Hence, EBRD’s strategy for Romania is tailored along three major directions: hydropower, renewable energy investments and electricity transport infrastructure.
“All the companies I get into contact with, all those that want to invest in renewable energy are talking about Romania, which has become the most interesting market in Europe for this type of projects.”
The renewable energy sector and particularly wind farms are among the few investment fields that boasted a spectacular leap in the past two years of crisis.
The main factors that make Romania one of the most attractive European destinations for green energy investments are the very good wind potential, and especially the support scheme the Romanian state is about to promote for these investments.
By 2020, the value of this scheme is put by the Romanian Energy Regulatory Authority (ANRE) at over EUR10 billion, with a rise in electricity bills as the major problem it entails. Moreover, on the wind farm boom, the electricity transport system may pose some problems unless significant investments are made to strengthen the lines.
In Puliti’s opinion, the support scheme can be considered as a balanced one. On the other hand, though, there are voices, such as the World Bank, saying Romania is about to approve a green certificate-based support scheme that is over 50% more lavish compared to those implemented in other European states.
Renewable energy is thus becoming one of the pillars EBRD’s strategy for Romania will rely on.
“On Monday, we signed a EUR69 million funding contract with Energias de Portugal, a company that is developing two major wind farms in Pestera and Cernavoda towns (of Dobrogea). This shows where the EBRD will focus,” Puliti says.
According to him, EBRD is also looking at a 80 MW project Iberdrola is building in Mihai Viteazu locality, also in Dobrogea, for which it hopes to sign a contract in the next two months.
Hydropower is also on EBRD’s priority list, with the institution releasing a EUR110 million loan for the upgrade of Stejaru Bicaz.
Besides hydropower and renewable energy, the third strategic line for the EBRD in Romania is electricity transport, says Puliti. Virtually, growth on the renewable energy segment is linked to the development of transmission infrastructure, he explains.