However, after five months just 20% of projected investments were completed after the government curbed the support scheme for renewable energy.
Considering construction works are usually carried out in spring and summer, it is hard to believe that projections for 2014 will come true.
According to ANRE’s latest estimate, Romania should reach a 6,005 MW capacity in renewable energy at the end of this year, meaning it would already meet targets set for 2020, pointing to green projects of 5,589 MW.
These estimates no longer stand high chances of coming true given the market’s trend in the first five months of this year.
According to data published by the state-run national power grid operator Transelectrica, investments in new projects of around EUR570 million, in 341 MW, were carried out since the beginning of the year until late May, almost five times less than ANRE’s projection.
Usually, there are small gaps between Transelectrica data and ANRE reports, but ANRE has not published a report on the trend of the energy market in 2014 so far, though the institution draws up such reports on a monthly basis.
The green energy market has been one of the few to post a spectacular performance during recession. The main growth driver was the support scheme the Romanian state made available for investors, viewed as one of the most lavish in Europe until last year.
The problem is that the support reflected in the bills paid by the population and industry. Thus, the government last summer decided to postpone granting a number of certificates for projects that were already operational in July 1, 2013, while for projects registered starting January 1, 2014 a reduced scheme is applied.
The decision hurt investments.
(English version by Catalina Apostoiu)