Nofar Energy wants to start building more than 600 MW photovoltaic parks this year and estimates that Romania has the capacity to install at least 1 GW of new renewable projects annually by 2030, said Stelian Favieli, Managing Partner of the company.
“We see 2024 as a year to stabilise the market a bit. Not much will happen, but what happens now will be [crucial] for the next 5-6 years,” he said, at the conference “2024: A defining year for the renewable energy sector in Romania”.
In his view, Romania could install an average of 1 GW per year by 2030.
The projects Nofar will start this year are due to be connected to the grid next year, and the company has “appetite for other projects”, even if there are difficulties in finding manpower due to the small number of EPC companies.
If in 2021, 1-2 companies applied to the company’s tenders, the number has grown to 5-6 in the following years, and now even 10 companies are applying.
Nofar connected a 155 MW project to the grid last year and recently signed a contract with an EPC firm for a 314 MW investment. The company also has an adjacent 256 MW of capacity in tender procedures.
“We continue to see a positive development in the market. We have to understand that the development of a solar park with a capacity of more than 100 MW can take at least 1-2.5 years, if everything goes well. Any project requires patience and trust, and then comes the financing and construction (EPC) stage, which contributes to the success of these projects,” Favieli added.
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”.