Romania’s EPC sector has started to attract international players, including Portuguese, Turkish, Polish and other companies, which have recognised the market potential. In 2020, there were no EPC companies in Romania. Now, at an auction, there are 6-7 participants coming with bids, said Stelian Favieli, Managing Partner of Nofar Energy, at the conference “International Approach: Catalyzing Romania’s energy future”, organised by Energynomics in London.

The renewable industry is bringing back many Romanians who emigrated to Spain, Italy and England. “Today, I think salaries are quite competitive, and this has a positive influence on Romania’s economy, because people are coming back from abroad, generating significant economic growth.”

“We are currently building 400 MW, to be connected and energised by the end of this year. We are also starting a new 256 MW project, so we will have around 650 MW of projects in the pipeline,” he added.

Favieli said that for Nofar, the next step in expanding in Romania involves storage and PPAs (power purchasing agreements). This year, Nofar expects PPAs to become more widespread in the market, as they facilitate access to finance and allow investors to develop more projects in Romania.

“We look forward to promoting storage solutions, financing and PPAs, as these will be essential for the next phase of growth,” concluded Favieli.

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.