Romania, Hidroelectrica will receive financial support from SEE and Norwegian grants

, SEE Energy News

Romanian electricity producer Hidroelectrica will receive financial support from SEE and Norwegian grants in the amount of 462,000 euros for the implementation of Poiana Rusca project.

The aim of the support is to increase the share of renewable energy production in Romania’s total energy mix, in line with EU strategy and policies by promoting renewable resources and reducing CO2 emissions, by developing the hydropower potential of the easement flow downstream of the Poiana Rusca dam and the construction of a new fully automated hydropower plant with an installed capacity of 281 kW which will generate an estimated annual energy production of 1,500 MWh.

Total cost of the project is 770,000 euros, of which 60 % will be borne by the EEA and Norwegian Grants 2014-2021, provided that Hidroelectrica proves that the entire project will be managed according to the rules of this financial mechanism.

The project was officially launched on 22 October and will be implemented by 30 June 2023.

EEA and Norwegian grants are funded by Iceland, Liechtenstein and Norway.