European Energy Romania's total development pipeline now surpasses 1.5 GW of solar and wind projects.
The company is actively working to obtain grid connection approvals for the remaining projects, a critical step in moving these initiatives closer to the ready-to-build stage.
“We consider Romania a very promising market. The upcoming auction for Contracts for Difference outlined in the Romanian renewable energy support scheme, totaling five GW, will unlock the implementation of more wind and solar projects,” says Ioannis Kalapodas, Head of European Energy's Romania office.
As of the end of 2023, Romania has 11.7 GW of renewable energy capacity either built or with grid connection approval, according to the International Renewable Energy Agency. Renewable energy is integral to Romania's Green Transition, offering numerous benefits such as cleaner and more affordable electricity for consumers. It also provides economic advantages for farmers, landowners, local businesses, communities, and citizens through increased tax revenue and new jobs in environmentally friendly investments.
“Securing 500 MW of grid connection approvals is a step towards achieving a leading position in the market. Romania can foster a new progressive stream of renewable energy development under the recently launched support scheme for Contracts for Difference,” says Thorvald Spanggaard, Executive Vice President and Head of Project Development at European Energy.
European Energy anticipates that hybrid projects, which combine solar, wind, and battery storage technologies, will drive the development of renewable energy in Romania. Additionally, the establishment of clear regulations for guarantees of origin could stimulate corporate power purchase agreements in the country.
