Romania recorded a record year for investments from the European Bank for Reconstruction and Development (EBRD), with the energy sector playing a central role, according to Joel Burghoff, Associate Director, Energy Europe, EBRD.

“We had a record year in Romania last year, and a big part of that was the energy sector. And also the year before we had quite a good year in the energy sector. But then if you look a bit further back, there was very little energy investment that we’ve done,” Burghoff said at the “International Approach London” conference, organized by Energynomics in London.

He underlined that the structure of the sector has fundamentally changed, as renewable energy has shifted from a marginal source of electricity to becoming the backbone of the system. According to the EBRD official, renewables are no longer a niche segment benefiting from limited advantages, but “the foundation of the energy sector,” which requires a more holistic investment approach. This structural shift is expected to generate new opportunities, particularly in energy storage and battery projects, areas that were not at the forefront when Romania’s Contracts for Difference (CfD) scheme was initially designed two years ago.

Burghoff also highlighted the progress made in removing regulatory barriers and launching renewable energy auctions, describing the move as a strong signal of commitment from Romanian authorities.

“After having cleared a lot of those roadblocks we then achieved the launch of the auctions. […] Effectively they have taken a pile of cash and locked it up, which really shows their commitment to the sector now,” he said.

He added that the CfD scheme, beyond awarding 5 GW of capacity, has had a broader multiplier effect by attracting additional investments, including projects outside the CfD framework.

At the same time, Burghoff pointed to evolving EU policy conditions. While renewables have become increasingly cost-competitive and less dependent on subsidies, future EU support may come with stricter conditions, including requirements related to domestic manufacturing, strategic autonomy, and cybersecurity considerations.

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.