At its inaugural investors meeting following its listing on the Bucharest Stock Exchange in July 2023, Romanian electricity producer Hidroelectrica announced an ambitious investment plan, aiming to allocate approximately €280 million over the next four years for upgrades, modernization, and acquisitions.
CEO Karoly Borbely emphasized that this consolidation and investment strategy will enhance the company’s long-term value. He noted the importance of continued investments in retooling, maintenance, and modernization of facilities, as well as diversifying the production portfolio through renewable project acquisitions and increasing storage capacity.
In the first nine months of 2024, Hidroelectrica reported gross electricity production of 11,344 GWh, a 22% decrease compared to the same period in 2023, with hydroelectric generation accounting for 11,131 GWh. For the third quarter of 2024 alone, the company estimated a gross electricity production of 2,829 GWh, reflecting a 21% decline from the previous year.
Additionally, wind electricity production totaled 212 GWh from January to September 2024, marking a 13% decrease year-on-year. In the third quarter, wind generation was recorded at 59 GWh, also down by 21% compared to the same period last year.
