This market report offers an incisive and reliable overview of the wind energy sector of the country for the period 2021 - 2030...
Update: September 2021; 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 №: RMWIN349202195
Delivery: Up to 24 hours by e-mail
Subscription: In the report price is included subscription for 1 year period with up to 4 quarterly updates
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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 2021 ÷ 2030. Romania is a country located at the crossroads of Central, Eastern, and Southeastern Europe. It borders the Black Sea to the southeast, Bulgaria to the south, Ukraine to the north, Hungary to the west, Serbia to the southwest, and Moldova to the east. It has a predominantly temperate-continental climate. With a total area of 238,397 square kilometres (92,046 sq mi), Romania is the 12th largest country and also the 7th most populous member state of the European Union, having almost 20 million inhabitants. According to cumulative installed wind capacity, Romania is among the best performers amongst SEE countries in the past 5 years.
Despite the reduction of the number of green certificates from the beginning of 2014 Romanian market reached more than 3,100 MW cumulative installed wind capacity at the end of 2020. 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 will receive an overview of how the COVID-19 (Coronavirus) will impact it. With comprehensive market data, this report brings clear and concise insights, to help investors in their decision-making process. As 2019 and 2020 were challenging years for the wind industry, the time for making the right decisions during 2021 and the next few years is limited. A fast-changing market environment requires relevant and accurate information. For your convenience, we offer the opportunity for orders with customized report content. Reasons to buy this market report are, but not 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 2010 ÷ 2030
- Grid-connected wind installations
- Future market trends and planned wind projects for 2021 ÷ 2030
- Market prices of fully permitted and operational wind projects
- Romanian legal and energy regulatory framework for renewable projects
- Key companies and competitive landscape in the wind sector
- Review of most relevant financing and supporting incentives
- SWOT Analysis (detailed in 5 pages)
On the 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 7
1 METHODOLOGY AND LIMITATIONS 8
1.1 Research Methodology 8
1.2 Limitations 9
2 EXECUTIVE SUMMARY 10
2.1 Historical and Current Development Overview of Wind Power Market in Romania 10
2.2 Romania Wind Resource Potential 10
2.3 Renewable Energy Sources (RES) Policies and Targets 11
2.4 Key Stakeholders Affecting Wind Power Market Development in Romania 11
2.5 Market Drivers and Constraints 11
2.6 Recent and Pending Changes in Renewable Energy Law in Romania 12
2.7 Market Forecast Summary 12
3 ROMANIA POLITICAL AND ECONOMIC ENVIRONMENT. PEST ANALYSIS 13
3.1 Basic Country Data 13
3.2 Political Climate and Ruling Party 17
3.3 GDP and Economic Growth 17
3.4 Taxes 20
3.4.1 VAT 21
3.4.2 Income and Corporate Taxes 21
3.4.3 Exemption of excise duty 22
4 CENTRAL-EAST EUROPE (CEE) AND SOUTH-EAST EUROPE (SEE) POWER MARKET 23
4.1 General Electricity Market information 23
4.2 Photovoltaics (Wind) in Energy Sector 29
4.3 Single Electricity Market 32
5 CENTRAL-EAST EUROPE (CEE) AND SOUTH-EAST EUROPE (SEE) WIND POWER MARKET 35
5.1 Market Overview 35
5.2 Cumulative Installed Wind Capacity and Revenue 36
5.3 Annual Installed Wind Capacity 38
5.4 Future Development Trends 38
6 ROMANIA POWER MARKET 40
6.1 Electricity Transmission and Distribution 40
6.2 Electricity Consumption and Generation 42
6.3 Electricity Imports and Exports 46
6.4 Electricity Prices for Business and Households 47
6.5 Renewable Energy Sources (RES) Targets 48
7 ROMANIA WIND POWER MARKET 50
7.1 Why Invest in Wind Power in Romania? 50
7.2 Romania Wind Resource Potential 51
7.3 Licensing Period Duration 52
7.4 Regional Substation Capacities for Wind Power Projects in Romania 53
7.5 Overview of Wind Power Market in Romania 54
7.6 Market Structure Analysis 55
7.7 Investment Trends and Development Roadmap 56
7.8 Competitive Environment in Wind Power Market 57
7.9 Profiles of Key Players and Investors in Wind Power Market 58
7.10 Cumulative Installed Wind Capacity and Revenue 60
7.11 Annual Installed Wind Capacity 62
7.12 Market Prices for Wind Power Projects in Romania in Development, Ready to Build and Operational (Grid Connected) Condition 62
7.13 Key Cost Structure Elements of Wind Power Plant in Romania 63
7.14 Levelized Cost of Energy (LCOE) for Wind Power in Romania 64
7.15 Key Wind Power Projects in Romania Under Development 65
7.16 Mergers and Acquisitions 68
8 DRIVERS AND CONSTRAINTS OF WIND MARKET IN ROMANIA. SWOT ANALYSIS 69
8.1 Market Drivers 69
8.2 Market Drivers Explained 69
8.3 Market Constraints 70
8.4 Market Constraints Explained 70
8.5 SWOT Analysis 71
9 FINANCIAL ANALYSIS OF WIND MARKET IN ROMANIA 75
9.1 Financing Options of Wind Power Projects in Romania 75
9.2 Financial Model and Analysis of 5 MW Wind Power Plant investment in Romania (IRR, WACC, Payback, NPV, Cash Flow, ETC.) 80
10 TECHNOLOGY ANALYSIS 85
10.1 Wind Technology Overview 85
10.2 Technology Trends 86
11 EUROPEAN RENEWABLE ENERGY POLICY LANDSCAPE 88
11.1 RES Regulations and EU Directives 88
11.1.1 Precedent EU regulations 88
11.1.2 Most recent EU renewable energy policy developments 89
12 ROMANIA RENEWABLE ENERGY SOURCES (RES) LEGAL AND REGULATORY FRAMEWORK 90
12.1 Main Laws and Regulations 90
12.2 Support Schemes 91
12.3 Green Certificates Trading 91
12.4 Changes in Renewable Energy Law in Romania in 2020 92
12.5 Auction (Tender) Procedure for Wind Power Plants in Romania 95
12.6 Zoning, Planning and Construction Related Authorizations 96
12.7 Environmental Related Authorizations 96
12.7.1 Natura 2000 Network 97
12.7.2 Clean Development Mechanism (CDM) and Joint Implementation (JI) 98
12.8 Energy Law Authorizations 98
12.8.1 Power Generation Licensing and Unlicensed Power Generation 98
12.8.2 Grid Interconnection 99
12.8.3 Feed-in Tariff (FIT) 101
12.8.4 Power Off-Take for Green Certificates 102
12.8.5 Power Off-Take under Auction (Tender) Scheme 103
12.8.6 Registers for Green Certificates (Guarantees of Origin) 103
12.9 Future Market Pricing Mechanisms 104
13 KEY STAKEHOLDERS AFFECTING WIND POWER MARKET DEVELOPMENT IN ROMANIA 105
13.1 Government Stakeholders 105
13.2 Non-Government Stakeholders 109
13.3 Electricity Generation, Transmission System Operator (TSO) and Distribution System Operators (DSO’s) 110
14 CONCLUSIONS AND RECOMMENDATIONS 118
15 LIST OF ABBREVIATIONS 120
16 REFERENCES 122
17 DISCLAIMER 124
APPENDIX I. WIND RESOURCE MAPS OF EUROPE AND ROMANIA 125
- Map 1: Where is Romania on the European Map 13
Map 2: Romania Road Network 14
Map 3: Romania Administrative Regions Map 16
Map 4: Romania Electricity Grids Network 41
Map 5: Romania Wind Resource Map at 80 m.a.g.l. 51
MAP 6: Romania Natura 2000 Areas Map 97
MAP 7: Global Mean Wind Speed at 80 m.a.g.l. 125
Map 8: European Wind Atlas 126
Map 9: Unrestricted technical potential for onshore wind energy in the EU countries up to 2030, based on estimated 80 m.a.g.l average wind speeds (incl. Romania) 127
Chart 1: Romania Real GDP Growth for the Period 2010 ÷ 2030 in % (including forecast) 18
Chart 2: Romania GDP Growth Compared to EU-27 for the Period 2010 ÷ 2030 in % (including forecast) 19
Chart 3: Corporate Tax Income in Selected Central-East Europe (CEE) and South-East Europe (SEE) Countries 21
Chart 4: Physical Energy Flows Values in GW in Central-East Europe (CEE) and South-East Europe (SEE) in 2020 24
Chart 5: Breakdown of Electricity Production by Source Type in the EU-28 in 2020 (in %) 26
Chart 6: Average Base Load Electricity Price in Selected European Countries (€/MWh): 2010 – 2020; Renewable Market WatchTM 27
Chart 7: Forecast for RES Generation Capacity by Source Type in the EU to 2020 and 2030 (in GW) 28
Chart 8: New Installed and Decommissioned Power Capacity by Source Type in the EU in 2020 (MW) 29
Chart 9: Age of Power Plants in Europe in 2019 30
Chart 10: Share of New Power Generation Capacities Added in the EU 28 in 2020 (MW) 31
Chart 11: Annual Installed Power Generating Capacity (MW) and Renewable Share (in %) 2010 – 2020 in the EU 32
Chart 12: Number of Filled Patents for Wind Technologies in CEE & SEE Countries 2010 – 2020 35
Chart 13: Cumulative Installed Capacity of Wind Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2010 ÷ 2030, including forecast 36
Chart 14: Cumulative Revenue of Wind Power Plants (in Millions USD) in Central-East Europe (CEE) and South-East Europe (SEE) 2010 ÷ 2030, including forecast 37
Chart 15: Annual Installed Capacity of Wind Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2010 ÷ 2030, including forecast 38
Chart 16: Romania Power Market Structure 40
Chart 17: Share of RES electricity from Total Installed Power Capacity in Romania in 2020 43
Chart 18: Romania Total Annual Electricity Consumption (in TWh) 2010 – 2020 44
Chart 19: Romania Power Generation Capacity Breakdown by Source (Fuel) Type in 2020 45
Chart 20: Electricity Imports and Exports in Romania 2020 ÷ 2030 (in million kWh) including forecast 47
Chart 21: Romania Targets for Renewable Energy Sources by 2030 (in %) set by National Renewable Energy Action Plan (NREAP) 49
Chart 22: Chart: Number of Filled Patents for Wind Technologies in Romania 2010 – 2020 57
Chart 23: Cumulative Installed Capacity of Wind Power Plants in Romania (in MW) 2010 ÷ 2030, including forecast 60
Chart 24: Cumulative Revenue of Wind Power Plants in Romania (in Millions EUR) 2020 ÷ 2030, including forecast 61
Chart 25: Annual Installed Capacity of Wind Power Plants in Romania (in MW) 2020 ÷ 2030, including forecast 62
Chart 26: Levelized Cost of Energy (LCOE) for Wind Power and Other Renewable Technologies in Romania by 2030 (in €) 64
Chart 27: Romanian SEFF Structure 76
Chart 28: Cumulative Cash Flows and Break-Even Point of 50 MW Wind Power Plant Investment in Romania 83
Chart 29: Wind Turbine Price Evolution (€/Wp) 2010 ÷ 2020 86
Chart 30: Market Shares by Sales of the Distribution System Operators (DSOs) in Romania in 2020 110
Table 1: Electricity Prices for Business and Households 48
Table 2: Support Schemes for RES Generation in the EU Countries and Romania 50
Table 3: Market Prices for Wind Projects in Romania for 2020 ÷ 2030 in Development, Ready to Build and Operational (Grid Connected) Condition (2021 Update) 63
Table 4: Key Cost Structure Elements of Wind Power Plant in Romania in 2020 64
Table 5: Database with Major Operational, Under Construction and Planned Wind Projects in Romania 66
Table 6: Key Financial Parameters of 50 MW Wind Power Plant Investment in Romania 81
Table 7: Key Financial Viability Indicators of 50 MW Wind Power Plant Investment in Romania (IRR, NPV, Payback, Benefit-Cost) 81
Table 8: Project Costs and Savings (Income) Summary of 5 MW Wind Power Plant Investment in Romania 82
Table 9: Yearly Cash Flows of 50 MW Wind Power Plant Investment in Romania (Pre-tax, After-tax, Cumulative) 83
Table 10: Wind Turbine Price Trend in 2021 87
