Romania’s Ministry of Energy has signed 55 financing contracts worth 120.9 million RON to develop solar parks with a total installed capacity of 18.45 MW under the Modernization Fund’s Key Program 1. The initiative aims to enhance energy independence and reduce electricity costs for public entities through renewable energy investments.
Significant Investments in Solar Parks
Romania’s Ministry of Energy has taken a decisive step toward advancing renewable energy. The government recently signed 55 financing contracts as part of the Modernization Fund’s Key Program 1, an initiative that supports new electricity production from renewable sources and energy storage.
Valued at 120.9 million RON, these projects will add 18.45 MW of installed capacity. During the announcement, Minister of Energy Sebastian Burduja emphasized his commitment to sustainable energy growth.
“So far, we have signed projects worth over 1 billion lei for city halls and public institutions. Through these projects, they will build solar parks and reduce electricity bills,” said Burduja.
He highlighted the initiative’s importance for schools, nurseries, polyclinics, and public lighting systems, noting that the savings generated would be reinvested in local communities to boost development at the grassroots level.
The latest contracts mark another milestone in the Ministry’s efforts to expand Romania’s renewable energy portfolio. To date, 367 financing contracts have been signed for solar parks under this call. These projects represent a significant step in transforming Romania’s energy landscape by prioritizing cleaner, more cost-effective energy solutions.
Growth of Solar Energy Production
Romania’s solar energy sector has shown remarkable growth. In the first ten months of 2024, photovoltaic installations produced 3.18 billion kWh, a 55.1% increase compared to the same period in 2023. The data, released by the National Institute of Statistics (INS), includes contributions from prosumers.
While solar energy surged, production from other sources declined. Thermal power plant output dropped by 1.2% to 14.06 billion kWh, hydroelectric production fell by 21.3% to 12.53 billion kWh, and nuclear power decreased by 4.3% to 8.9 billion kWh. Wind power also saw a significant 18.2% reduction from last year, generating 5.07 billion kWh.
The increased focus on solar parks aligns with Romania’s broader energy strategy. Final electricity consumption during the first nine months of 2024 reached 41.55 billion kWh, up 1.3% from the previous year. While consumption in the economy rose by 0.9% and residential use increased by 3%, public lighting consumption dropped by 2.4% to 327.2 million kWh.
Strengthening Energy Independence
This push for renewables is also critical for Romania’s energy trade balance. Electricity exports in 2024 dropped by 3.6% to 9.10 million kWh, while imports rose sharply by 59.7% to 10.82 billion kWh. This reliance on imports underscores the importance of building domestic energy production capacity, where solar parks can play a crucial role.
Primary energy resources during the first ten months of 2024 totaled 27 million tons of oil equivalent (toe), a slight decrease of 1.5% from 2023. Domestic production fell by 4.9% to 14.09 million toe, while imports increased by 2.5% to 12.92 million toe. These statistics highlight the urgent need for renewable energy investments.
Minister Burduja’s leadership highlights the government’s strong focus on renewable energy investments. “My mandate motto remains the same: investments, investments, investments,” he said, reiterating the significance of solar parks for local communities, citizens, and public institutions.
The use of non-reimbursable funds from the Modernization Fund makes these projects more accessible and impactful.
The ongoing development of solar parks demonstrates Romania’s commitment to a greener future. These projects not only provide cleaner air and cheaper energy but also stimulate economic growth. The savings from solar energy will in turn support new investments in education, healthcare, and infrastructure.
