This market report offers an incisive and reliable overview of the wind energy sector of the country for the period 2022 - 2031...
Update: September 2022; 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 №: RMWIN349202295
Delivery: Up to 24 hours by e-mail
Subscription: In the report price is included a 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 2022 ÷ 2031. 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 2021. 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) COVID-19 (Coronavirus) recovery and recent intention of the EU Commission to reduce by two-thirds this year gas import from Russia will impact it. With comprehensive market data, this report brings clear and concise insights, to help investors in their decision-making process. As 2020 and 2021 were challenging years for the wind industry, the time for making the right decisions during 2022 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 are 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 2011 ÷ 2031
- Grid-connected wind installations
- Future market trends and planned wind projects for 2022 ÷ 2031
- 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 ++44 203 807 00 79 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 Forecast Software and Methodology 9
1.2 Limitations 12
2 EXECUTIVE SUMMARY 13
2.1 Historical and Current Development Overview of Wind Power Market in Romania 13
2.2 Romania Wind Resource Potential 13
2.3 Renewable Energy Sources (RES) Policies and Targets 14
2.4 Key Stakeholders Affecting Wind Power Market Development in Romania 14
2.5 Market Drivers and Constraints 14
2.6 Recent and Pending Changes in Renewable Energy Law in Romania 15
2.7 Market Forecast Summary 15
3 ROMANIA POLITICAL AND ECONOMIC ENVIRONMENT. PEST ANALYSIS 16
3.1 Basic Country Data 16
3.2 Political Climate and Ruling Party 20
3.3 GDP and Economic Growth 20
3.4 Taxes 23
3.4.1 VAT 24
3.4.2 Income and Corporate Taxes 24
3.4.3 Exemption of excise duty 25
4 CENTRAL-EAST EUROPE (CEE) AND SOUTH-EAST EUROPE (SEE) POWER MARKET 26
4.1 General Electricity Market information 26
4.2 Wind Power in the of renewable power capacity Energy Sector 32
4.3 Single Electricity Market 35
5 CENTRAL-EAST EUROPE (CEE) AND SOUTH-EAST EUROPE (SEE) WIND POWER MARKET 38
5.1 Market Overview 38
5.2 Cumulative Installed Wind Capacity and Revenue 39
5.3 Annual Installed Wind Capacity 41
5.4 Future Development Trends 41
6 ROMANIA POWER MARKET 43
6.1 Electricity Transmission and Distribution 43
6.2 Electricity Consumption and Generation 45
6.3 Electricity Imports and Exports 49
6.4 Electricity Prices for Business and Households 50
6.5 Renewable Energy Sources (RES) Targets 51
7 ROMANIA WIND POWER MARKET 53
7.1 Why Invest in Wind Power in Romania? 53
7.2 Romania Wind Resource Potential 54
7.3 Licensing Period Duration 55
7.4 Regional Substation Capacities for Wind Power Projects in Romania 56
7.5 Overview of Wind Power Market in Romania 57
7.6 Market Structure Analysis 58
7.7 Investment Trends and Development Roadmap 59
7.8 Competitive Environment in Wind Power Market 60
7.9 Profiles of Key Players and Investors in Wind Power Market 61
7.10 Cumulative Installed Wind Capacity and Revenue 63
7.11 Annual Installed Wind Capacity 65
7.12 Market Prices for Wind Power Projects in Romania in Development, Ready to Build and Operational (Grid Connected) Condition 65
7.13 Key Cost Structure Elements of Wind Power Plant in Romania 66
7.14 Levelized Cost of Energy (LCOE) for Wind Power in Romania 67
7.15 Key Wind Power Projects in Romania Under Development 68
7.16 Mergers and Acquisitions 71
8 DRIVERS AND CONSTRAINTS OF WIND MARKET IN ROMANIA. SWOT ANALYSIS 72
8.1 Market Drivers 72
8.2 Market Drivers Explained 72
8.3 Market Constraints 73
8.4 Market Constraints Explained 73
8.5 SWOT Analysis 74
9 FINANCIAL ANALYSIS OF WIND MARKET IN ROMANIA 78
9.1 Financing Options of Wind Power Projects in Romania 78
9.2 Financial Model and Analysis of 5 MW Wind Power Plant investment in Romania (IRR, WACC, Payback, NPV, Cash Flow, ETC.) 83
10 TECHNOLOGY ANALYSIS 88
10.1 Wind Technology Overview 88
10.2 Technology Trends 89
11 EUROPEAN RENEWABLE ENERGY POLICY LANDSCAPE 91
11.1 RES Regulations and EU Directives 91
11.1.1 Precedent EU regulations 91
11.1.2 Most recent EU renewable energy policy developments 92
12 ROMANIA RENEWABLE ENERGY SOURCES (RES) LEGAL AND REGULATORY FRAMEWORK 93
12.1 Main Laws and Regulations 93
12.2 Support Schemes 94
12.3 Green Certificates Trading 94
12.4 Changes in Renewable Energy Law in Romania in 2019 and 2020 95
12.5 Auction (Tender) Procedure for Wind Power Plants in Romania 98
12.6 Zoning, Planning and Construction Related Authorizations 99
12.7 Environmental Related Authorizations 99
12.7.1 Natura 2000 Network 100
12.7.2 Clean Development Mechanism (CDM) and Joint Implementation (JI) 101
12.8 Energy Law Authorizations 101
12.8.1 Power Generation Licensing and Unlicensed Power Generation Below 1 MW 101
12.8.2 Grid Interconnection 102
12.8.3 Feed-in Tariff (FIT) 104
12.8.4 Power Off-Take for Green Certificates 105
12.8.5 Power Off-Take under Auction (Tender) Scheme 106
12.8.6 Registers for Green Certificates (Guarantees of Origin) 106
12.9 Future Market Pricing Mechanisms 107
13 KEY STAKEHOLDERS AFFECTING WIND POWER MARKET DEVELOPMENT IN ROMANIA 108
13.1 Government Stakeholders 108
13.2 Non-Government Stakeholders 112
13.3 Electricity Generation, Transmission System Operator (TSO) and Distribution System Operators (DSO’s) 113
14 CONCLUSIONS AND RECOMMENDATIONS 121
15 LIST OF ABBREVIATIONS 123
16 REFERENCES 125
17 DISCLAIMER 127
APPENDIX I. WIND RESOURCE MAPS OF EUROPE AND ROMANIA 128
- Map 1: Where is Romania on the European Map 16
Map 2: Romania Road Network 17
Map 3: Romania Administrative Regions Map 19
Map 4: Romania Electricity Grids Network 44
Map 5: Romania Wind Resource Map at 80 m.a.g.l. 54
MAP 6: Romania Natura 2000 Areas Map 100
MAP 7: Global Mean Wind Speed at 80 m.a.g.l. 128
Map 8: European Wind Atlas 129
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) 130
Chart 1: Romania Real GDP Growth for the Period 2011 ÷ 2031 in % (including forecast) 21
Chart 2: Romania GDP Growth Compared to EU-27 for the Period 2011 ÷ 2031 in % (including forecast) 22
Chart 3: Corporate Tax Income in Selected Central-East Europe (CEE) and South-East Europe (SEE) Countries 24
Chart 4: Physical Energy Flows Values in GW in Central-East Europe (CEE) and South-East Europe (SEE) in 2021 27
Chart 5: Breakdown of Electricity Production by Source Type in the EU-27 in 2021 (in %) 29
Chart 6: Average Base Load Electricity Price in Selected European Countries (€/MWh): 2012 - 2022; Renewable Market WatchTM 30
Chart 7: Forecast for RES Generation Capacity by Source Type in the EU to 2030 (in GW) 31
Chart 8: New Installed and Decommissioned Power Capacity by Source Type in the EU in 2021 (MW) 32
Chart 9: Age of Power Plants in Europe in 2021 33
Chart 10: Share of New Power Generation Capacities Added in the EU 27 in 2021 (MW) 34
Chart 11: Annual Installed Power Generating Capacity (MW) and Renewable Share (in %) 2011 - 2021 in the EU 34
Chart 12: Number of Filled Patents for Wind Technologies in CEE & SEE Countries 2011 - 2021, EPO PATSTAT 38
Chart 13: Cumulative Installed Capacity of Wind Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2011 ÷ 2031, including forecast 39
Chart 14: Cumulative Revenue of Wind Power Plants (in Millions USD) in Central-East Europe (CEE) and South-East Europe (SEE) 2011 ÷ 2031, including forecast 40
Chart 15: Annual Installed Capacity of Wind Power Plants (in MW) in Central-East Europe (CEE) and South-East Europe (SEE) 2011 ÷ 2031, including forecast 41
Chart 16: Romania Power Market Structure 43
Chart 17: Share of RES electricity from Total Installed Power Capacity in Romania in 2021 46
Chart 18: Romania Total Annual Electricity Consumption (in TWh) 2011 - 2021 47
Chart 19: Romania Power Generation Capacity Breakdown by Source (Fuel) Type in 2021 48
Chart 20: Electricity Imports and Exports in Romania 2011 ÷ 2031 (in million kWh) including forecast 50
Chart 21: Romania Targets for Renewable Energy Sources by 2030(in %) set by National Renewable Energy Action Plan (NREAP) 52
Chart 22: Chart: Number of Filled Patents for Wind Technologies in Romania 2011 - 2021, EPO PATSTAT 60
Chart 23: Cumulative Installed Capacity of Wind Power Plants in Romania (in MW) 2011 ÷ 2031, including forecast 63
Chart 24: Cumulative Revenue of Wind Power Plants in Romania (in Millions EUR) 2011 ÷ 2031, including forecast 64
Chart 25: Annual Installed Capacity of Wind Power Plants in Romania (in MW) 2011 ÷ 2031, including forecast 65
Chart 26: Levelized Cost of Energy (LCOE) for Wind Power and Other Renewable Technologies in Romania by 2030 (in €) 67
Chart 27: Romanian SEFF Structure 79
Chart 28: Cumulative Cash Flows and Break-Even Point of 50 MW Wind Power Plant Investment in Romania 86
Chart 29: Wind Turbine Price Evolution (€/Wp) 2011 ÷ 2021 89
Chart 30: Market Shares by Sales of the Distribution System Operators (DSOs) in Romania in 2021 113
Table 1: Electricity Prices for Business and Households 51
Table 2: Support Schemes for RES Generation in the EU Countries and Romania 53
Table 3: Market Prices for Wind Projects in Romania for 2022 ÷ 2031 in Development, Ready to Build and Operational (Grid Connected) Condition (2022 Update) 66
Table 4: Key Cost Structure Elements of Wind Power Plant in Romania in 2022 67
Table 5: Database with Major Operational, Under Construction and Planned Wind Projects in Romania 69
Table 6: Key Financial Parameters of 50 MW Wind Power Plant Investment in Romania 84
Table 7: Key Financial Viability Indicators of 50 MW Wind Power Plant Investment in Romania (IRR, NPV, Payback, Benefit-Cost) 84
Table 8: Project Costs and Savings (Income) Summary of 5 MW Wind Power Plant Investment in Romania 85
Table 9: Yearly Cash Flows of 50 MW Wind Power Plant Investment in Romania (Pre-tax, After-tax, Cumulative) 86
Table 10: Wind Turbine Price Trend in 2022 90
