Data from Transelectrica, the national grid company, show that 91 wind, solar or hydropower producers got almost 1.3 million green certificates in the first three months of the year, worth about EUR71 million. Renewable energy generators got about EUR95 million last year. The reason for this is that 2012 is the first year when the scheme the Romanian government designed to help renewable energy generators is producing full effects, with the number of certificates depending on the type of technology used.
Any MWh of energy used to be rewarded by one green certificate until the end of last year. Now, wind power plants get two certificates, while solar power investors get six certificates. These certificates are then bought by electricity suppliers, such as Electrica, to prove that the power basket supplied to consumers includes green power.
The price of a green certificate is set under the law at EUR27 to EUR55.
The biggest winner of this support scheme is Czech-held CEZ, which got more than 474,000 green certificates for the power produced in the first quarter, that is more than EUR26 million. CEZ has recently announced it would complete the EUR1.1 billion investment in the 600 MW wind farm it is building in two towns in Constanta County, Fantanele and Cogealac (SE Romania), where it has already installed over half of the planned capacity. The farm will have 240 wind turbines (2.5 MW each) upon completion and use equipment supplied by US-based General Electric.
The list of big winners also includes Italy’s Enel and Energias de Portugal.
Experts on the market say renewable energy generators will not be getting the maximum prices for their certificates for long, because supply will outstrip demand as soon as 2014.
“Green certificate supply will be higher by around 1.5% than demand in 2014, by 5% in 2015 and by some 8.3% in 2016. From that year on, things should stabilize, because wind power producers, which are now supplying most power will get one certificate instead of two, currently,” said Valeriu Binig, director FAS Energy & Utilities at Deloitte Romania.
Moreover, some investors, such as those who chose solar energy projects might see the support scheme reduced next year, when they might get fewer green certificates, on top of the lower certificate price.
(English version by Loredana Fratila-Cristescu)