Danish investor and developer of renewable energy capacity European Energy has obtained technical approvals for the connection of 500 MW of new solar and wind capacity in different areas of the country. European Energy Romania’s total solar and wind project plans exceed 1.5 GW. European Energy is in the process of obtaining technical approvals for the connection for the rest of the capacities. The technical approval for connection is an essential stage in the development of projects and an important step towards the construction and commissioning phase.
“For us, Romania is a very attractive market. The expected tenders in Romania’s renewable energy support scheme, which totals 5 GW, will accelerate the development of new wind and solar energy projects. But we believe that Romania’s real potential is more than double the capacity proposed in the scheme,” says Ioannis Kalapodas, CEO for Romania of European Energy.
At the end of 2023, Romania had announced projects of over 11.7 GW of renewable energy capacity, according to data from the International Renewable Energy Agency.Renewable energy, in the context of the green transition in Romania, primarily means benefits for the consumer, who will have access to cleaner and cheaper energy, but also for farmers and land owners, businesses and local communities and for citizens, who will have to be gained from increased local tax base and new investment jobs environmentally friendly.
“Obtaining the technical approvals for connection for 500 MW means for European Energy a step forward towards becoming a market leader. Romania can start a new wave of investments in renewable energy through the new support scheme with contracts for difference. But we believe that encouraging hybrid projects, combinations of solar, wind and storage capacity would significantly accelerate the growth of investment in renewable energy capacity. Romania would also need a clear regulation of guarantees of origin, which would also stimulate the conclusion of corporate PPA agreements,” adds Michael Viberg Pedersen, Vice President, Director for South-East Europe, European Energy.
European Energy is a Danish renewable energy developer and investor specializing in engineering, founded in 2004. The company is actively involved in solar and wind energy, storage, green hydrogen and e-methanol projects at all project stages from development to commercial and technical construction and operation.
Globally, the company has a total portfolio of 65 GW of projects in 25 countries on four continents and over 700 employees. European Energy develops and invests in renewable energy projects, green fuels, energy storage and carbon capture to contribute to the green energy transition of the future.