Romanian electricity producer Hidroelectrica received shareholders’ approval for the conclusion of joint venture companies with UAE-based Masdar.
The statement from the company said that the contract with Masdar was signed for the purpose of developing, investing, building and operating renewable energy projects in Romania.
In early 2023, Romanian Minister of Energy Virgil Popescu said that electricity producer Hidroelectrica and UAE-based renewables developer Masdar will cooperate on the projects for the production of electricity from renewable energy sources.
According to him, the two companies have already started technical discussions regarding joint projects, without providing any details on exact projects.
Minister Popescu reminded that state-owned Abu Dhabi National Energy Company is interested in the development of energy transportation infrastructure projects in Romania.
Following his visit to United Arab Emirates, he said that joint actions in the field of energy were discussed, such as the operationalization of new natural gas transport routes from the Gulf area, LNG import, renewable energy production and the development of safe and sustainable energy technologies with the aim to increase energy efficiency and the use of hydrogen in the energy mix.
