Source: The Diplomat

INTERVIEW Christian Leonte, WALDEVAR Holding: “We target regional leadership in Central and Eastern Europe on long term”

“By 2025-2026, we are ready to deliver up to 2.25 GWp in 50 new PV parks. We will strengthen our presence in Europe but looking at the same time more closely to the US and the North of Africa

We will open the first subsidiaries outside Europe in the coming months. On longer term we target regional leadership in Central and Eastern Europe, and we will implement own smart energy management technologies SCADA – EMS,” Christian Leonte, CEO WALDEVAR Holding told The Diplomat-Bucharest.

What have been the most significant operational challenges WALDEVAR faced during its rapid expansion, particularly in scaling from local to international markets? 

WALDEVAR has had to build significant operational capacity, growing to a team of over 1000 skilled professionals and a significant dedicated fleet of specialized vehicles to support the operations at home and abroad. Managing this workforce expansion across different countries with varying labour regulations and cultural contexts presents ongoing challenges. So far, we have managed to adapt to the local context in many countries and different continents. WALDEVAR’s expansion story reflects broader challenges in the renewable energy sector, where one must balance rapid growth with supply chain reliability, regulatory compliance across multiple jurisdictions, and the technical complexity of large-scale renewable energy projects.

In your opinion, what are the biggest risks currently facing the renewable energy sector in Romania and across Europe?

Romania & Europe face a triple challenge. We need to reduce the dependences on imports, equipment from China and oil and gas from elsewhere, to accelerate reaching of the climate commitments without a negative impact to the economy and lower the energy prices by increasing renewable production capacity and help reindustrialization and electrification.

Apart from the economic and financial risks derived by the political and economic context like inflation effect on the price of materials and the rising interest rates we remark the increasing need for capable EPC companies to deliver the many large renewable energy projects that are about to start.  This is becoming the next major bottleneck in the realization of new production capacities. The insufficient grid capacity to connect new projects is a continued threat to the development of the renewable energy. The increasing delivery times for critical components like transformers and the increasing price for major components like the PV modules negatively impact the business models that were already very competitive. Let’s add to this significant list the cybersecurity risks and the extreme weather and we see the complexity of the factors to be dealt with . Last but not least, the volatility of the energy price  together with the more often  occurrence of the negative prices is not helping  the appetite of the investors for new projects.

WALDEVAR surpassed 1.5 GW of installed capacity. What are the company’s strategic targets over the next 3 to 5 years?

By 2025-2026, we are ready to deliver up to 2.25 GWp in 50 new PV parks. We will strengthen our presence in Europe but looking at the same time more closely to the US and the North of Africa

We will open the first subsidiaries outside Europe in the coming months. On longer term we target regional leadership in Central and Eastern Europe, and we will implement own smart energy management technologies SCADA – EMS.

What drove the decision to invest €10 million into the floating PV factory, and what return on investment do you anticipate?

We cannot speak about the ROI figures, but we can mention the huge potential that is generally offered by the water bodies and the substantial advantages given by this alternative to the usual utility scale PVPPs that we became used with. It is true that in Europe Floating PV is still seen as an exotic investment, but if we look at the Asian market, the exponential growth of the FPV market is certainly a trend that will impact our market.

The investment allows WALDEVAR to control their supply chain and reduce dependency on imports, particularly important given the supply chain challenges the renewable energy sector has faced. In partnership with global leader Sungrow FPV, we are building the only FPV systems factory in Europe, located in Tunari on a 40,000 m2 large site, conveniently located and  giving us a significant competitive advantage. As an important milestone, we have recently signed the contract for the largest photovoltaic floating system installed on a hydroelectric dam in Europe with Hidroelectrica. This is a pilot project that paves the way for many more to come, in Romania and abroad. Another FPV project is about to be started by us in France in the coming months.

FPV systems eliminate competition with agriculture, urban development, or natural habitats, reduce evaporation rates FPV systems can reduce algae growth by blocking sunlight, potentially improving water quality in reservoirs, and reducing the need for chemical treatments. Water’s natural cooling effect keeps panels at lower operating temperatures, improving efficiency by 5-15% compared to ground-mounted systems and have less airborne dust and debris, meaning panels stay cleaner longer and require less maintenance cleaning compared to ground-mounted installations in dusty environments. Many water bodies (reservoirs, industrial cooling ponds, irrigation systems) are located near population centers or industrial facilities, reducing transmission costs and line losses. When installed on hydroelectric reservoirs, FPV systems can share existing grid infrastructure and benefit from complementary generation patterns – solar during the day, hydro for peak demand and storage.

FPV systems can be removed without permanent environmental impact, unlike ground-mounted systems that may permanently alter land use. 

Is WALDEVAR planning to expand its investment portfolio into energy storage, hydrogen, or other complementary technologies?

Shortly yes. We plan to stay, as we do with Floating PV, at the forefront of the industry through innovation, mainly digital, and future oriented thinking. We are already implementing many BESS projects, becoming a first address for this type of project too. Hydrogen will probably come later, as this is conditioned by the necessary transportation infrastructure.

What leadership principles do you consider essential when managing large-scale energy projects and international teams?

A long-term perspective is necessary, needing to maintain vision while adapting to changing market conditions, regulations, and technologies. Clear vision setting and communication are paramount to successful operation. Decisive action under pressure is critical as the projects are very dynamic and subject to many risks. Finally, extremely important is the team building by recognizing talent, enabling collaboration and teamwork,  enforce delegation and empowerment.

Energy projects involve utilities, regulators, communities, investors, contractors, and governments. Leaders must orchestrate these diverse interests while maintaining project momentum.

Cultural intelligence and adaptive leadership are critical since international energy projects require understanding how different cultures approach time, hierarchy, decision-making, and risk. What works in Germany may not work in Romania or Poland, even within the EU framework.

Source: Energynomics

The “Nufărul” project marks a turning point for solar energy in Romania

The Nufărul Pilot Project marks a milestone for the Romanian energy market: it is the first floating photovoltaic system implemented by Hidroelectrica, a first that opens completely new operational directions for the largest national green energy producer. Awarded to WALDEVAR Energy, the project offers the chance of confirmation for innovative technologies and value chain actors in Romania. With a solid experience in EPC and large-scale photovoltaic projects, WALDEVAR is coordinating the implementation in partnership with firms specialized in marine solutions, hydrological modeling and energy integration. We spoke to Daniel Dragomir, Chief Operating Officer of the Floating PV Systems division, about the significance of this award, the technical challenges involved and the future of floating solar energy in Romania.

What made the difference in the public procurement procedure and what were the strengths of WALDEVAR Energy’s bid?

What was decisive in this project was the fact that the award was made on the basis of a mix between the technical and commercial components, with extremely rigorous requirements from Hidroelectrica. Of the two remaining bidders, WALDEVAR’s score was higher than the next best bid, confirming its competitive advantage from a technical-economic point of view.

WALDEVAR Energy was able to identify the best performing equipment and solutions, able not only to comply with the specifications, but also to offer the most benefits to the beneficiary.

What is the profile of the subcontractors involved and how their know-how contributes to the Ipotești project?

We don’t like to call them ‘subcontractors’, because in reality they are long-distance partners, top professionals in their fields. In a project as innovative as the floating photovoltaic system at Ipotești, success can only come from close collaboration and bringing together complementary expertise.

Marine Research and the DHI-SW Project bring to the project a solid background in hydrological studies and modeling, an essential component, because one of the major challenges of floating photovoltaic systems is what the naked eye cannot see: water dynamics and the impact on structures. Their know-how, confirmed by numerous international projects and years of experience, gives us the certainty that the proposed solutions are not only innovative, but also robust and safe in the long term.

For this project, we wanted to apply the same overengineering philosophy that we use for large ground projects. The behavior of water and structures over time is a major challenge. Our collaboration is based on mutual trust and a shared vision that Romania needs reference projects that raise industry standards. This is why we are not talking about subcontractors in the classic sense, but about partners who contribute decisively to the success of a unique initiative in the country.

How are floating photovoltaic projects different from conventional ones and what challenges are involved?

A floating PV park is by far more complex than a traditional ground-mounted or rooftop PV park. The aquatic environment is highly dynamic and requires special solutions, from preliminary studies to mooring systems capable of withstanding strong winds, waves, ice, level variations and snow loads. This is what makes the difference and raises engineering standards.

The complexity is also confirmed by the figures: of the 15 or so bidders who registered for the tender, only two submitted a final offer. WALDEVAR has invested heavily in the development of the FPV division, both in the EPC area and in the production of the floating systems, building a team of dedicated project professionals with solid technical expertise and total commitment to the successful implementation of every detail.

How do you assess the potential of the floating PV market in Romania?

In Romania, there are more than 3,450 lakes, of which about 2,000 are reservoirs, with a total surface area of about 2,620 km² or 262,000 hectares, representing about 1.1% of the country’s total surface area. This is a huge potential!

The implementation of the “Nufărul” project marks a turning point. I am convinced that it will pave the way for a number of new investments and investors will finally be able to see the substantial benefits of this technology on the ground. Romania has a huge potential through the diversity of its watershed – available springs, reservoirs, reservoirs, ballast ponds, fish ponds or drinking water reservoirs.

This approach reduces pressure on agricultural land and creates opportunities for a local value chain, from equipment production to operation and maintenance services. And WALDEVAR is ready to help develop a network of floating parks in our country.

What are the implementation stages for the “Nufărul” project and how do you cooperate with Hidroelectrica??

We have already received the start order and our design teams are already at work. Over the next four months, we will carry out the essential steps – hydrological studies, modeling, design and site preparation for installation. We will start anchoring in the first part of next year, and in the first quarter of next year we will install the floats.

We are constantly working with the Hidroelectrica team through a joint working group so that the technical solutions can be validated step by step. The execution period is 14 months and, due to the novelty of the project, we want to communicate the progress of the work to the general public precisely to emphasize the efficiency and importance of this system. This integrated approach ensures not only that the deadlines are met, but also that the new capacity is optimally integrated into the existing infrastructure.

Contract signed for the Nufărul Project, the largest photovoltaic floating system installed on a hydroelectric dam in Europe

Following an open tender process, Hidroelectrica has awarded Energia WALDEVAR the contract for the Nufărul Project – a pioneering renewable energy initiative that will become the largest floating photovoltaic park ever deployed on a hydroelectric dam in Europe. The project will be implemented on the Ipotești Dam, located on the Olt River, one of Romania’s key hydropower corridors.

WALDEVAR Energy marks a defining moment in its journey as an integrator of complex renewable energy solutions.

This contract, valued at 39,250,000 RON (excluding VAT), reaffirms our role as a reliable partner for delivering EPC solutions – from technical concept and design to procurement, construction, commissioning, and integration into the national grid.

Implementation timeline: 14 months
• 4 months – technical design
• 10 months – construction and commissioning

WALDEVAR Energy will deliver a full turnkey execution, including:
• Engineering and detailed design
• Procurement of high-efficiency equipment
• Installation adapted to aquatic conditions:
 ◦ Bifacial PV modules with high humidity resistance
 ◦ Modular floating structures made of HDPE or other innovative sustainable materials
 ◦ Adaptive anchoring systems to respond to water level fluctuations
 ◦ Optimized electrical configuration
 ◦ 100 kW inverters and low-loss cabling system
 ◦ Integration with the national transmission grid
 ◦ Automation and advanced real-time monitoring

“This is Hidroelectrica’s first floating photovoltaic system project and marks a success in our efforts to expand innovation and diversify our production portfolio. I would like to take this opportunity to congratulate the team members who contributed to the development of this project and wish them every success in the implementation phase,” stated Kàroly Borbély, CEO of Hidroelectrica.

“The Nufărul pilot project – the largest of its kind in the European Union – represents a functional and efficient integration between hydropower and photovoltaic energy. It is a concrete first step toward unlocking the significant solar potential of Romania’s hydropower basins. WALDEVAR Energy will implement this visionary initiative promoted by Hidroelectrica, using the most advanced technologies available and once again confirming its capabilities in innovation and leadership in the photovoltaic sector,” said Alessandro Amato, CEO of WALDEVAR Floating PV Systems.

With an installed capacity of 10 MW and an estimated annual output of 13.4 GWh, the system will play a key role in:
• Increasing Romania’s renewable energy production
• Expanding Hidroelectrica’s generation portfolio
• Sustainable utilization of water surfaces
• Developing scalable solutions for other hydropower sites
• Enhancing the synergy between solar and hydro generation

Hidroelectrica is Romania’s leader in electricity production and the primary provider of essential technological services for the stability and operation of the National Energy System. The Nufărul Project is a landmark in Europe’s green transition and a bold step forward in sustainable energy innovation, confirming WALDEVAR Energy’s capacity to lead in delivering technically advanced, large-scale renewable infrastructure.