Romania, Spot prices fell significantly due to increased wind output, SEE Energy News
According to Vice President of the Romanian Wind Energy Association (RWEA) Adrian Borotea, wind generation was accounted for about a third of the national electricity production on 8 February, which led to a significant drop in electricity prices on the OPCOM energy exchange.
Borotea said that wind output reached 2,700 MW on 8 February, out of maximum 3,000 MW, which, in combination with lower consumption, prompted the decrease in electricity prices on the exchange. On 8 February, Romania was electricity exporter. This proves the concept that further investments in renewable energy capacity in Romania will lead to lower electricity prices in the market.
He recalled that, through the National Integrated Energy Plan for Climate Change, Romania is planning to double the capacity installed in wind power by 2030. According to Borotea, banks are now more open and confident to finance renewable energy projects and, by the end of the year, 2,000 to 3,000 MW of new onshore wind capacity should be installed. This year, after many years of timid, local and random investment, there will be large new investments that will steer the country towards reaching 2030 targets.
According to Borotea, the most important thing for investors in renewable energy is to sign long-term power purchase agreements (PPA).