By 2036, Romania might have 3 GW in installed offshore wind capacity in the low growth scenario or 7 GW in the high growth scenario, according to the latest Romania’s offshore wind roadmap launched for consultation by the World Bank’s International Finance Corporation (IFC). One of the main findings of the report is that the levelized cost of energy (LCOE) starts at 72-93 euros per MWh in 2029 and reduces to 52-76 euros per MWh in 2035, according to the low growth scenario (LGS). In the high growth scenario (HGS), the LCOE starts at the same level and decline to 47-68 euros per MWh in 2035. Both scenarios assume significant local content (towers, substations, etc.) of 28% (LGS), and 38% (HGS). In terms of investment costs, LGS assumes a CAPEX expenditure of 9 billion euros for around 150 turbines in five projects by 2035, while the HGS takes into consideration a CAPEX expenditure of 19 billion euros for around 360 turbines in seven projects by the same year. The documents include a potential timeline for first offshore wind projects, some comments on the potential development areas, and a set of recommendations. The present assessment of key conditions and frameworks for offshore wind in Romania identifies two areas where new frameworks are needed (leasing, offtake), and four where some changes are needed (the frameworks for permitting, grid connection, health and safety, and upgrades for the transmission network). In respect with the local supply chain, IFC considers that there are good opportunities in some areas, also for export. Sean Whittaker, Co-lead Offshore Wind Development Program of the World Bank presented draft findings of the Offshore Wind Roadmap that they have been developing over the past 18 months at the request of the Government of Romania, at the Energy Week Black Sea in Bucharest. The Offshore Wind Roadmap For Romania is a report made by the International Finance Corporation (IFC), a member of the World Bank Group. The work was carried out by BVG Associates in association with CMS and Institute for Power and Engineering (ISPE). The key messages were reviewed by the Romanian Ministry of Energy and the authors are now seeking wider feedback from industry. The official release is planned for March 2024, and it will include the latest feedback from the Romanian authorities.
Colombian reggaeton superstar J Balvin will perform in Dubai for the first time this November, headlining Untold, the globally recognized festival born in Romania. The event will take place from November 6 to 9 at Dubai Parks and Resorts, featuring more than 100 international acts across five stages. The festival is staged in partnership with […]
More than 17% of Romania’s population faced severe material and social deprivation last year, which was one of the highest shares in the EU, according to the statistical bureau of the European Union - Eurostat. In 2024, 6.4% of people in the European Union faced severe material and social deprivation, a slight decrease compared to […]
The Freedom and Respect for Every Earthling association will hold the March for Animal Rights in Bucharest on October 4, to mark International Animal Day. The march will start at 11 AM at the National Theater Park, and will go on to Piața Victoriei. Organizers say they aim to bring to the forefront the suffering […]
Several Israeli citizens got into a fight on a plane flying from Israel to Bucharest on Monday, September 15. Upon landing, Romanian police issued several fines. The scandal reportedly broke out for religious reasons. The argument involved roughly 30 passengers of the flight from Tel Aviv to Bucharest. At one point, seven passengers started to […]
Only 145 companies in Romania, out of more than 800,000 active businesses, managed to grow their revenues and remain profitable every year between 2008 and 2024, according to an analysis published by business intelligence platform Termene.ro. The study found that these firms, representing just one in every 5,500 companies (or 0.02% of the total), generated […]
The secretary-general of the Organization for Economic Cooperation and Development, or OECD, Mathias Cormann, was on a visit to Romania on Monday, September 15. The representative had talks with president Nicusor Dan and prime minister Ilie Bolojan, after which he said that Romania may succeed in joining the organization in 2026. Founded in 1961, the […]
