Romania
CWP Europe is actively developing renewable energy projects in Romania, supporting the country’s shift towards a cleaner, more sustainable future. By delivering innovative and scalable green energy solutions, we contribute to energy security, economic growth, and the decarbonization of Romania’s power sector.
Overview
The Romanian government has implemented various incentives to promote renewable energy investments, including feed-in tariffs, tax benefits, and grants for renewable energy projects. These initiatives aim to attract both domestic and foreign investors to the sector.
Private sector investments in renewable energy projects continue to grow, driven by advancements in technology and increasing awareness of the benefits of clean energy. Innovations in energy storage, grid integration, and renewable energy financing further propel the sector's growth.
Romania's energy ambitions are closely linked to the general objectives of the EU energy and climate policy. Thus, Romania has set a target of 30.7% for the share of renewable energy sources in gross final energy consumption for the 2030 time horizon through the National Integrated Energy and Climate Change Plan 2021‑2030 ‑ NECP, approved by GD no 1076/2021, with the proposal to amend it to 36.2% through the Draft National Integrated Energy and Climate Change Plan 2021‑2030, currently in the process of public consultation on the Ministry of Energy website. This shows the need to increase the installed renewable generation capacity well above the values considered in the current NECP (i.e. an increase of about 7,000 MW, of which about 3,700 MW from photovoltaic sources, 2,300 MW from wind sources and about 1,000 MW from hydro sources).
Market Opportunity
As renewable energy capacity increases, integrating intermittent energy sources efficiently into the grid remains a challenge. Investments in grid infrastructure and smart grid technologies are essential to address grid stability and reliability concerns. Streamlining permitting processes, ensuring grid access for renewable energy producers, and providing long-term policy stability are crucial for fostering a conducive regulatory environment for renewable energy investments. While renewable energy costs have declined significantly in recent years, achieving cost competitiveness with conventional energy sources remains a priority. Continued research and development, coupled with supportive policies, can drive further cost reductions and enhance the economic viability of renewable energy projects.
Romania's renewable energy potential presents a compelling opportunity for sustainable development, economic growth, and energy independence. By leveraging its abundant renewable resources, embracing technological advancements, and fostering a supportive policy environment, Romania can accelerate its transition towards a cleaner, more resilient energy future. With concerted efforts from government, industry, and civil society, Romania can emerge as a regional leader in renewable energy innovation and contribute significantly to global efforts to combat climate change.
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Creating value and opportunities in the communities where we operate
As a socially responsible investor, CWP works hand-in-hand with local communities to create a series of longer-term projects that leave a lasting legacy. We want to build a successful partnership with the local administration and community. The focus of our social initiatives is community building, education and youth development, sport activities, improvement of urban infrastructure and donations.
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