The European Bank for Reconstruction and Development (EBRD) has inked a MoU with Romania’s Ministry of Energy to assist in the planning and execution of future renewable energy auctions in Romania. The first auction was opened in September 2024 for 1.5 GW of renewable energy generation capacities comprising 500 MW of solar PV and 1 GW of onshore wind.
This was coupled with the Contract for Difference (CfD) mechanism to support the development of renewable energy installations. Furthermore, under the MOU, EBRD aims to support the implementation of a second round of renewable energy auctions by the end of 2025. Moreover, the agreement includes plans to develop a support framework for energy storage projects alongside competitive storage tenders.
Romania has witnessed the development of numerous new renewable energy projects. In July 2024, Rezolv Energy, through its subsidiary First Looks Solutions S.R.L inked a 10-year VPPA with Bekaert in Romania. Under this agreement, Bekaert will purchase 100 GWh of renewable power annually.
