The joint venture “will be established by the two parties for the purpose of developing the Tarnita Pumped-Storage Hydropower Plant (PSHPP) Project – the Proposed Investment/ Opportunity”, according to Hidroelectrica’s convening notice of the shareholders’ ordinary general meeting.
The JVC will be equally held by Hidroelectrica and EDF, each with a 50% ownership stake.
The Tarnita-Lapustesti Hydropower Plant, valued at EUR1 billion, would become Romania’s largest “natural battery,” with an installed capacity of 1,000 MW. Senators argued that after six failed feasibility studies, it is time for the state to take action and stop wasting time and money on unnecessary procedures.
The shareholders’ agenda also includes the following items: “the acquisition of legal advisory services regarding Hidroelectrica’s share capital increase process; the approval of documentation prepared for obtaining the certificate attesting the ownership right over the land assets included in the patrimony of Hidroelectrica, related to six enclosures, five located in Maramures County and one located in Bihor County; the approval of the acquisition of legal advisory services in connection with Hidroelectrica’s objective to acquire, upon commissioning, the Frasin–Pangarati Pumped-Storage Hydropower Plant, with an installed capacity of 300 MW, to be developed and constructed by Hidro Blue Energy S.R.L.; informing the general meeting of shareholders about the Supervisory Board’s approval of the new technical-economic indicators for several projects,” the company announced in a stock market report.
Hidroelectrica has a market capitalization of RON56 billion after its shares have traded 2% higher over the last year, amid deals worth RON1.5 billion. The energy ministry owns little over 80% of the company’s share capital.
Hidroelectrica reported revenues of nearly RON6.7 billion for the first nine months of 2025, down 7% year-over-year, and net profit of RON2.3 billion, down 34% year-over-year.