This market report offers an incisive and reliable overview of the wind energy sector of the country for the period 2017 ÷ 2026...
Update: April, 2018; NOTE: We have a new version of this report for the 2024 - 2033 period. Please review it here: https://renewablemarketwatch.com/country-reports/europe/romania
Format: 1 file(s) (PDF report) in English language and 1 file(s) in MS Excel with data from charts and tables
Author: Renewable Market WatchTM
Pages: 124
Report production №: RMWIN349201795
Delivery: 24 - 48 hours by e-mail
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This market report offers an incisive and reliable overview of the wind sector of the country for the next long term period 2017 ÷ 2026. In view of recent cuts in FIT’s announced in Germany, Spain, France, UK, Czech Republic, Slovakia, Bulgaria and Italy, Romania represents a stable investment environment in South-East Europe with clear rules and green certificates support scheme. Current cumulative installed wind capacity in the country is growing fast and Romania is among the best performer amongst SEE countries in the past 5 years.
Despite of reduction of number of green certificates from the beginning of 2014 Romanian market reached more than 3,000 MW cumulative installed wind capacity at the end of 2017. The report provides a complete picture of the market situation, dynamics, current issues and future prospects. You will find more than 120 pages of valuable information in this unique in-depth analysis of the Romanian wind market. With comprehensive market data this report brings clear and concise insights, to help investors in their decision making process. As 2016 and 2017 were challenging years for wind industry, the time for taking right decisions during 2018 and the next few years is limited. Fast changing market environment, requires relevant and accurate information. For your convenience we offer opportunity for orders with customized report content. Reasons to buy this market report are, but no limited to:
- Overview of the Romanian political and economic environment
- Wind resource potential in Romania
- Financial Model and Analysis of 50 MW Wind Power Plant investment in Romania (IRR, WACC, Payback, NPV, Cash Flow, etc.)
- Over 55 charts, tables and maps
- Overview of Romanian wind market development 2000 ÷ 2026
- Grid connected wind installations
- Future market trends and planned wind projects for 2017 ÷ 2026
- Market prices of fully permitted and operational wind projects
- Romanian legal and energy regulatory framework for renewable projects
- Key companies and competitive landscape in wind sector
- Review of most relevant financing and supporting incentives
- SWOT Analysis (detailed in 5 pages)
At next pages you will see the full table of content of this report. To order this report just click on the button "ADD TO CART". If you have any other questions please do not hesitate to call us on ++44 203 60 80 138 or write an e-mail to orders@renewablemarketwatch.com
TABLE OF CONTENTS 3
FOREWORD 8
1 METHODOLOGY AND LIMITATIONS 10
1.1 Research Methodology 10
1.2 Limitations 11
2 EXECUTIVE SUMMARY 12
2.1 Historical and Current Development Overview of Wind Power Market in Romania 12
2.2 Romania Wind Resource Potential 12
2.3 Key Stakeholders Affecting Wind Power Market Development in Romania 13
2.4 Market Drivers and Constraints 14
2.5 Recent and Pending Changes in Renewable Energy Law in Romania 14
2.6 Market Forecast Summary 15
3 ROMANIA POLITICAL AND ECONOMIC ENVIRONMENT. PEST ANALYSIS 17
3.1 Basic Country Data 17
3.2 Political Climate and Ruling Party 21
3.3 GDP and Economic Growth 23
3.4 Taxes 27
3.4.1 VAT 27
3.4.2 Income and Corporate Taxes 28
4 CENTRAL-EAST EUROPE (CEE) AND SOUTH-EAST EUROPE (SEE) POWER MARKET 29
4.1 General Electricity Market information 29
4.2 Wind Power in Energy Sector 35
4.3 Single Electricity Market 38
5 CENTRAL-EAST EUROPE (CEE) AND SOUTH-EAST EUROPE (SEE) WIND POWER MARKET 41
5.1 Market Overview 41
5.2 Cumulative Installed Wind Capacity and Revenue 42
5.3 Annual Installed Wind Capacity and Revenue 43
5.4 Future Development Trends 44
6 ROMANIA POWER MARKET 45
6.1 Electricity Transmission and Distribution 45
6.2 Electricity Consumption and Generation 47
6.3 Electricity Imports and Exports 49
6.4 Electricity Prices for Business and Households 51
6.5 Renewable Energy Sources (RES) Targets 52
7 ROMANIA WIND POWER MARKET 54
7.1 Why Invest in Wind Power in Romania? 55
7.2 Romania Wind Resource Potential 56
7.3 Licensing Period Duration 57
7.4 Regional Substation Capacities for Wind PV Power Projects in Romania 58
7.5 Overview of Wind Power Market in Romania 58
7.6 Market Structure Analysis 62
7.7 Investment Trends and Development Roadmap 62
7.8 Competitive Environment in Wind Power Market 63
7.9 Profiles of Key Players and Investors in Wind Power Market 65
7.10 Cumulative Installed Wind Capacity and Revenue 66
7.11 Annual Installed Wind Capacity and Revenue 67
7.12 Market Prices for Wind Power Projects in Romania in Development, Ready to Build and Operational (Grid Connected) Condition 68
7.13 Key Cost Structure Elements of Wind Power Plant in Romania 69
7.14 Levelized Cost of Energy (LCOE) for Wind Power in Romania 70
7.15 Key Wind Power Projects in Romania Under Development 70
7.16 Mergers and Acquisitions 75
8 DRIVERS AND CONSTRAINTS OF WIND MARKET IN ROMANIA. SWOT ANALYSIS 76
8.1 Market Drivers 77
8.2 Market Drivers Explained 77
8.3 Market Constraints 77
8.4 Market Constraints Explained 77
8.5 SWOT Analysis 77
9 FINANCIAL ANALYSIS OF WIND MARKET IN ROMANIA 81
9.1 Financing Options of Wind Power Projects in Romania 81
9.2 Financial Model and Analysis of 50 MW Wind Power Plant investment in Romania (IRR, WACC, Payback, NPV, Cash Flow, etc.) 86
10 TECHNOLOGY ANALYSIS 89
10.1 Wind Power Technology Overview 89
10.2 Technology Trends 90
11 EUROPEAN RENEWABLE ENERGY POLICY LANDSCAPE 93
11.1 RES Regulations and EU Directives 93
11.1.1 Precedent EU regulations 93
11.1.2 Most recent EU renewable energy policy developments 93
12 ROMANIA RENEWABLE ENERGY SOURCES (RES) LEGAL AND REGULATORY FRAMEWORK 95
12.1 Main Laws and Regulations 95
12.2 Support Schemes 96
12.3 Green Certificates Trading 97
12.4 Fulfilling of Annual Mandatory Quota for Green Certificates 98
12.5 Recent and Pending Changes in Renewable Energy Law in Romania 98
12.6 Zoning, Planning and Construction Related Authorizations 99
12.6.1 Zoning Plans Procedure 99
12.6.2 Building Permit (Construction License) Procedure 99
12.7 Environmental Related Authorizations 100
12.7.1 Natura 2000 Network 100
12.7.2 Clean Development Mechanism (CDM) and Joint Implementation (JI) 101
12.8 Energy Law Authorizations 102
12.8.1 Power Generation Licensing 102
12.8.2 Grid Interconnection 104
12.8.3 Power Off-Take 104
12.8.4 Green Certificates (Guarantees of Origin) 105
12.9 Future Market Pricing Mechanisms 105
13 KEY STAKEHOLDERS AFFECTING WIND POWER MARKET DEVELOPMENT IN ROMANIA 106
13.1 Government Stakeholders 106
13.2 Non-Government Stakeholders 107
13.3 Electricity Generation, Transmission System Operator (TSO) and Distribution System Operators (DSO’s) 108
14 CONCLUSIONS AND RECOMMENDATIONS 116
15 LIST OF ABBREVIATIONS 119
16 REFERENCES 121
17 DISCLAIMER 123
APPENDIX I. WIND RESOURCE MAPS OF EUROPE AND ROMANIA 124
- Map 1: Where is Romania on the World Map 17
Map 2: Romania Road Network 18
Map 3: Romania Administrative Regions Map 20
MAP 4: Romania Historical Regions Map 21
MAP 5: Romania Transmission Grid Network and Saturated Areas for Connection of Wind Power Plants, Renewable Market Watch 46
Map 6: Romania Electricity Grids Network 47
Map 7: Romania Wind Resource Map at 80 m. 55
Map 8: Wind Irradiation and Wind Electricity Potential for Optimally Inclined Photovoltaic Modules in Romania 57
MAP 9: Romania Natura 2000 Areas Map 101
Map 10: Districts Covered by Electrica S.A. 111
Map 11: Districts Covered by E.ON 113
Map 12: Districts Covered by ENEL 114
Map 13: Global Mean Wind Speed at 80 m, 3TIER Inc. 124
Map 14: European Wind Atlas 125
Map 15: Unrestricted technical potential for onshore wind energy up to 2030, based on estimated 80 m. average wind speeds 126
Chart 1: Romania Real GDP Growth for the Period 2000 ÷ 2026 (including forecast) 26
Chart 2: Romania GDP Growth Compared to EU-27 for the Period 2000 ÷ 2026 (including forecast) 27
Chart 3: Corporate Tax Income in Selected Central-East Europe (CEE) and South-East Europe (SEE) Countries 28
Chart 4: Physical Energy Flows Values in GW in Central-East Europe (CEE) and South-East Europe (SEE) in 2017 30
Chart 5: Share of Renewables in Electricity Generation in Selected Central-East Europe (CEE) and South-East Europe (SEE) Countries, 2017 (in %) 32
Chart 6: Average Base Load Electricity Price in Selected European Countries (EUR/MWh): 2008 - 2017 33
Chart 7: Forecast for RES Generation Capacity by Source Type in the EU to 2020 and 2030 (in GW) 34
Chart 8: Net Power Generation Added Capacities in the EU 28 in 2017 (MW) 35
Chart 9: Age of Power Plants in Europe in 2017 36
Chart 10: Share of New Power Generation Capacities Added in the EU 28 in 2017 (MW) 37
Chart 11: Installed Power Generating Capacity per Year (MW) and Renewable Share (in %) 2000 – 2017 37
Chart 12: New Installed and Decommissioned Power Generation Capacity in the EU 27 for 2017 (GW) 38
Chart 13: Cumulative Installed Capacity of Wind Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2000 ÷ 2026, including forecast 42
Chart 14: Cumulative Revenue of Wind Power Plants (in Millions USD) in Central-East Europe (CEE) and South-East Europe (SEE) 2000 ÷ 2026, including forecast 43
Chart 15: Annual Installed Capacity of Wind Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2000 ÷ 2026, including forecast 43
Chart 16: Annual Revenue of Wind Power Plants (in Millions USD) in Central-East Europe (CEE) and South-East Europe (SEE) 2000 ÷ 2026, including forecast 44
Chart 17: Romania Power Market Structure 45
Chart 18: Share of RES electricity from Total Installed Power Capacity in Romania in 2017 47
Chart 19: Romania Total Annual Electricity Consumption (in TWh) 2000 ÷ 2017 48
Chart 20: Romania Power Generation Capacity Breakdown by Source (Fuel) Type in 2017 49
Chart 21: Electricity Imports and Exports in Romania 2000 ÷ 2026 (in TWh) including forecast 50
Chart 22: Romania Targets for Renewable Energy Sources by 2020 (in %) set by National Renewable Energy Action Plan (NREAP) 53
Chart 23: Cumulative Installed Capacity of Wind Power Plants in Romania (in MW) 2000 ÷ 2026, including forecast 66
Chart 24: Cumulative Revenue of Wind Power Plants in Romania (in Millions USD) 2000 ÷ 2026, including forecast 67
Chart 25: Annual Installed Capacity of Wind Power Plants in Romania (in MW) 2000 ÷ 2026, including forecast 68
Chart 26: Annual Revenue of Wind Power Plants in Romania (in Millions USD) 2000 ÷ 2026, including forecast 68
Chart 27: Levelized Cost of Energy (LCOE) for Wind Power in Romania 70
Chart 28: RoSEFF Structure 82
Chart 29: Cumulative Cash Flows and Break-Even Point of 50 MW Wind Power Plant Investment in Romania 88
Chart 30: Wind Power System Price Evolution 2000 ÷ 2017 90
Chart 31: Market Shares by Sales of the Distribution System Operators in Romania in 2017 108
Chart 32: Districts Covered by CEZ 115
Table 1: Electricity Prices for Business and Households 51
Table 2: Support Schemes for RES Generation in the EU Countries and Romania 54
Table 4: Market Prices for Wind Projects in Romania for 2017 ÷ 2026 in Development, Ready to Build and Operational (Grid Connected) Condition 69
Table 5: Key Cost Structure Elements of Wind Power Plant in Romania 69
Table 6: Database with Major Operational, Under Construction and Planned Wind Projects in Romania 72
Table 7: Key Financial Parameters of 50 MW Wind Power Plant Investment in Romania 86
Table 8: Key Financial Viability Indicators of 50 MW Wind Power Plant Investment in Romania (IRR, NPV, Payback, Benefit-Cost) 87
Table 9: Project Costs and Savings (Income) Summary of 50 MW Wind Power Plant Investment in Romania 87
Table 10: Yearly Cash Flows of 50 MW Wind Power Plant Investment in Romania (Pre-tax, After-tax, Cumulative) 88
Table 11: Wind Turbine Prices in 2017 91
Table 12: Green Certificates for Electricity from Renewable Energy Sources (RES) in Romania 105
