Romania Renewable Energy Market - Growth, Trends, and Forecast (2020 - 2025)

Romania Renewable Energy Market - Growth, Trends, and Forecast (2020 - 2025)

Market Snapshot

Study Period:

2018-2025

Base Year:

2019

CAGR:

2.5 %

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Market Overview

The market for Renewable Energy in Romania is expected to grow at a CAGR of more than 2.5% in the forecast period of 2020-2025. Factors such as encouraging government policies and pressure to meet power demand using renewables to decrease dependency on fossils to decrease Carbon footprints are significant contributors to the growth of the market. With the commitment of Romania to generate more than 30% of electricity with renewables by 2030, significant growth in renewables is expected. The declining costs of renewable technologies are becoming competitive with fossil fuel sources, and additional subsidies on renewables are driving the renewable market further. On the other hand, very stagnant growth in renewable due to the absence of any initiatives and limited land and limited power capacity by variable renewable energy sources, there can be a fall in the growth of renewable.

  • Although wind energy growth in Romania has been stagnant till 2019, with more than 1000 MW of consented wind projects, there can be considerable growth in the renewable share because of wind energy.
  • With a great potential in solar energy also, Romania has more than 1000 MW of installed capacity of solar energy, that is expected to grow in the forecast period, residentially and commercially as well.
  • Romania, with its ambitious upcoming renewable projects, is all set to achieve its renewable growth of 30% electricity generation from renewables by 2030. It has successfully achieved its target of 2020 for renewable share before the deadline and kept moving further.

Scope of the report

The Romania renewable energy market report include:

Type
Bioenergy
Solar Energy
Wind
Hydropower
Others

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Key Market Trends

Breakthrough from Stagnant Wind and Solar Market

  • In 2017, with a share of 7.5% of the total renewable energy generation from solar photovoltaic (PV), producing 1,856 Gigawatt-Hour (GWh) of electricity, solar photovoltaic (PV) become a dominating source of energy in the Romanian energy market.
  • On the other hand, with great geographical advantage, Romania successfully installed more than 3000 MW of wind energy by 2018, which is even expected to grow further at a considerable rate.
  • In 2020, Complexul Energetic Oltenia, a Romanian coal-fired power producer, plans to build 310 MW of PV capacity across four sites at one of its facilities. Projects like these are assisting Romania to drive towards green energy and reducing carbon footprints also.
  • Although since 2016, there has been no significant additions in both solar and wind projects, which has driven the renewable growth to stagnancy in 2020, with few ambitious projects and policies, growth can be expected in the forecast period.
  • Upgradation or higher efficiency wind turbines can be witnessed in forecast period because the wind market companies have been able to install taller wind turbines due to improvements in the wind turbine materials used. Moreover, these new turbines have larger blades and, hence, can sweep more area than the smaller turbines.

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Ambitious Projects and Government’s Policies

  • In April 2017 a state aid scheme has been approved by Government Decision no. 216/2017 to promote energy production from less exploited energy sources, namely biomass, biogas, and geothermal energy. Sources like these will push the renewable market further.
  • In March 2017, the government has approved a new Emergency Ordinance with amendments to the country’s main renewable energy law. The new emergency ordinance cleared up some legal uncertainties and brought some stability and transparency to the Green Certificate support scheme, to improvise the decreasing investment by major players.
  • NERO Renewables plans to install 237 wind turbines at 3 different sites in South-East Romania, with a total capacity of approximately 1.000 megawatts, generating up to 3-terawatt hour per annum. The project is estimated to be operational in the forecast period.
  • With Fantanele-Cogealac Wind Farm, which is the largest wind project in Europe, Romania added 600MW wind energy in Constanta County of Romania. It contributes about ten percent of the Romanian renewable energy production and assisted in reaching the 2020 goal of renewable energy in 2014.
  • The European Commission (EC) recommended Romania to increase the renewable energy target from 24% in 2020 to “at least 34%” in 2030, compared to a lower target of 27.9% proposed by Romania as Romania already achieved 24% target years before 2020.

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Competitive Landscape

The Romania renewable energy market is partially fragmented. The major companies include General Electric Company, Energias de Portugal S.A., Enel S.p.A., Siemens Gamesa Renewable Energy S.A., CEZ AS, and others.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of Study

    2. 1.2 Market Definiton

    3. 1.3 Study Assumptions

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Romania Electricity Generation Mix, 2019

    3. 4.3 Romania Renewable Energy Installed Capacity and Forecast, in Megawatt (MW), till 2025

    4. 4.4 Recent Trends and Developments

    5. 4.5 Government Policies and Regulations

    6. 4.6 Market Dynamics

      1. 4.6.1 Drivers

      2. 4.6.2 Restraints

    7. 4.7 Supply Chain Analysis

    8. 4.8 PESTEL Analysis

  5. 5. Market Segmentation

    1. 5.1 Type

      1. 5.1.1 Bioenergy

      2. 5.1.2 Solar Energy

      3. 5.1.3 Wind

      4. 5.1.4 Hydropower

      5. 5.1.5 Others

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Vestas Wind Systems A/S

      2. 6.3.2 Energias de Portugal, S.A

      3. 6.3.3 General Electric Company

      4. 6.3.4 Enel S.p.A

      5. 6.3.5 CEZ AS

      6. 6.3.6 Siemens Gamesa Renewable Energy SA

      7. 6.3.7 Sunshine Solar Energy s.r.l.

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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