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Bulgaria and Romania Could Become Important Drivers of Europe’s Green Recovery

Bulgaria and Romania Could Become Important Drivers of Europe’s Green Recovery

Date: July 10th 2020

Author: Peter Palčec

Category: En.vision

Topic: Electricity , RES and EE , Coal , Energy policy

“Through clean energy investment, Bulgaria, the Czech Republic, Poland and Romania can be important drivers of Europe’s green recovery and climate efforts,” states a report titled ‘Investing in the Recovery and Transition of Europe’s Coal Regions’.

The in-depth analysis on the transition of the power sector in four key Central and Eastern European economies, published by BloombergNEF (BNEF), highlights that the total new renewable capacity in these four markets could bring up to EUR 53.7 billion in new investment.

The BNEF report maps the least-cost transition options for four key power markets in Central and Eastern Europe. This is the first time BNEF has used its New Energy Outlook modelling tools to explore the transition of these countries’ power markets, finding that by 2030 the least-cost scenario would allow these four countries to reduce their power sector emissions by 48% from 2018 levels.

According to the report, the four countries have a total of more than 50 GW of coal- and lignite-fired capacity in their electricity mix and account for nearly two-thirds of Europe’s coal capacity not yet covered by a coal exit policy.

The report models two power system outlooks for each of the four countries – a least-cost scenario, and a scenario based on each country’s national energy and climate plan (NECP). The results of the report’s least-cost scenario show, unsurprisingly, that “significantly more ambitious 2030 renewables targets are already possible” and that the four countries could each reach a 47% share of renewables generation by 2030 compared to the 31% achieved through their existing NECPs.

The report concludes by clearly stating that “renewables are the cheapest source of new bulk electricity generation for Poland, the Czech Republic, Romania and Bulgaria” and that “new renewables are becoming competitive against the marginal cost of existing coal and gas power plants.”


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