Private developers are ready to deploy their own capital into Romania’s fast-growing battery storage market, as public financing schemes remain uncertain and slow. Speed has become a decisive competitive advantage in the current market cycle, according to Stelian Favieli, Managing Partner at Nofar Energy.

“It’s clear that whoever builds batteries first will make more money. It’s not a question,” said Favieli at the “International Approach London” conference, organized by Energynomics in London.

He said Romania’s energy infrastructure has evolved significantly over the past four years, with both companies and investors becoming more sophisticated. However, access to financing remains a bottleneck and developers are therefore forced to choose between waiting for bank approval or moving ahead at their own risk.

“Officially, you’re told financing will take six or nine months. In reality, it’s at least one year,” he noted. This is the question every developer is asking: how much risk can you take?”, he added.

He also pointed to delays in public funding mechanisms, including programs under the Modernization Fund, warning that developers relying on such schemes should expect uncertainty over timing and disbursement. Against this backdrop, Nofar Energy plans to move forward with battery investments using its own equity. While the company has secured numerous authorizations for projects, construction ultimately depends on capital availability.

“I don’t see new public support schemes coming. You need private money,” Favieli said, adding that financing for batteries in Romania has so far been minimal, though it is beginning to pick up.

The conference “International Approach London” was organized by Energynomics, with the support of the Embassy of Romania to the UK and the British Embassy in Romania, together with our partners: AJ BRAND, Electrica, Monsson, MyEnerji, Nofar Energy, Waldevar.