“EDPR’s development strategy in Romania depends on the commitment of the local authorities to boost visibility of the regulatory framework of revenue and risks associated with new investments,” says Eduardo Nieto, general manager of EDP Renewables Romania.
This is not about subsidies but about long-term visibility of revenue. This visibility will open the door to new investments, the official added.
EDPR is the third largest investor in green power in Romania, with local operations since 2008 and a 521 MW project portfolio, mostly wind farms. EDPR is the only renewable energy investor that developed energy storage facilities at two of its projects.
The group has recently announced its global renewable energy growth strategy. Over the next five years, it will have a EUR24 billion budget for investments in 20 GW of new capacity and the target for 2030 is 50 GW of new green power capacity. In comparison, Romania is a total green power production capacity of 22 GW and less than half of it is operational.
Assuming visibility and predictability EDPR needs will come as contracts for difference based on competitive auctions, EDPR plans to continue investment in Romania, Eduardo Nieto added.
(English version by Loredana Fratila-Cristescu)