Hidroelectrica and SINTEF Launch Joint Hydro Power Project

The companies Hidroelectrica and SINTEF have started the implementation of the project “Networking, exchange, sharing and transfer of knowledge, technology, experience and practices in the field of electricity production in hydropower plants”, announces Hidroelectrica in a press release.

The project “Networking, Exchange, Sharing and Transfer of Knowledge, Technology, Experience, and Practices in Hydro Power Generation” is a joint initiative between Hidroelectrica and SINTEF, funded with the support of grants provided by Iceland, Liechtenstein, and Norway through the financial mechanism available for 2014-2021.

In March of this year, initial information regarding the opening of the “Open Call for Bilateral Cooperation in the Green Transition” was published, with a presentation workshop taking place on April 23, 2024. This instrument has an allocated budget of €1.25 million under the EEA & Norway Grants 2014-2021.

The EEA and Norwegian grants are financed by Iceland, Liechtenstein, and Norway. The grants have two objectives: to contribute to a socially and economically equal Europe and to strengthen the relationships between Iceland, Liechtenstein, and Norway and the 15 beneficiary states in Europe. The goal of the grants is to reduce social and economic disparities and to strengthen bilateral relations, thereby enhancing the internal market and leading to a more prosperous Europe.

Recognizing that applying for this call is an opportunity to contribute more effectively to the energy transition in Europe by strengthening collaboration with one of the most important representatives of the Norwegian and global hydropower sector, through well-defined activities related to our common needs for improvement and development, and benefiting from funding under the EEA & Norway Grants Program, Hidroelectrica’s team of financing specialists prepared and submitted the funding application by the requested deadline of May 31, 2024.

According to the conditions stated in the call documents, Hidroelectrica and SINTEF were deemed eligible to access this funding instrument, which represents an opportunity for Hidroelectrica to obtain specialized support from an experienced European company for the development of knowledge and skills of its specialists in implementing modern solutions for optimizing the operation of hydropower plants. This will lead to increased efficiency in the production and subsequent marketing of electricity generated from renewable sources within its portfolio.

Following the signing of the Partnership Agreement between Hidroelectrica and SINTEF on October 21, 2024, and its approval by the Innovation Norway Fund Operator after the evaluation conducted by EEA & Norway Grants on October 23, 2024, the Project Contract (Grant Offer Letter) no. 2024/392262 was approved, granting non-reimbursable funding of €214,459 under the 2014-2021 Financial Mechanism: “Open Call for Bilateral Cooperation in the Green Transition.” The implementation of the project “Networking, Exchange, Sharing and Transfer of Knowledge, Technology, Experience, and Practices in Hydro Power Generation” has begun at the level of the two partner companies, Hidroelectrica and SINTEF.

Hidroelectrica, Romania’s leading electricity producer with a long history of operating hydropower plants, aims to continue developing a sustainable energy system by collaborating with the Norwegian company SINTEF, recognized as a world leader in optimizing the operation of hydropower plants.