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noviembre 27, 2024

Romania Bets on BESS Energy Storage to Stabilize Its Power Grid

Rumania is experiencing its first wave of battery storage projects, driven by the need to balance an overloaded power grid and the financial opportunities offered by Contracts for Difference (CfD). Developers see this segment as key to ensuring system stability and attracting investments in a rapidly growing market, according to Radu Eremciuc, CEO of GREEN BALKANS ENERGY, in an interview with Energía Estratégica España.
By Emilia Lardizabal

By Emilia Lardizabal

noviembre 27, 2024
Rumania almacenamiento Romania

Romania’s renewable energy market is experiencing the first wave of Battery Energy Storage System (BESS) projects, driven by strategic regulations and the pressing need to stabilize the power grid.

“The grid situation in Romania is in very poor condition, and many solar parks are being built, which is destabilizing the system. That’s why the only quick solution to address the problem is energy storage with batteries, because rebuilding a grid in a country like Romania will take decades,” says Radu Eremciuc, CEO of Green Balkans Energy, in an interview with Energía Estratégica España.

“Battery energy solutions are a fast, efficient, and very accessible way to balance the grid, as we need stabilization due to the many solar parks that will emerge in the near future,” Eremciuc adds.

He also highlights that the grid requires auxiliary services, which are highly profitable in Romania, offering an “excellent return on investment” for developers betting on this segment of green energy.

growatt

“We, in solar plants, are providing these services. We’re helping investors enter Romania by co-developing ready-to-build projects or participating in EPC services with them, bringing projects to the required stage,” the executive explains.

Eremciuc emphasizes that the future of energy storage in the country is promising and that this development phase is just the beginning. “This offers investors the opportunity to enter a market where competition isn’t as high, and those who come first will gain better benefits,” he adds.

He also mentions the potential to replicate storage experiences from countries like Poland, Denmark, and Norway, aspiring to reach their levels of development.

Contracts for Difference (CfD) Scheme: A Key Financial Driver

One of the most significant advancements for the renewable energy sector includes fiscal incentives such as the Contracts for Difference (CfD) schemes and a modernization fund driven by the European Union, which provides grants for developers of solar plants and battery energy storage solutions.

Notably, Romania implemented the CfD scheme for the first time this year, becoming the first EU country to adopt it with European funding, according to Eremciuc, amounting to €3 billion.

Negotiations concluded on November 18, and the sector is now awaiting the results. The CfD scheme set price caps at €82/MWh for wind projects and €78/MWh for solar projects. This mechanism aims to create price stability and minimize long-term financial risks for investors.

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