May 18 (SeeNews) - Romanian state-owned power producer Hidroelectrica intends to carry out feasibility studies for an offshore wind project with a capacity of between 300 MW and 500 MW, the company said.
The company hopes to diversify its portfolio of non-hydro renewable energy plants with both onshore and offshore wind capacity, as well as solar power generation, Hidroelectrica said in the proposed investment plan published on the company's website on Thursday.
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Hidroelectrica will propose to its shareholders to approve a 26.04 billion lei investment programme spanning until 2037, the company also said last week. Out of the total amount, 7 billion lei would be needed for investments scheduled to be made between 2020 and 2025.
Hidroelectrica estimates that an offshore wind project of 300 MW could be built at a total cost of about 2.88 billion lei ($644 million/595 million euro). It could be commissioned in 2026 and be able to generate some 998.64 GWh of electricity per year based on an average capacity factor of 38%.
On the onshore wind front, the company has plans to add between 300 MW and 500 MW, which would require an investment of RON 1.87 billion at the low end of the range. It estimates that a 300-MW onshore wind park would be able to produce some 683.28 GWh per year based on an average capacity factor of 26%. The plant could be up and running in 2025.
Hidroelectrica also intends to deploy between 50 MW and 100 MW of solar power generating capacity, depending on the result of feasibility studies. The plan envisages an investment of around RON 193.5 million for a 50-MW project, which would produce an average of 80 GWh a year, starting in 2023.
Hidroelectrica is 80.06% owned by the Romanian state, as investment fund Fondul Proprietatea owns 19.94%.
($=0.9249 euro)