Europe |
Right: The European Investment Bank is supporting hydropower expansion in Upper Austria Photo by Vio Dudau courtesy of Energie AG
decades, 78% of the renewable energy mix comes
for hydro. Indeed, Austria has set itself the goal of working entirely with renewable energies by 2030 and in order to achieve this, an additional 30,000GWh of renewable energy will be needed each year. Therefore the country expects to install an additional 10,500MW of photovoltaic, 4500MW of wind power and 1500MW of hydropower capacity. Progress is already remarkable, the authors add, as Austria had reached 80% of the target by 2022.
European Investment Bank The European Investment Bank (EIB) has granted
Below: The European Investment Bank and Energie AG sign agreements for hydropower financing in Austria Photo by Vio Dud Dudau courtesy of EIB
Energie AG Oberösterreich in Upper Austria a financing package of up to €400million for hydropower expansion. Energie AG plans to invest in a new pumped storage power plant in Ebensee and a planned run-of-river hydropower plant in Roitham/ Traunfall. The Ebensee pumped storage power plant has been described as a milestone in the transformation of energy supply in Upper Austria, and will act as a green battery. An additional €80million in financing for the Traunfall run-of-river power plant is intended to replace three hydropower plants at the end of their useful life. The EIB is also providing advisory support to Bulgarian national electricity company NEK, in
preparing the construction of two large, pumped storage hydropower plants in the southwestern part of the country. It will examine the technical feasibility and economic viability of the projects as well as assess their benefits and risks The pair of plants, named Batak and Dospat, will each add generation capacity of approximately 800MW and expand storage capacity. Located at hydropower cascade dams and reservoirs in southwest Bulgaria, they are projected to become operational by 2032. “The EIB supports the development of strategic sustainable investment projects in the energy sector across the European Union and beyond,” said EIB Vice-President Kyriacos Kakouris. “We are pleased to provide the bank’s expertise in assessing the feasibility and the viability of the two projects, which can significantly impact Bulgaria’s energy mix and enhance the stability of its power grid while reinforcing the overall European energy grid infrastructure.” NEK CEO Martin Georgiev spoke about how this is an important tool, helping to unlock the value hydropower brings to the energy transition. “The benefits and social significance of investing in such sustainable infrastructure are undeniable and we esteem it a privilege to have the expertise and support of the EIB and the European institutions involved in the process,” he said.
Bulgaria’s power company NEK operates 31
hydropower and pumped-storage hydropower plants, with a total installed generating capacity of 2739MW and a pumping capacity of 932MW. The total capacity of reservoirs operated by NEK accounts for 55% of the controlled water resources in Bulgaria.
Hydro woes More recent figures have shown how a lingering
drought across Europe has hit hydropower production. Hydroelectricity supplies were reduced by 13%, down 48.5TWh, during the first five months of 2025 in comparison to the previous year. Data for the month of May also show how hydro reached an eight-year
14 | October 2025 |
www.waterpowermagazine.com
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