Menu

New Horizons for Solar Power Market Romania big

/LONDON, November 10, 2021, 14:30 GMT, RENEWABLE MARKET WATCHTM/ The 155MW project will be one of Romania's largest solar photovoltaic power plants. It is located on Ratesti, Arges county, on a land plot with approximately 165 hectares. There is no information disclosed about the deal price. Earlier this year, Portland Trust announced its plans to create a portfolio of more than 500MW solar projects in Romania. According to the Renewable Market Watch, this deal is only the beginning of many deals for new large scale solar projects in Romania that local and international investors will announce in 2022 and 2023.

Established in 1997, Portland Trust is a commercial real estate developer and asset manager with offices in Prague and Bucharest. The company has focused on constructing new commercial property mainly in the office, retail and light industrial sectors, always in excellent locations or where new infrastructure is being developed.

Nofar Energy is a public, global, and entrepreneurial company in the field of renewable energy. Founded in 2011, the company has evolved at incredible speed thanks to its multidisciplinary capabilities that enable flexibility and speed, while executing projects independently.

The company is founded on strong organizational infrastructure and operates in three main areas – project development, EPC, and O&M – based on its strong capabilities for conducting development, permitting, planning, financing, constructing, operating and maintenance, and long-term holding. Integrating these capabilities enables the company to promote projects throughout the value chain while complying with strict standards.

In December 2020, Nofar Energy launched its IPO on the Tel Aviv Stock Exchange at a value that positioned it as the third-largest renewable energy company in Israel from a market value aspect.

The company’s activities include ground-mounted solar projects, floating solar projects on water reservoirs, rooftop solar projects, and electricity storage projects. Nofar Energy has developed an impressive portfolio of projects in these realms in Israel and Europe, covering thousands of megawatts.

By the end of 2011, the country had approximately 3 MW installed capacity, by the end of 2012 this capacity increased fourteenfold to approximately 42 MW, and with a more than thirty-fold explosive growth cumulative installed capacity reached 1,293 MW (1.29 GW) by the end of 2014. However, solar photovoltaic market growth in Romania between 2015 and 2020 was moderate with only 97 MW newly installed capacity in this period.

Romania Solar Resource Potential

Romania has very good solar resource potential as the geographical location is favourable for utilising solar energy. Romania is located in an area with a solar potential of 210 sunny days per year and with an annual solar energy flux between 1,000 kWh/m²/year and 1,300 kWh/m²/year. From this total amount, around 600 to 800 kWh/m²/year is technically feasible.

Romania Solar Resource Map 2019 Reduced JPEG

Chart 1: Solar Resource Map of Romania; Sources: Wolrd Bank Group, ESMAP, SolarGis

According to the study of the Faculty of Energy Engineering at the University of Oradea in the South of Romania, the yearly solar radiation is 1450 ÷ 1750 kWh / m², being the best value for solar installations. The values greater than 1450 kWh/m² are in Oltenia, Muntenia, and the South of Moldova. The most important solar regions of Romania are the Black Sea coast, Dobrogea, and Oltenia with an average of 1,600 kWh/m²/year.

Share of Solar PV in Romanian Power Generation Capacity

The industry is the key consumer of electricity for the country (metallurgy, chemical industry, energy and machine construction), followed by households and the transportation industry. The Romanian economy is overall energy-intensive compared to the economies of the neighbourhood countries. Interconnections with EU countries have improved, stabilizing the power system.

Romania Power Generation Capacity Breakdown by Source Fuel Type in 2019

Chart 2: Romania Power Generation Capacity Breakdown (in %) by Source (Fuel) Type in 2019; Sources: Transelectrica, National Statistics Office of Romania, Renewable Market Watch™

The total installed power generating capacity in Romania is 20,696GW at the end of 2019, reported the Renewable Market Watch™ based on data of Transelectrica. Some 31.4 % of that capacity is hydro (6,703MW), 6.8 % is nuclear (1,413MW), 15.7 % is natural gas (3,240MW) and coal accounts for 23.1% (4,787MW). Wind accounts for 14.6 % (3,023MW), solar photovoltaic accounts for 6.7 % (1,390MW), other renewables (biomass, biogas, geothermal, etc.) account for less than 1%.

Conclusions

The Romanian solar energy market is expected to be heading toward the expansion phase by 2030. Factors propelling the market growth include concerns regarding the environmental impacts of fossil fuels such as degradation, greenhouse gas emissions (GHG), severe climate change conditions, and others. Also, rapid urbanization and economic growth in the largest Romanian cities are significant factors driving the solar energy market. The power market (including the solar photovoltaic sector) in Romania shall be impacted by the COVID-19 post-financial crisis, but we remain optimistic about the future development of solar energy in the country by 2030.

The more information about the solar power market in Romania including full contact details of solar project owners and developers you may read here: Romania Solar Photovoltaic (PV) Power Market Outlook 2021÷2030

In order to download the executive summary brochure with sample pages, please access from here: Romania Solar Photovoltaic (PV) Power Market Outlook by 2030 - Sample

For a better understanding of the benefits of using our reports, you may read here: Benefit List - Reports of Renewable Market Watch - 2021

 About Renewable Market Watch™

Renewable Market Watch™ is delivering strategic insight into emerging renewable energy markets through its experienced research team and cutting edge predictive analytics data platform. We partner with our customers to provide research, data and consulting reports in areas appropriate to their specific requirements. Our primary focus is emerging renewable energy markets of the Asia Countries, Balkan countries, Central and Eastern Europe, CIS states (the former Soviet Union), LATAM countries, and MENA countries. For more information about Renewable Market Watch™ please visit:
http://renewablemarketwatch.com/about-us

×
This website uses cookies to enhance your browsing experience.
×
discount