Interest in Romanian renewables tender far exceeds expectations
Date: June 29th 2022
Author: Peter Palčec
Interest in funding for renewable energy projects under Romania’s National Recovery and Resilience Plan (NRRP) has far exceeded the government’s expectations.At the end of March, Romania’s energy ministry announced the EUR 457.7m tender for up to 950 MW of renewable energy projects, but when the tender closed on 22 June, 668 solar and wind projects with a total capacity of 3.5 GW had been submitted, according to data from the Romanian consultancy firm REI.
REI, which specialises in attracting non-reimbursable financing from European funds or through state aid mechanisms, helped many companies submit projects for this tender and according to its consultants there has been huge interest.
"We submitted projects for over 100 clients, with installed capacities from 0.2 MW to 70 MW,” REI managing partner Roxana Mircea said in a press release that was published on Tuesday.
In fact, interest has been so great that the energy ministry already had to extend the tender’s deadline three times and for more than 50 days.
Up to EUR 750,000/MW is available for solar installations whose capacity is between 0.2-1 MW. For solar installations with over 1 MW of capacity, the maximum amount of state aid available is EUR 425,000/MW. The maximum funding limit for any single company or investment project is EUR 15m.
Approximately a quarter of the energy consumed in Romania (24.5%) comes from renewable energy sources, according to Eurostat data.
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