Financiers are willing to channel their money into renewable energy projects in Romania, but they need guarantees from the authorities on legislative predictability, said Dan Ungureanu, Business Development Leader CEE & CIS, RENOMIA Gallagher.

“Funders are giving more and more money but they all want more predictability,” he said, at the conference “2024: A defining year for the renewable energy sector in Romania”.

The energy market continues to face two severe problems, namely the inadequacy of the energy distribution and transmission network and the lack of electricity storage capacity. On the other hand, financiers of renewable energy projects are keen to insure their investments, but project developers often rely only on mandatory insurances.

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“In the design field, the discussion is broad. A lot of damage is over design flaws, but a developer will never want to insure that and will pass it on to the designer. We always recommend that the funder ask for professional insurance on the whole design side. A peculiarity of Romania, unfortunately, and some countries in the region, is the way risk management is seen. The good news is that a lot of parameters can be insured,” Ungureanu said.

The conference “2024: A defining year for the renewable energy sector in Romania” was organized by Energynomics with the support of our partners: ADC, Alive Capital, CRC Energy, Elektra Renewable Support, EnergoPower, Ensys, Extro, Horváth, ING Bank, LONGi Solar, Monsson Operation, Nofar Energy, OX2 România, Photomate, PNE Romania, Polytrade Global, REI Grup, Renomia, Sph3ra Management Solutions, Transelectrica, WALDEVAR Energy, Wiren Romania. On this occasion, Energynomics launched its first report under the initiative “Monitor of the Romanian Photovoltaic Projects”.