Last year, the EBRD financed nearly 1 GW of renewable energy in Romania, which is more than what the bank had financed collectively in the previous 12 to 13 years since funding the first wind farm in the country. Additionally, Romania is attractive to investors because it offers opportunities to develop larger solar and wind projects, said Joel Burghoff, Associate Director, Energy Europe, EBRD, at the conference “International Approach: Catalyzing Romania’s energy future”, organised by Energynomics in London.

“From our side, it’s clear that the market has matured significantly, enabling such investment. However, we also see considerable potential for further maturation and continued investment at that scale. One of the key factors is that achieving this scale is difficult in other parts of Europe. Therefore, one of the advantages we see is that some of the larger projects in Romania can be developed here, potentially having a regional impact that extends beyond just the local level”, he said.

Burghoff highlighted that over the years, integration across EU energy markets has enabled investments to provide broader benefits beyond local areas. However, there are still opportunities to achieve a wider European impact. He also mentioned that inefficiencies persist in the market, with room for improvement, particularly in areas like cost balancing and the development of the PPA market, which could bring the market closer to the standards seen in other countries. As a financial institution, EBRD continues to focus on these areas.

He emphasized that while the path to net-zero and Paris Agreement alignment is clear, the challenge lies in finding the right approach. He noted that the energy market is rapidly evolving and requires constant adaptation. Also, there is a need for policy to create a predictable investment environment while allowing market forces to drive growth. The market should avoid overregulation and instead strike a balance between clear policy and market freedom. Burghoff also highlighted the EU’s role in streamlining permitting processes and introducing financial tools, such as the Invest financing program, to reduce costs and risks for investors. This combination of policy support and market-driven actions is crucial for advancing the energy sector.

The conference “International Approach: Catalyzing Romania’s energy future” was organised by Energynomics in London with the support of our partners AJ Brand, Elektra Renewable Support, Adrem Asset Management, Enexus, Nofar Energy, Parapet, Wiren.