The European Bank for Reconstruction and Development (EBRD) will contribute to the development of renewable energy tenders in Romania, according to a Memorandum of Understanding signed between Energy Minister Sebastian Burduja and EBRD Head of Romania Victoria Zinchuk. This partnership marks an important step in expanding the country’s green energy capacities.
Significant progress: first auction for 1.5 GW
In September 2023, Romania organized its first auction for the allocation of 1.5 GW of renewable generation capacity. This included:
- 500 MW for photovoltaics.
- 1 GW for onshore wind.
The process has been supported by a Contract for Difference (CfD) mechanism designed to incentivize investment in green energy installations. CfD guarantees a stable price for energy, providing certainty for investors and reducing market risks. “This auction is a significant step forward in Romania’s efforts to increase the share of renewable energy and attract investment in the sector,” said Victoria Zinchuk.
Objectives of the Memorandum of Understanding
The signed agreement sets out a number of initiatives for the coming years, including:
- Second round of renewable energy auctions by the end of 2025.
- Developing energy storage capacities, such as pumped hydro projects, essential for grid stability.
- Organize competitive tenders for energy storage solutions.
- Regulatory reforms to integrate storage capacity into energy markets.
Energy Minister Sebastian Burduja said: “This partnership will accelerate the transformation of the Romanian energy system, bringing it up to modern standards. It is an opportunity to attract new investment and ensure that the energy transition is a success.”
Support for innovative solutions
A key aspect of the collaboration is the development of storage capacity, which is essential for managing the intermittency of renewable energy. Pumped or battery storage projects will allow better integration of renewables into the grid and stabilize energy flows. Victoria Zinchuk emphasized:
“We are pleased to help attract private investment and modernize the energy infrastructure. Romania has huge potential in the green energy sector and these initiatives will amplify the positive impact.”
A sustainable future for Romania
With the support of the EBRD and the commitment of the Romanian Government, Romania has the chance to become a regional leader in renewable energy. The Memorandum provides clear directions for reforms and innovations that will strengthen the energy sector and support the transition to a greener economy.
