Record investments in energy cannot keep up the race for the 2030 world target for renewable energy, according to a press release of EY Romania. Despite the investment increase of 1,800 billion dollars in green energy in 2023, including 660 billion dollars in renewable energy, investments are still level needed to carry out COP28 target to treble renewable energy capacity by 2030. Network blocking and high capital costs may delay progress, even if there is great need of acceleration , according to the latest study EY Renewable Energy Country Attractiveness Index (RECAI 63). Storing energy, including energy storing systems in batteries (BESS), can play an essential role in exceeding the challenge concerning network blocking, which has reached high levels in many mature markets. This RECAI edition is closely analysing BESS, exploring the way in which it can offer profitable opportunities to demanding investors. “Romania has climbed three positions in the top ade by EY, to position 36, thanks to financing programs announced and laws on offshore wind energy. There is significant potential for further growth, by obtaining European certification of origin guarantees and facilitating energy stocking in batteries, aspects which could contribute to a better classification in future report editions,” said Mihai Draghici, consulting partner EY Romania. As renewable energies proliferates and electrification grows, BESS will play an essential role in a dynamic energy system, equalizing demand and offer levels and contributing to delaying network extension and modenrization costs. The US, backed by a 30% fiscal credit, according to the law on reducing inflation, ranks first in the new EY top of the most attractive markets for BESS investments. China, with powerful government support, subsidies and plans to reduce BESS costs by 30% until 2025, ranks second. It is followed by Great Britain, with a sophisticated conception of the energy market and a new energy law which classifies BESS as production active stock. They foresee an increase of BESS implementation by four times, between 2023 and 2030, reaching 572 GW/1,848 Gwh. In this edition of RECAI index, the first positions are preseved by the US (1st), China (2nd) and Germany (3rd), where investors are attracted both by the clear demand of renewable energy, and by the value established for projects. Constrictions generated by networks in Spain (12th) made the market get out of top 10, while Canada (9th)and Japan (10th) joined top 10 due to the clear intention to maximize offshore wind potential. Belgium is among the most important index evolutions, going up 4 positions and getting to 17th, as it intends to treble its offshore wind capacity by 2040. Argentina is now 26th, going up 3 positions due to the new government engagement to make economy more dynamic. Changes brought to costs of solar energy supply made Vietnam go down 6 positions (39th). Denmark remains on first position for nominated index. Greece (+1), Chile (+2) and Finland (+3) go up in the top of smaller economies , ranking 2nd, 3rd and 7th, due to the ambitious plans of energy transition and attractive government stimuli. Greece has doubled its renewable energy capacity in the last 4 years, the renewable energy sector in Chile will double in the next ten years, while Finland has set ambitious targets to become the first European economy with negative carbon dioxide emissions, creating new opportunities for potential investors.
MedLife, Romania’s largest private medical services network, announced on Wednesday, December 10, that it reached a market capitalization of EUR 1 billion on the Bucharest Stock Exchange (BVB). The milestone secures its position as “the most valuable healthcare company” in the country. The achievement came nine years after MedLife’s listing on BVB in December 2016, […]
The Buzău Land UNESCO Global Geopark in Romania has become a “living laboratory” this week as a team of American researchers arrived to study microorganisms capable of surviving in extreme environments. The scientists, part of the interdisciplinary research organisation The Two Frontiers Project, are examining methane seeps, sulfur and petroleum springs, saline sources, and other […]
A moose has been unexpectedly spotted in the Hunedoara county area, specialists from the conservation group Rewilding Romania announced on Wednesday, December 10, sharing footage of the animal on social media. The sighting is considered “an important discovery for Romania’s wildlife,” though experts caution that it remains unclear how the animal reached this region. According […]
Trade unionists will continue to require the Presidential Administration to mediate the conflict with the government on issues such as the minimum wage or the collective labour agreement, said Bogdan Hossu, president of the Cartel Alfa trade union confederation, as reported by
Prime minister Ilie Bolojan said on Wednesday, December 10, that Romania’s state budget for 2026 will be adopted only at the end of January, citing the need for Parliament to first approve legislation required to ensure predictability and compliance with the country’s deficit targets. His comments came as the government has been working to align […]
Bosch announced that its Global Business Services centre in Romania, at Timisoara, plans to reduce approximately 510 positions of the existing 1,800 by the end of 2030 as part of a cost-cutting plan that aims to lay off 13,000 employees worldwide across the entire group. The company cited “stagnant demand for services” and “productivity potentials […]
