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Solar energy

Romania Concludes Second Auction Round for Wind and Solar Power with 2.75 GW of New Capacity Awarded

Strategic Insights

— 1 min read

Romania has taken a significant step towards its renewable energy goals by concluding its second auction round for wind and solar power under the Contracts for Difference (CfD) support scheme. The auction round awarded over 2.75 GW of new renewable energy capacity, with solar power accounting for 1.48 GW of the total. The Rezolv Energys Dama Solar project, with a planned capacity of 1.04 GW, was a key winner on the solar side. For wind power, 1.26 GW was awarded across 23 projects, with the Dunrea East project securing the most competitive bid at a strike price of 65.17/MWh.

Key Takeaways:

  • The Rezolv Energys Dama Solar project secured a CfD for 1.04 GW at a planned capacity, making it a key winner in the solar segment.
  • The Dunrea East project, submitted by Midmar Callatisa Romanian company controlled by UK-based Rezolv Energy, secured a CfD for 211 MW at a strike price of 65.17/MWh.
  • The average winning price for wind power projects was 73.89/MWh, while solar projects cleared at a much lower average of 40.35/MWh.
  • The CfD mechanism guarantees fixed prices for project developers over a 15-year period.
  • Romanian company, OMV Petrom, aims to invest in the development of renewable energy projects, with a focus on solar and wind power.
  • The country has set a target of reaching 38% renewable energy in final energy consumption by 2030 and aims to achieve carbon neutrality between 2045 and 2050.

Statistics:

  • 2.75 GW of new renewable energy capacity was awarded in the auction round.
  • 1.48 GW of the awarded capacity is for solar power.
  • 23 wind power projects were awarded 1.26 GW of capacity.
  • The Dunrea East project secured a CfD for 211 MW at a strike price of 65.17/MWh.
  • The average winning price for wind power projects was 73.89/MWh.
  • Solar projects cleared at an average price of 40.35/MWh.
  • Romania has an installed power generation capacity of 22 GW, with 74% of it being CO-free.

Sources:

  • Global Data Point. "Romania Concludes Second Auction Round for Wind and Solar Power with 2.75 GW of New Capacity Awarded." 2022.
  • SyndiGate Media Inc.

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