Romania is emerging as one of the more attractive solar PV markets in Central & Eastern Europe, driven by a maturing support framework, growing project pipeline, and improving financing conditions.
Why Romania now?
- Lower revenue risk via CfDs (Contracts for Difference). Romania’s CfD scheme for solar and onshore wind is EU-approved and aims to provide long-term price stability, improving bankability.
- Strong market momentum. Romania surpassed roughly 5 GW of installed PV capacity in 2024, with continued additions expected.
- Competitive auction outcomes. Romania’s second CfD round awarded approximately 1.5 GW of solar, with reported prices around €35.5–€45.2/MWh—a useful signal for cost of capital and investor appetite.
- Growing PPA market. With policy shifts enabling long-term power contracting, PPAs are becoming a practical complement (or alternative) to CfDs for route-to-market planning.
What to watch out for (investor checklist)
- Grid connection is the critical path. ANRE’s updated grid connection framework (Order 20/2025) is designed to discourage speculation and prioritize mature projects, including tighter procedures and financial guarantees. Build this into timelines and cash planning early.
- Land, permitting, and constraints. Validate title/lease structure, easements, environmental restrictions, and permitting applicability (rules may differ by project type).
- Route-to-market strategy. Decide early between CfD, corporate PPA, merchant, or a blended structure. Stress-test for curtailment, imbalance costs, and settlement mechanics.
- Execution realism. Auction milestones, commissioning deadlines, and grid reinforcement needs can influence schedule and capex. Track these factors closely in your diligence and contracting strategy.
At Momentum Energy, we support investors end-to-end—from site screening and yield assessment to grid strategy, permitting support, EPC evaluation, and bankability/revenue structuring.
