Romania will publish a call for its first solar and wind power auctions within weeks, pending the green light from the government and the Modernisation Fund, Minister of Energy Sebastian Burduja estimated, https://balkangreenenergynews.com/ reports. He announced the ceiling prices in the bids for CfD market premiums would be EUR 91 per MWh and EUR 93 per MWh, respectively. Romania will be the first country to use the European Union’s Modernisation Fund to cover two-way contracts for difference (CfDs) with renewable electricity producers. The government received a green light last week from the European Commission for a EUR 3 billion state aid scheme for solar and wind power projects. Auction winners will be entitled to a guaranteed price for the electricity they sell for 15 years, Minister of Energy Sebastian Burduja noted. Under a CfD, the government pays the private operator the difference if the market price is lower than the price in its contract. When it’s the other way around, the utility returns the difference. It means predictability for encouraging strategic investments in Romania’s green transition, Burduja stressed. He vowed to make the competitive bidding process as competitive as possible. “Because a lower reference price will give a signal to the entire European market, and even beyond the European Union, that Romania is really attractive for investments in the energy sector, on the one hand, and on the other hand, it no longer exposes the state to a risk of paying more than would be the case in a comfortable time horizon for investors of 15 years,” Burduja stated. Hefty green energy subsidies crippled government finances a decade ago, so the renewables market collapsed and remained dormant for several years. The upcoming auctions are envisaged to be held for projects with an overall 1 GW in solar power and 1 GW in wind power capacity. Another 1.5 GW for each technology is planned for next year, bringing the combined quota to 5 GW. Burduja revealed that the ceiling, the maximum bidding prices, would be EUR 91 per MWh for photovoltaics and EUR 93 per MWh for wind farm projects. The levels were determined with consultants and the European Bank for Reconstruction and Development. The minister said he expects final auction prices to be significantly lower. Last year Romania was a net electricity exporter, he underscored. It was the first time since 2018.
The Romanian Parliament's Chamber of Deputies greenlit a request from opposition parties Alliance for the Union of Romanians (or AUR), SOS Romania, and the Party of Young People (or POT) to establish an inquiry commission into the October 17 explosion at the residential building in southern Bucharest. Three people died in the blast, which was […]
Two new studies centering on Romanians’ purchasing habits in connection with the yearly discount event known as Black Friday show a starkly different image compared to previous years. The findings suggest Romanians traded impulsivity for strategic planning. According to the latest Cargus survey conducted among 1,036 urban respondents, seven in ten Romanians are tracking desired […]
Colorful foliage, tranquil surroundings, and plenty of nature to explore: from mountain towns to wine-country escapes, we've selected below several options for an autumn break. Buzău Land This area, located in the southeastern part of the country, in the Carpathian bend, has been a UNESCO Geopark since 2022. It's a completely rural area that offers […]
Beyond Business School, founded by serial entrepreneurs Andra Ghibuțiu and Grégoire Vigroux, today announced the launch of the 3rd edition of its executive program in Bucharest. Designed for ambitious professionals ready to accelerate their careers, the program combines internationally accredited courses, hands-on business training, and direct access...
The sound of jazz will once again fill Oradea this November as the ORA Jazz Festival returns for its sixth edition, bringing together artists from across Europe and beyond. The festival will take place between November 14 and 16 at the Oradea State Philharmonic and the Sion Neolog Synagogue. This year’s edition features performers from […]
Allianz-Țiriac Asigurări announces the appointment of Codruța Furtună, currently Sales and Distribution Director, as Deputy Chief Executive Officer. The nomination has been approved by the Financial Supervisory Authority (ASF) and will be registered with the National Trade Register Office. Codruța Furtună will continue to oversee the Sales and Distribution area in Allianz-Țiriac, playing a key […]
