Foreign and local investments in the Romanian renewable energy market

Austrian investment fund Core Value Capital envisages investing EUR 800 mln in Romanian photovoltaic projects with a total capacity of 1GW over the next seven years. The investment fund already owns a 50 MW photovoltaic park in Giurgiu, developed in 2012-2014 following an investment of almost EUR 90 mln.

Later this month, Romania’s state-owned power utility Hidroelectrica announced it was looking at wind and solar projects with a combined capacity of 2 GW as part of the effort to diversify its production portfolio with renewable energy capacities.

The company is also drafting tenders for feasibility studies that will examine the potential of developing solar capacity (including floating solar) on the company’s land and lakes. It is also interested in the installation of offshore wind farms after the development of offshore legislation.

Hidroelectrica currently operates hydropower plants with an installed capacity of 6.4 GW and one wind farm, Crucea, totalling 100 MW.

At the moment, Romania has wind farms totalling 3 GW of capacity and almost 1.4 GW in solar power and the country aims at adding 6.9 GW of renewables by 2030.