European Energy gets Romanian OK for grid link of 500 MW of renewables

European Energy is planning to develop 1.5 GW of renewable energy capacities in Romania, it said in a press release. The company is currently in the process of obtaining grid connection approvals for the rest of the planned capacities.

"For us, Romania is a very attractive market. Auctions expected as part of the renewable energy support scheme in Romania, which amounts to 5 GW, will accelerate the development of new wind and solar energy projects. But we believe that Romania's real potential is more than double the capacity proposed in the scheme," Ioannis Kalapodas, head of Romanian office at European Energy said.

In March, the European Commission approved a 3 billion euro ($3.25 billion) Romanian state aid scheme to support onshore wind and photovoltaic installations, aiming to facilitate 5 GW of new renewable capacity. The support scheme provides for two tender rounds. The first one will be held in 2024, and will fund 2 GW of green energy capabilities, and the second round, which will finance 3 GW, will take place in 2025, Romania's energy ministry said in March.

Founded in 2004, European Energy has a total portfolio of 65 GW of renewable energy projects in 25 countries and employs more than 700 people. The company opened its Romanian subsidiary in 2021.

($ = 0.9237 euro)