Movhera - Hidroeletricas Do Norte, S.a.

What Movhera - Hidroeletricas Do Norte, S.a. does

Movhera - Hidroeletricas Do Norte, S.A. is a Portuguese hydroelectric power generation company established in 2020 as the acquisition vehicle of a consortium formed by ENGIE, Crédit Agricole Assurances and Mirova. In December 2020 it purchased six hydroelectric concessions from EDP, comprising 1.7 GW of installed capacity and approximately 3.2 TWh of average annual generation, making it the second-largest hydropower operator in Portugal and accounting for more than 10% of national renewable installed capacity. The portfolio consists of three run-of-river dams on the Douro River (Miranda 363 MW, Picote 433 MW, Bemposta 439 MW) and three pumped-storage facilities (Baixo Sabor 144 MW, Feiticeiro 38 MW, Foz Tua 274 MW), with a combined 450 MW of pumping capacity and a weighted-average remaining concession tenure of 45 years. Generation from the portfolio is estimated to avoid around 0.9 million tonnes of CO2 emissions per year relative to fossil-fired dispatch.

The company is structured as an asset-holding and portfolio-management vehicle rather than a vertically integrated utility. Day-to-day operations, maintenance and technical management of the six plants are outsourced to a Portuguese subsidiary of ENGIE, while Movhera retains a lean in-house team focused on commercial dispatch, asset strategy, regulatory and stakeholder relations, with headquarters in Miranda do Douro following a March 2021 relocation from Porto. Electricity is sold into the Iberian wholesale market (OMIE) and ancillary services such as reserves and balancing are provided to Rede Eléctrica Nacional (REN), the Portuguese transmission system operator.

Revenue is generated on a pool-and-services basis: energy volumes times realised Iberian wholesale prices, plus compensation for ancillary services supplied to REN. There are no retail customers, no PPA offtakers disclosed, and no consumer-facing activities; the business model is that of a long-duration infrastructure asset whose cash flows are a function of hydrology, Iberian power prices and system-service demand.

Name

Movhera - Hidroeletricas Do Norte, S.a.

Legal name

Movhera - Hidroeletricas Do Norte, S.a.

Website

https://movhera.pt

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Movhera is a Portuguese hydropower operator owning six hydroelectric concessions (1.7 GW, 3.2 TWh/year) on the Douro and Tua rivers, selling electricity into the Iberian wholesale market and ancillary services to REN, with day-to-day operations outsourced to an ENGIE subsidiary. It is owned by ENGIE, Crédit Agricole Assurances and Mirova.

Ownership category

akta.pro rank

Product category

Hydropower Generation

NAICS

Hydroelectric Power Generation (221111)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Run-of-River Hydroelectric Generation (EUACAEAA)

akta.pro secondary industries

Pumped-Storage Hydroelectric Generation (EUACAEAC), Hydropower Grid Services & Dispatch Optimization (Ancillary Services, Scheduling) (EUAMADAH)

Keywords

• Hydropower generation
• Pumped storage energy
• Renewable electricity wholesale
• Grid ancillary services
• Carbon-neutral energy

Headquarters

HQ city

Porto Carreiro

HQ country

Portugal

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Others

Revenue model

1. Wholesale Electricity Sales: Movhera generates revenue by selling and purchasing electricity in the wholesale energy markets. Electricity produced from its hydropower plants is sold into the Portuguese and Iberian energy grid at market prices.
2. Grid Ancillary Services: Movhera provides complementary services to REN (Redes Energéticas Nacionais), the national grid operator, enabling response to load variations and grid balancing. This includes dispatchable flexible power from pumped storage stations.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Movhera generates renewable hydroelectricity from six dams on the Douro River and its tributaries in northern Portugal and sells it into Iberian wholesale energy markets. It also provides grid balancing and ancillary services to REN, leveraging 450 MW of pumped storage capacity to deliver dispatchable flexible power.

Product overview

Movhera operates a portfolio of six hydroelectric power plants in northern Portugal, consisting of three run-of-river dams (Miranda, Picote, Bemposta) and three pumped storage facilities (Baixo Sabor, Feiticeiro, Foz Tua). The combined portfolio has a total installed capacity of 1.7 GW and produces approximately 3.2 TWh of renewable energy per year. The company provides electricity trading services and ancillary services to the national grid operator REN, offering flexible power and grid balancing capabilities.

Differentiator

Problem solved

Functional benefit

Products and services

• Miranda Dam Run-of-river hydroelectric dam on the Douro River with a concrete buttress dam, providing a total installed capacity of 363 MW of renewable generation.
• Picote Dam Run-of-river hydroelectric dam on the Douro River, the first dam built in Portugal on the Douro (completed in 1958), with a total installed capacity of 433 MW.
• Bemposta Dam Run-of-river hydroelectric dam on the Douro River with a concrete arch dam, situated near the border with Spain, with a total installed capacity of 439 MW.
• Baixo Sabor Dam Pumped storage hydroelectric dam on the Sabor River (a tributary of the Douro), with reversible Francis turbines providing 144 MW of installed capacity and large-scale storage capability.
• Feiticeiro Dam Pumped storage hydroelectric dam on the Sabor River, operating in conjunction with Baixo Sabor, with a gravity dam and a reversible hydroelectric plant providing 38 MW of installed capacity.
• Foz Tua Dam Multifunction hydroelectric plant on the Tua River with reversible Francis turbines, providing 274 MW of installed capacity and serving as pumped storage capacity for grid flexibility.
• Wholesale Electricity Sales Sale and purchase of electricity generated by Movhera's six hydropower plants into the Iberian wholesale energy markets at market prices.
• Grid Ancillary Services Complementary balancing and grid services provided to REN (Redes Energéticas Nacionais), the Portuguese national grid operator, including dispatchable flexible power from pumped storage stations to support grid stability.

Quantifiable outcome

• Contributes more than 10% of Portugal's renewable energy capacity
• +3 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Eight partnerships are on record, tiered minor.

• Cruz Vermelha Portuguesa (Portuguese Red Cross)minorOthers · 19 October 2023As part of its Social and Corporate Responsibility Policy, Movhera supports the Portuguese Red Cross's Murça and Alijó sub-delegations and the Bragança delegation with an annual contribution of €20,000 (2024–2027). Support is awarded via annual application process.
• Cruz Vermelha Portuguesa - Delegação de MirandelaminorOthers · 11 July 2023Movhera delivered an electric vehicle to the Mirandela Delegation of the Portuguese Red Cross, which covers the municipalities of Mirandela, Vila Flor, and Carrazeda de Ansiães, supporting social and humanitarian activities including the 'Censos Sénior+' project.
• Just a ChangeminorStrategic or Co-development Partner · 13 July 2022Movhera signed a partnership agreement with Just a Change (a non-profit association that renovates homes for people in need in Portugal) covering the 'Camp In' volunteer program in three municipalities of Trás-os-Montes and Alto Douro. The partnership aims to combat energy and housing poverty by renovating 14 homes during August and mobilizing local agents to identify cases of housing poverty.
• ADRVT - Agência de Desenvolvimento Regional do Vale do TuaminorStrategic or Co-development Partner · 12 December 2021Movhera signed a memorandum of understanding with ADRVT and became a business member of the association, reaffirming its commitment to supporting ADRVT's activities and the success of the Tua Mobility Plan.
• ALCM - Associaçon de la Lhéngua i Cultura MirandesaminorOthers · 14 July 2021Movhera collaborated with ALCM (the Mirandese Language and Culture Association) to launch the Mirandese-language version of its corporate website, confirming its commitment to the culture and development of the region.
• Bombeiros Voluntários de Torre de MoncorvominorOthersMovhera supported the Torre de Moncorvo Volunteer Firefighters Association with €20,000 for the renovation of their telephone exchange, as part of annual support (up to €20,000 per year) for fire brigades in Trás-os-Montes and Alto Douro.
• Associação de Municípios do Baixo Sabor (AMBS)minorStrategic or Co-development PartnerMovhera signed two protocols with AMBS: one supporting the 'Junto à Terra Baixo Sabor' environmental education project for students, and another supporting local entrepreneurship. A memorandum of understanding was also signed revising the environmental compensation payment to the Baixo Sabor Fund.
• Grupo Nordeste (APFNT, PALOMBAR, AEPGA)minorStrategic or Co-development PartnerMovhera renewed a 4-year protocol with the 'Grupo Nordeste' (comprising APFNT - Northeastern Transmontano Forest Producers Association, PALOMBAR - Traditional Dovecotes Owners Association, and AEPGA - Association for the Study and Protection of Donkeys) to monitor and implement environmental measures for the Baixo Sabor and Feiticeiro dams, including forest fire prevention and protection of species such as eagles, otters, water voles, bats, and wolves. 16 local collaborators are engaged in these efforts.

Scale indicators8 records

Recent moves8 records

Expansion highlights4 records

Broad incumbents

• Enel Green Power: Enel's renewables arm operating a global fleet including significant hydropower in Iberia and Latin America; comparable as a broad low-carbon incumbent with Iberian hydropower presence.
• Vattenfall: Swedish state-owned utility with substantial Nordic hydropower generation and a growing renewable portfolio; comparable as a large incumbent utility with significant hydropower merchant exposure and ancillary service capabilities.
• Acciona Energía: Spanish-listed renewable energy IPP with hydropower capacity in Iberia competing in the same wholesale market and ancillary services framework; comparable as a renewables-heavy incumbent with Iberian operations.
• ENGIE: One of Movhera's three owner-shareholders and a global leader in hydropower generation across multiple continents, with overlapping Iberian activities through TrustEnergy; comparable as a broad low-carbon incumbent with both run-of-river and pumped-storage assets.

Direct peers

• Endesa: Spanish utility with significant hydroelectric generation in Iberia, operating run-of-river and reservoir assets and providing ancillary services into the same Iberian market as Movhera.
• Axpo: Swiss utility with a large hydropower and pumped-storage fleet selling into European wholesale markets and providing balancing services; structurally comparable to Movhera's mix of run-of-river baseload and pumped-storage flexibility.
• Iberdrola: Major Spanish utility with one of Europe's largest hydropower footprints in the Iberian Peninsula, including pumped storage assets that compete with Movhera's flexibility offering in the same Iberian wholesale market.
• Statkraft: Europe's largest generator of renewable energy, predominantly hydropower (including pumped storage); its pure-play merchant hydropower and ancillary-services model is highly comparable to Movhera's wholesale + ancillary approach.
• Verbund: Austrian-listed hydropower leader operating run-of-river and pumped-storage assets across Alpine rivers, selling into European wholesale markets and providing balancing services - structurally similar to Movhera's pumped storage and merchant hydro model.
• EDP - Energias de Portugal: Former owner of the six dams now operated by Movhera and the largest hydropower producer in Portugal; directly comparable in terms of asset type (run-of-river and pumped storage on the Douro), customer base (REN and Iberian wholesale markets), and product offering (baseload and ancillary services).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks12 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/movhera

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Movhera - Hidroeletricas Do Norte, S.a.