The European Commission has approved a 3 billion euro Romanian scheme to support installations producing electricity from onshore wind and solar photovoltaic to foster the transition towards a net-zero economy, in line with the Green Deal Industrial Plan.
“This 3 billion euro scheme will enable Romania to support the deployment of new solar photovoltaic and onshore wind power plants,” said Margrethe Vestager, Executive Vice-President in charge of competition policy. “The use of contracts for difference provides incentives for the swift rollout of renewable energy sources and prevents overcompensation. This scheme will also contribute to reducing Romania’s dependence on imported fossil fuels, without unduly distorting competition in the Single Market.”
The 3 billion euros will be divided to support the installation of 3 gigawatts (GW) of solar energy and 2 GW of wind energy, representing the largest investment for Romania’s energy transition. The first round will be launched this year (1 GW of solar and 1 GW of wind projects) while the second round will be conducted in 2025.
“For all Romanians, these investments mean a lower price for electricity in the medium and long term, cleaner air and higher energy production,” commented Sebastian Burduja, Minister of Energy. “Last year, after many years, Romania became a net exporter of energy. And we will continue to export as our country is consolidating its status as a regional leader in the energy sector.”