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Investments in renewables estimated at EUR 7 billion

Published

May 12, 2016

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Published:

May 12, 2016

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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.

 

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