Hidroelectrica Awaits ANRE Permit for 8.9 MWp Solar Park — NRG-IA

Hidroelectrica is awaiting regulatory approval from ANRE for the establishment authorization of the Țara Hațegului Solar Photovoltaic Plant (CEF), an 8.9 MWp project with an estimated average annual output of approximately 11 GWh. The investment, backed by a contract worth RON 24,412,390 (excluding VAT), is entering a key administrative phase to transition from the investment plan to actual construction. The project is being developed by Hidroelectrica S.A., Romania's largest electricity producer and the main local player in renewable generation. While the size of the solar park will not significantly alter market dynamics, it holds strategic value for the company's profile: Hidroelectrica is gradually expanding its solar footprint within a portfolio historically built on hydropower and supplemented by the Crucea wind farm. A small project in capacity, but significant in direction The Țara Hațegului solar plant has an installed capacity of 8.9 MWp—a medium-sized solar asset, yet highly relevant for how Hidroelectrica tests its expansion into photovoltaics. The estimated annual generation of around 11 GWh indicates a capacity factor of approximately 14%, a level consistent with Romania's solar profile. Relative to the contract value, the investment amounts to approximately RON 2.74 million per installed MWp (excluding VAT). This figure will be closely watched by investors in comparison with other solar projects in the company's portfolio and real market execution costs, at a time when PV technology has become cheaper, but grid connection, equipment, civil works, and integration costs remain decisive. The contract was awarded following an open tender that attracted four bids. The winning consortium consists of Electro-Alfa International S.A. and General ME.EL Electric S.R.L., with Electro-Alfa International acting as the consortium leader. ANRE authorization separates announced projects from executable ones The establishment authorization does not equate to commissioning the plant, but it is a necessary regulatory step for developing new energy capacity. At this stage, the project is vetted by ANRE, and the developer must demonstrate that the investment complies with the requirements for constructing generation capacity. For Hidroelectrica, this milestone is significant as it brings the project closer to execution. The turnkey contract covers design, equipment procurement, construction, testing, commissioning, and technical assistance during the warranty period. The announced timeline is 12 months, including 2 months for design and 10 months for execution. This schedule puts pressure on implementation. While solar projects can be built quickly, the actual pace depends on permits, equipment delivery, civil works, grid connection, and final acceptance. For the market, the critical distinction remains between announced projects and capacities that actually start generating power. Țara Hațegului joins Hidroelectrica's solar map The Țara Hațegului project is slated for construction on two plots: one of approximately 5 MW near the Subcetate hydropower plant, and another of about 3.9 MW between the Plopi and Bretea hydropower plants. Co-locating the project near existing Hidroelectrica assets could facilitate operational integration, even though solar power has a different generation profile compared to hydropower. For the company, diversification carries a clear industrial logic. Hydropower offers dispatchable generation and flexibility but depends on hydrology, rainfall, and reservoir management. Photovoltaics deliver seasonally predictable energy, with generation concentrated during daylight hours. Combining these sources can optimize the portfolio profile, especially in a market where the spread between midday and evening prices is increasingly pronounced. Hidroelectrica has launched other PV projects, including an approximately 45 MWp plant in Brăila County. In this context, the Țara Hațegului solar plant appears as a smaller but faster-moving piece in a gradual expansion into solar energy. Investors watch execution, not just strategy Hidroelectrica is one of the most closely watched listed companies on the Bucharest Stock Exchange, and investors view new projects through two lenses: return on capital and the company's ability to deliver projects on schedule. While the 8.9 MWp park will not substantially alter the company's total output, it can demonstrate execution discipline in an area where Hidroelectrica has faced pressure to accelerate investments. In recent years, the market has demanded greater diversification from the company, primarily to reduce its reliance on hydro generation. A portfolio spanning hydro, wind, and solar can secure a more robust position in a power system characterized by growing hourly price volatility, demand for flexibility, and pressure for renewable investments. The next milestone is ANRE's decision on the establishment authorization. Following this step, the project will be…