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. These projects aim to enhance energy independence and reduce electricity costs for public entities through renewable energy investments.
Significant Investments in Solar Parks
The Ministry of Energy in Romania has taken a decisive step toward advancing renewable energy. The government recently signed 55 financing contracts under the Modernization Fund’s Key Program 1. This initiative focuses on renewable energy sources and energy storage. Its primary goal is to support investments in new electricity production capacities from renewable sources.
The total value of the newly signed contracts is 120.9 million RON. These projects will result in an installed power capacity of 18.45 MW. Minister of Energy Sebastian Burduja expressed his commitment to sustainable energy growth during the announcement.
“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 emphasized the importance of this initiative for schools, nurseries, polyclinics, and public lighting systems. He also noted that the savings generated would be reinvested in local communities, boosting 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 mark a major transformation in Romania's energy landscape by prioritizing cleaner and 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 of energy. This output marks 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, other energy production methods faced declines. Thermal power plant production dropped by 1.2% to 14.06 billion kWh. Hydroelectric production fell by 21.3% to 12.53 billion kWh. Nuclear power production decreased by 4.3% to 8.9 billion kWh. Wind power also saw a significant decline, with a reduction of 18.2% compared to last year, which amounts to 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, a 1.3% increase from the previous year. Consumption in the economy rose by 0.9% to 31.54 billion kWh, while population consumption increased by 3%. However, public lighting consumption dropped by 2.4% to 327.2 million kWh.
Strengthening Energy Independence
The Ministry’s push for renewable energy aligns with global trends. 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 capacities. Solar parks can play a crucial role in reducing energy imports and boosting Romania’s energy independence.
Primary energy resources during the first ten months of 2024 totaled 27 million tons of oil equivalent (toe), marking a slight decrease of 1.5% compared to 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 reveal the urgent need for renewable energy investments.
Minister Burduja’s leadership highlights the government’s unwavering focus on investments in renewable energy. “My mandate motto remains the same: investments, investments, investments,” said Burduja. He reiterated 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 is a testament to Romania’s commitment to a greener future. These projects provide cleaner air, cheaper energy, and stimulate economic growth. The funds saved through solar energy projects will support new investments in education, healthcare, and infrastructure.
