European Energy is in working process to receive grid connection approvals for the remaining projects in the near future, which is an important step in project development, moving these initiatives closer to a ready-to-build stage, the company announced.
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“We consider Romania a very promising market. The upcoming auction for Contract for Difference outlined in the Romanian renewable energy support scheme, totalling five GW, will unlock the implementation of more wind and solar projects,” says Ioannis Kalapodas, Head of European Energy’s Romania office.
11.7 GW renewable capacity built or with grid connection approval
As of the end of 2023, Romania has 11.7 GW of renewable energy capacity either built or which have grid connection approval, according to the International Renewable Energy Agency. Renewable energy, as part of Romania’s Green Transition, offers numerous benefits, including cleaner and cheaper electricity for consumers. Additionally, it provides economic advantages for farmers and landowners, local businesses, communities, and citizens through increased tax revenue and new jobs in environmentally friendly investments.
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“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.
Hybrid projects could drive the renewable development
European Energy estimates that hybrid projects, which include a mix of solar, wind, and battery storage technologies, could drive the development of renewable energy in Romania. Another initiative that could spur this development is the establishment of clear regulations for guarantees of origin, which would stimulate corporate power purchase agreements in the country. (hcn)
