction was positive, with Hidroelectrica shares reaching a new intraday record of around €26.8 per share, before closing at roughly €27.1. The company’s market capitalization climbed to approximately €12 billion, reflecting investor confidence in its growing role in Romania’s energy storage and network balancing infrastructure.
