The Romanian state has approved the establishment of a joint venture with EDF for the Tarnița-Lăpuștești hydroelectric power plant, a strategic project for national energy.

Hidroelectrica has obtained approval for the establishment of a joint venture with EDF Power Solutions International for the development of the pumped storage hydropower plant (CHEAP) Tarnița-Lăpuștești, an essential project for balancing the Romanian energy system. The shareholders have decided to maintain a 50%-50% ownership of the JVC and have approved the Shareholders' Agreement, which establishes the operational terms of the new entity.

The Tarnița-Lăpuștești project, valued at over 1 billion euros, will have a capacity of 1,000 MW and will benefit from a support scheme for energy prices. Additionally, Hidroelectrica intends to purchase the CHEAP Frasin-Pângărați plant, with a capacity of 300 MW, from Hidro Blue Energy, controlled by Iulian Dascălu. The Tarnița project has been included in the list of major public interest projects, facilitating the start of works without a new feasibility study. The collaboration with EDF will include four phases, from prefeasibility to operation, and will focus on sustainable solutions for the energy transition.