Energo: Romania’s renewable energy resurgence

Romania's renewable energy sector has come a long way, navigating periods of stagnation and revival. One of the few constants during this journey has been the European Bank for Reconstruction and Development (EBRD), its persistence and comprehensive support.

A decade of stagnation and renewed momentum

For nearly a decade, Romania’s renewables sector was in dire straits. The boom from 2011 to 2014, driven by the Green Certificate scheme, gave way to a prolonged period of inactivity due to an unfavourable investment climate and regulatory uncertainties. We remained actively engaged, however, assisting Romania in reforming, and modernising its energy sector.

The landscape began to shift in 2020, spurred by the European Union’s Fit for 55 and REPowerEU initiatives, which aim to achieve at least 42.5% of final energy consumption from renewable sources by 2030. This renewed momentum drove a resurgence, but then the Covid-19 pandemic and the war in Ukraine temporarily halted this progress.