EBRD and Romania sign MoU for renewable energy projects
Author: PPD Team Date: December 9, 2024
The European Bank for Reconstruction and Development (EBRD) has signed a memorandum of understanding (MoU) with Romania to support renewable energy development in the country.
The MoU, signed by Romania’s Energy Minister Sebastian Burduja and EBRD Romania head Victoria Zinchuk, will assist in the design and implementation of the next round of renewable energy auctions.
Romania plans to auction 3,500 MW of renewable energy capacities, with the first auction in September 2024 offering 1.5 GW of renewable capacity. This includes 500 MW of solar and 1 GW of onshore wind.
The second round, set to be implemented by the end of 2025, will be supported by the latest MoU, with plans to develop storage capacities and regulatory reforms.
The partnership aims to help Romania meet its 2030 target of 38.3% renewable energy in gross final consumption and to reach 44% from low-carbon sources by 2035.
The EBRD has already financed 1 GW of renewable capacity in Romania, investing over €180 million and leveraging nearly €1 billion from both private and public sources.