By 2036, Romania might have 3 GW in installed offshore wind capacity in the low growth scenario or 7 GW in the high growth scenario, according to the latest Romania’s offshore wind roadmap launched for consultation by the World Bank’s International Finance Corporation (IFC). One of the main findings of the report is that the levelized cost of energy (LCOE) starts at 72-93 euros per MWh in 2029 and reduces to 52-76 euros per MWh in 2035, according to the low growth scenario (LGS).
In the high growth scenario (HGS), the LCOE starts at the same level and decline to 47-68 euros per MWh in 2035. Both scenarios assume significant local content (towers, substations, etc.) of 28% (LGS), and 38% (HGS).
In terms of investment costs, LGS assumes a CAPEX expenditure of 9 billion euros for around 150 turbines in five projects by 2035, while the HGS takes into consideration a CAPEX expenditure of 19 billion euros for around 360 turbines in seven projects by the same year.
The documents include a potential timeline for first offshore wind projects, some comments on the potential development areas, and a set of recommendations. The present assessment of key conditions and frameworks for offshore wind in Romania identifies two areas where new frameworks are needed (leasing, offtake), and four where some changes are needed (the frameworks for permitting, grid connection, health and safety, and upgrades for the transmission network). In respect with the local supply chain, IFC considers that there are good opportunities in some areas, also for export.
Sean Whittaker, Co-lead Offshore Wind Development Program of the World Bank presented draft findings of the Offshore Wind Roadmap that they have been developing over the past 18 months at the request of the Government of Romania, at the Energy Week Black Sea in Bucharest.
The Offshore Wind Roadmap For Romania is a report made by the International Finance Corporation (IFC), a member of the World Bank Group. The work was carried out by BVG Associates in association with CMS and Institute for Power and Engineering (ISPE). The key messages were reviewed by the Romanian Ministry of Energy and the authors are now seeking wider feedback from industry. The official release is planned for March 2024, and it will include the latest feedback from the Romanian authorities.