Romania allocates 1.5 GW of renewable energy projects

The Energy Ministry announced in a Monday statement that Romania had allocated 1.5 gigawatts of renewable energy project funding through an EU-funded contract for difference scheme.

The long-awaited low carbon energy support scheme fixes the price of electricity to providers at a level agreed for 15 years.

The Ministry selected 10 projects for onshore wind worth 1.09 GW and 11 projects with a total capacity of 432 MW.

The energy ministry stated that the projects would have an average weighted cost of 51 euros for solar projects and of 65 euros for wind projects. This is below the initial strike price of 91 euros for solar and of 93 euros respectively.

The CfD program will be supported by 3 billion euro ($3,15 billion), which comes from the Modernisation Fund. This is a program under the European Green Deal, which helps 10 EU member states with lower incomes upgrade their energy systems.

The final tender will cover projects worth 5 GW, and a second one is expected to be held in 2025.

The energy ministry of Romania is seeking a delay in the phase-out of lignite or brown coal. Reporting by Luiza Ili Editing by Kirsten Doovan

(source: Reuters)