Investments in renewables estimated at EUR 7 billion


May 12, 2016





May 12, 2016




Romanian Association of Large Industrial Energy Consumers (ABIEC) presented a report drawn up by PricewaterhouseCoopers, entitled ‘The Impact of Support Schemes of Renewable Energy in Romania and Lessons Learnt from EU Countries’, Act Media carried. According to the document, the value of total direct investments is estimated at EUR 7 billion, most of which in imported equipment.

PwC’s report shows 25% to 35% of the total generates multiplication effects in the Romanian economy. In this respect, in 2014 as many as 5,250 jobs were created, but only a small part of these will be kept for the whole lifetime of the equipment.

In terms of economic and social impact, data show that large electricity consumers in 2011 contributed with EUR 8.1 billion (5.8%) to Romanian gross domestic product. They also contributed that year with EUR 930 million to the state and local budgets, having generated over 5% of state revenues from profit tax, tax on properties, excise duties and royalties.

PwC also said that in 2014 Romania had the third-biggest impact of the support scheme on the price for consumer among the 28 countries of the European Union, and the second-biggest impact of transport or distribution costs on the end-consumer, namely 141%. Romania had the third-biggest impact of the support scheme on the price of end-user within the selected group of countries.

According to the PwC document, between 2011 and 2015 electricity exports increased by more than 300% and domestic consumption remained constant. The support scheme for energy produced from renewable sources was introduced in 2008 to achieve the EU 2020 goal. The target share of renewable energy in final energy consumption (24%) was already reached in 2013 and surpassed in 2014.


Related Articles

Romania renewables statistically attributed Netherlands

Romania’s renewables can statistically be attributed to Netherlands

28 June 2022 - The EU enables countries to pay other member states to formally make up for shortfalls in achieving own green energy targets


EU faces challenges in delivering on ambitious offshore wind target

28 June 2022 - The ambitious target could prove challenging due to expected shortages of specialized offshore wind installation vessels


NASA sets out to develop nuclear power plant on the Moon

28 June 2022 - Success in building such power systems would pave the way for long-term missions on the Moon and Mars, NASA said

EU energy ministers targets renewables energy efficiency

EU energy ministers aiming at more ambitious renewables, energy efficiency targets

28 June 2022 - The Council of the EU wants to boost the renewables and energy savings targets via the Fit-for-55 package, which depends on upcoming talks