Joint venture agreement Hidroelectrica – Masdar (UAE) for off-shore wind farms and floating solar parks in Romania

During a ceremony held on Monday, March 20, 2023, in the capital of the United Arab Emirates – Abu Dhabi, the representatives of Hidroelectrica and Masdar signed a joint venture agreement that engages the two companies in a joint investment approach aimed at the creation of wind farms off-shore and floating solar parks in our country. The event was graced by the presence of the President of Romania, Mr. Klaus Iohannis, the Minister of Energy, Mr. Virgil Popescu, and his counterpart from the UAE, along with numerous high officials from both countries.

“The initialing by Hidroelectrica and Masdar of one of the most important joint venture agreements intended for energy investments in our country shows the determination in terms of making investments and, at the same time, attests the openness of the Romanian state and Romanian companies for serious collaborations, with strong partners. The experience in the development and construction of renewable energy capacities, the financial strength of Masdar, combined with the local expertise of Hidroelectrica and the company’s own resources can revolutionize both the pace of development and the size of investments in our country.Together with Masdar, we are targeting investments in the area of ​​floating photovoltaic and offshore wind technologies, the area of ​​maximum expertise of our partner and, at the same time, our area of ​​maximum interest assumed through the company’s strategic development plans,” said Bogdan Badea, the president Hidroelectrica directorate.

Masdar is one of the leading global players with projects in 40 countries and 16 years of experience in the development and construction of renewable energy production capacity, and has a portfolio of 23 GW installed.

According to data provided by the company, since 2006, Masdar has invested mainly in solar and wind energy projects, with a combined value of more than $30 billion.

Hidroelectrica is the largest producer of green energy in our country, with a market share of approx. 28%, achieved with an average annual production of 15.7 TWh delivered to the network. Also, Hidroelectrica is the most profitable Romanian company, having a portfolio of 187 hydropower plants, with a hydropower capacity of 6.3 GW. Added to all this is the Crucea wind farm, with an installed power of 108 MW.


agreementfloating solar parksHidroelectricajoint ventureMasdaroff-shorerenewable energyRomaniaUAEwind farms
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