Over 700 companies applied to the funding scheme opened last year by the Ministry of Energy, with allocation from the NRRP. Out of the total, more than 500 applicants have entered the final stage of funding, after obtaining the required score and meeting all the necessary conditions.

“At the beginning of March 2022, the Ministry of Energy launched the call under Component 6 - NRRP, which aimed to provide non-reimbursable support for companies that want to increase their energy efficiency by installing renewable solutions, whether from solar, wind, biomass, hydro or other sources. Due to very high demand, the session was extended three times, so the call closed at the end of June. Although almost six months later than the timetable set by the Ministry of Energy, beneficiaries are expected to find out the winning projects in the coming period. More than 70 projects brokered by us will be financed, according to the provisional list published by the Ministry of Energy”, says Roxana Mircea, Managing Partner, REI Grup.

Last autumn, the Ministry of Investment and European Projects (MIEP) launched a final budget allocation for non-reimbursable support under the Large Infrastructure Operational Programme (LIOP) from the old 2014-2020 exercise, aimed at both companies and public authorities that wanted to increase energy efficiency by installing photovoltaic panels or other green energy solutions.

Of the total 268 projects submitted by public authorities - local authorities, county councils, and local councils - more than 20% were brokered by the REI team, in one of the easiest funding programs of 2022, which required much-simplified documentation and an energy analysis replacing feasibility studies, decisions that created a much more efficient way of working.

The REI Grup team submitted more than 40 projects for the company-dedicated sessions.

“On both C6 - NRRP and LIOP 11.1 we have applied, for the most part, for customers whose energy bills have increased at an alarming rate over the last year, especially with the outbreak of war in Ukraine. We are talking about companies in the fields of building materials production, packaging production, or hotels (accommodation facilities)”, Roxana Mircea also said.

The Ministry of Energy is preparing one of the most eagerly awaited green energy funding programs in Romania, with a multi-year allocation of over €1.5 billion. The Modernisation Fund provides companies and local authorities with non-reimbursable funds for investments in renewable energy solutions.

According to the guidelines launched for public consultation last autumn, applicants can obtain up to €20 million in non-repayable support per investment project, both for alternative energy production (solar, wind, biomass, biogas, hydrogen, or hydro) and for self-consumption.

“We look forward to a consolidated and final version of the Guide in April, most likely so that we can provide the best possible guidance to clients on how to submit a complete and well-documented project in this year's most anticipated renewable energy funding session. The Modernisation Fund is part of a new, generously budgeted series of grants that will run until 2030. Following the success of the C6 - NRRP and the LOIP, the Modernisation Fund is the biggest support solution for companies and public authorities looking to invest in green energy. We advise both local authorities and developers of photovoltaic parks to speed up the preparation of feasibility studies and take the necessary steps to obtain the TPA. We have discussions for large and very large projects - both local and international players - which, through planned investments, will put Romania among the countries with the largest renewable energy resources at the European level”, stated Dan Bold, Business Development Manager, REI Grup.

According to REI data, the Ministry of Energy will launch the final version of the Green Energy Investment Sessions Guidelines in April and the calls for funding will most likely open in May.

Romania has the potential to be one of the countries with the highest installed renewable energy capacity in Europe. We're in the top 10 for alternative energy consumption, according to REI.

Electricity production from renewable sources increased by 5% in 2021, while the share of green energy in total consumption at the European level reached 37.5%, Eurostat data show, which places Romania in the top 10 in terms of alternative energy consumption.

More than 40% of Romania's energy consumption is produced from renewable sources, which is above the European average and ahead of much more developed countries such as Italy, France, and Poland.

The top countries with the highest renewable energy consumption are Austria (76.2%), followed by Sweden (over 75%) and Denmark, with Portugal and Croatia rounding out the top three.

“The pipeline of renewable projects from wind, but especially photovoltaic sources, indicates real chances for Romania to enter the top at the European level, both for production and consumption of green energy. If by 2025 we expect at least 3,000 MW of green energy from solar sources to be installed and operational, the commitment made by the authorities is that by 2030 the total capacity of green energy projects will be tripled, to over 10,000 MW, with most of the projects being supported by non-reimbursable financing solutions from the NRRP and the Modernisation Fund. Moreover, private projects will also play a key role, with the possibility of seeing more than 20,000 MW of renewable energy solutions installed in the coming years”, Dan Bold added.

The European Commission has pledged that by 2030 a 40% reduction in greenhouse gas emissions, a more than 30% increase in energy efficiency for all Member States, and almost a third of energy consumption to be produced by green energy solutions.

In the long run, the European Commission's ambition is for all Member States to become climate neutral by 2050.

“The transition to a climate-neutral society is both an urgent challenge and an opportunity to build a better future for all”, the EC plan states.

The European Council endorsed in December 2019 the goal of making the EU climate neutral by 2050, in line with the Paris Agreement.