Romania Wind Energy Market Size
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 3.33 gigawatt |
| Market Volume (2029) | 4.12 gigawatt |
| CAGR (2024 - 2029) | 4.35 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Romania Wind Energy Market Analysis
The Romania Wind Energy Market size in terms of installed base is expected to grow from 3.33 gigawatt in 2024 to 4.12 gigawatt by 2029, at a CAGR of 4.35% during the forecast period (2024-2029).
- Over the medium term, the wind energy market in Romania is expected to be driven by favorable government programs and the country's strong wind energy potential during the forecast period.
- On the other hand, the increasing adoption of alternative renewable energy sources such as solar energy is expected to hinder the Romanian wind energy market during the forecast period.
- Nevertheless, the Romanian Ministry of Energy is enforcing new laws on offshore wind energy and help investors build it up. This is expected to create significant opportunities for the market in the forthcoming years.
Romania Wind Energy Market Trends
Onshore Wind Energy to Dominate the Market
- Romania's total installed wind energy capacity was from onshore wind farms is dominating. Wind energy production has been growing in Romania over the past decade. Romania's wind energy sector is the second-largest renewable energy source after hydropower.
- According to Energy Institute Statistical Review of World Energy 2023 data, wind energy generated about 12.56% of Romania's electricity, standing at second position among renewables, behind hydropower.
- Increasing government policies supporting the onshore wind farms are also pushing the wind sector in Romania. In August 2023, Romania launched its first auction for a contracts-for-difference (CfD) support scheme, which will tender 2,000 megawatts of solar PV and wind energy capacity projects, backed by 15-year power purchase agreements (PPAs).
- In January 2023, Vestas announced the closing of a turbine deal with DTEK Renewable International Moldova Eolian for the Ruginosa wind project with 600 MW capacity in Romania. The project will feature ten V162 turbines at 6 MW and have a height of 125 meters.
- According to International Renewable Energy Agency (IRENA) statistics, the onshore wind energy installed capacity in Romania reached 3,015 megawatts in 2022.
- Romania includes second-highest wind potential in Europe as it contains the Dobrogea region, which consists of Tulcea and Constanța counties. The country has an expected wind power potential of 14,000 Megawatt, out of which only a small portion has only been developed.
- Although the installed wind energy capacity has remained constant for the past few years, upcoming wind energy projects and plans to increase the renewable energy share in the country's power generation mix are expected to drive the market during the forecast period.
Increasing Adoption of Alternative Energy Sources Restraining Market Growth
- Romania's renewable energy mix is dominated by wind and hydropower. But this scenario has begun to change fast with the growth of solar energy and bioenergy.
- Romania's solar potential is widespread as well. The country benefits from about 210 sunny days per year and direct solar irradiation levels of around 1100 to 1350 kWh ∙ m–2 per year, which are considered viable for developing large-scale solar PV projects.
- According to International Renewable Energy Agency (IRENA) data, the total capacity of Solar energy sources as of 2022 was 1,414 megawatts (MW), increasing from 1,394 MW in 2021, thus showing the active role of Increasing Solar Energy Installations, restraining the Wind Energy Market in Romania during the forecast period.
- Solar energy has witnessed substantial growth in Romania in recent years, mainly driven by decreasing prices of solar panels, favorable government policies, and their ability to be installed on a small scale for households and commercial centers.
- In 2022, the Romanian government revealed plans to hold the country's first tender for utility-scale renewables projects in the first half of 2022, of which around 2 GW were expected to come from solar power. The ultimate goal of the government is to achieve at least 3 GW of additional renewable capacity by 2026.
- In April 2023, Amsterdam-based Independent Power Producer Photon Energy NV announced that it had finalised three solar PV projects totalling 6 MWp near the city of Calafat, Romania, and connected the plants to the grid. The newly commissioned solar farms have enabled Photon to pass the symbolic milestone of 100 MWp and reach 103.6 MWp of combined generation capacity across its markets.
- Therefore such developments finally results in solar power industry in the country growing faster than the wind power industry. This is expected to slow down the market during the forecast period.
Romania Wind Energy Industry Overview
The Romanian wind energy market is semi-consolidated. Some of the major players (in no particular order) include CEZ Romania, Enel Green Power SpA, Verbund AG, Siemens Gamesa Renewable Energy SA, and EDP Sp Energias de Portugal.
Romania Wind Energy Market Leaders
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VERBUND AG
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Siemens Gamesa Renewable Energy, S.A
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Enel Green Power S.p.A.
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EDP - Energias de Portugal
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CEZ Romania
*Disclaimer: Major Players sorted in no particular order
Romania Wind Energy Market News
- July 2023: the Ministry of Energy, Romania, launched a thirty-day consultation on a draft law on the requirements for Romania's first offshore wind farms in the Black Sea, which are expected to finalize in 2027-2028. The country has also proposed to auction 3 gigawatts of offshore wind under a contract-for-difference (CfD) scheme.
- May 2023: OX2, one of Europe's Sweden-based leading developers of renewable energy sources, in May 2023 has launched a cooperation with global engineering firm Bilfinger Tebodin in the initial engineering stages for the development of an onshore windfarm in the Galati area of Romania.
Romania Wind Energy Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Wind Energy Installed Capacity and Forecast, till 2029
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Favorable Government Policies
4.5.1.2 Strong Wind Energy Potential in Romania
4.5.2 Restraints
4.5.2.1 Development of Alternate renewable energy sources
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
5. Market Segmentation - By Location of Deployment
5.1 Onshore
5.2 Offshore
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 CEZ Romania
6.3.2 Enel Green Power SpA
6.3.3 Verbund AG
6.3.4 Siemens Gamesa Renewable Energy SA
6.3.5 EDP - Energias de Portugal
6.3.6 Nero Renwables NV
- *List Not Exhaustive
6.4 Market Ranking/Share (%) Analysis
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Development of Offshore Wind Energy Farms
Romania Wind Energy Industry Segmentation
The wind makes electricity by turning the energy of moving air into electricity.Modern wind turbines work because the wind turns the rotor blades, which change the kinetic energy of the wind into rotational energy.This rotational energy is sent to the generator through a shaft, which makes electricity.
The Romanian wind energy market is segmented into location of development. By location of development, the market is segmented into onshore and offshore. For each segment, the market size and forecasts have been done based on installed capacity.
Romania Wind Energy Market Research FAQs
How big is the Romania Wind Energy Market?
The Romania Wind Energy Market size is expected to reach 3.33 gigawatt in 2024 and grow at a CAGR of 4.35% to reach 4.12 gigawatt by 2029.
What is the current Romania Wind Energy Market size?
In 2024, the Romania Wind Energy Market size is expected to reach 3.33 gigawatt.
Who are the key players in Romania Wind Energy Market?
VERBUND AG, Siemens Gamesa Renewable Energy, S.A, Enel Green Power S.p.A., EDP - Energias de Portugal and CEZ Romania are the major companies operating in the Romania Wind Energy Market.
What years does this Romania Wind Energy Market cover, and what was the market size in 2023?
In 2023, the Romania Wind Energy Market size was estimated at 3.19 gigawatt. The report covers the Romania Wind Energy Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Romania Wind Energy Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Romania Wind Energy Industry Report
Statistics for the 2024 Romania Wind Energy market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Romania Wind Energy analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
