Energy group Hidroelectrica has signed the contract for its first floating photovoltaic project, Nufārul, marking a major step in Romania’s renewable energy development. The signing took place on Monday, July 21, and involves an investment of RON 39.25 million (around EUR 7.75 million, excluding VAT).

Developed by Waldevar SRL, Marine Research, DHI-SW Project SRL, and Makor Energy Solutions, the project will be built on the Ipotești reservoir in Olt county.

With a completion timeline of 14 months, Nufārul will become the largest floating solar installation on a reservoir in Europe, according to Hidroelectrica.

The photovoltaic system consists of 620 Wp solar panels, 100 kW inverters, a total installed panel capacity of 10 MW, and an estimated annual energy production of around 13.4 GWh, News.ro reported. Connection to the National Energy System will be made through four transformer stations linked to the existing substation of the Ipotești Hydropower Plant.

The project is a first for Hidroelectrica and reflects the company’s broader strategy to expand its portfolio of renewable energy sources.