The renewable energy generation market is booming, but the number of completed projects is low, and the reasons include a lack of EU funding and delays in the introduction of contracts for difference (CfD).

“Since the beginning of the year, new renewable energy projects are still not being seen, and one of the reasons is funding. The only call on the NREP opened in May 2022, and in October 2023 it still hasn’t closed. CfD contracts are still not in place and there are many question marks here. Similarly, the Modernisation Fund for private companies is not yet operational,” said Andrei Manea, Executive Director of the Romanian Photovoltaic Industry Association – RPIA, during the “More renewables for Romania” conference, organized by Energynomics.

The development of large-scale photovoltaic parks is also slowed down by legislation limiting the area of agricultural land on which they can be installed to 50 hectares. However, RPIA expects the number of completed projects to increase in 2024 as all funding schemes currently under discussion or approval start up. However, Romania is currently going through a good period for prosumers as they benefit from the support of European funds or other types of financing.

One of the positive aspects is the authorisation of renewable energy projects, Romania being among the most attractive European countries from this point of view, with an average approval time of 1-3 years compared to others where obtaining approvals can take up to a decade. The authorities in Bucharest are also showing greater openness to this sector, because they have realised that they cannot oppose this global trend to support investment in renewable energy.

“The difference between the existing support scheme for renewable energy that is given to anyone who injects into the grid through green certificates versus the support mechanism that makes an investor have long-term predictability and allows them to attract funding for project development. This mechanism should also be seen in the energy bills of end consumers,” Manea said.

“More renewables for Romania” conference was organized by Energynomics, with the support of our partners among which Alive Capital, Astrasun, BCR, Elektra Renewable Support, EnergoBit, Eximprod, Ensys Renewable Solution, ING Bank, LAPP Romania, Metacon, Noark, Photomate, REI Grup, TAW Energy, Volt, Wiren.