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Romania Wind Market Outlook 2013 - 2018

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This market report offers an incisive and reliable overview of the wind sector of the country for the period 2013 ÷ 2018. In view of recent cuts in FIT’s announced in Germany, Spain, France, UK, Czech …

This market report offers an incisive and reliable overview of the wind sector of the country for the period 2013 ÷ 2018. In view of recent cuts in FIT’s announced in Germany, Spain, France, UK, Czech Republic, Slovakia, Bulgaria and Italy, Romania represents a stable investment environment in South-East Europe with clear rules and green certificates support scheme. Current cumulative installed wind capacity in the country is growing fast and Romania is the best performer amongst SEE countries for 2011 and 2012. Romanian market has good chances to reach more than 3,000 MW in the next 2 years. The report provides a complete picture of the market situation, dynamics, current issues and future prospects. You will find more than 60 pages of valuable information in this unique in-depth analysis of the Romanian wind market. With comprehensive market data this report brings clear and concise insights, to help investors in their decision making process. As 2011 and 2012 were challenging years for wind industry, the time for taking right decisions during 2013 and the next few years is limited. Fast changing market environment, requires relevant and accurate information. For your convenience we offer opportunity for orders with customized report content. You may download wind market report presentation and order form from here:

http://www.ineaconsulting.eu/en/downloads/analysis/wind/59-romania

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  • 1. D AKT M RE IWN 21RM NOA AI uo lo 21÷ 08 k 03 Ot
  • 2. Inea Consulting is well established renewable energyadvisory firm focused to emerging markets of EasternEurope, CIS countries and MENA countries.Through its analytical arm Inea Research, thecompany provides independent renewable sectorswatch, customized analysis, market outlooks andsector studies.What makes us different is the quality and accuracy ofinformation, which is interpreted in the best way totake your investment decisions. www.ineaconsulting.eu
  • 3. ROMANIA WIND MARKET: OUTLOOK 2013 ÷ 2018This market report offers an incisive and reliable overview of the wind sector of the countryfor the period 2013 ÷ 2018. In view of recent cuts in FIT’s announced in Germany, Spain,France, UK, Czech Republic, Slovakia, Bulgaria and Italy, Romania represents a stableinvestment environment in South-East Europe with clear rules and green certificatessupport scheme. Current cumulative installed wind capacity in the country is growing fastand Romania is the best performer amongst SEE countries for 2011 and 2012. Romanianmarket has good chances to reach more than 3,000 MW in the next 2 years. The reportprovides a complete picture of the market situation, dynamics, current issues and futureprospects. You will find more than 60 pages of valuable information in this unique in-depthanalysis of the Romanian wind market. With comprehensive market data this report bringsclear and concise insights, to help investors in their decision making process. As 2011 and2012 were challenging years for wind industry, the time for taking right decisions during2013 and the next few years is limited. Fast changing market environment, requiresrelevant and accurate information. For your convenience we offer opportunity for orderswith customized report content. Reasons to buy this market report are, but no limited to: Brief overview of the Romanian political and economic environment Wind resource potential in Romania Overview of Romanian wind market development 2000 ÷ 2018 Grid connected wind installations for 2012/2013 Future market trends and planned wind projects for 2013 ÷ 2018 Current market prices of fully permitted and operational wind projects Romanian legal and energy regulatory framework for renewable projects Key companies and competitive landscape in wind sector Review of most relevant financing and supporting incentives SWOT AnalysisAt next pages you will see the full table of content of this report. To order this reportjust fill in and send us the enclosed at the last page order form. If you have any otherquestions please do not hesitate to call us on ++359 887 342 475 or write an e-mail toorders@ineaconsulting.eu
  • 4. ROMANIA WIND MARKET: OUTLOOK 2013 ÷ 2018 TABLE OF CONTENTSFOREWORD .................................................................................................................... 61. METHODOLOGY .................................................................................................... 82. EXECUTIVE SUMMARY .......................................................................................... 93. ROMANIAN POLITICAL AND ECONOMIC ENVIRONMENT ..................................... 12 3.1. Basic country data ................................................................................................... 13 3.2. Political Climate and Ruling Party ........................................................................... 15 3.3. GDP and Economic Growth ..................................................................................... 16 3.4. Electricity Imports and Exports. Electricity prices for business and households .... 18 3.5. Taxes ........................................................................................................................ 20 3.5.1. VAT ....................................................................................................................... 20 3.5.2. Income and Corporate Taxes ............................................................................... 204. ROMANIAN WIND ENERGY MARKET ................................................................... 21 4.1. General electricity market information .................................................................. 21 4.1.1. Electricity Consumption and Production ............................................................. 22 4.1.2. RES targets to 2020.............................................................................................. 22 4.2. Wind market ............................................................................................................ 25 4.2.1. Why invest in wind energy in Romania? ............................................................. 26 4.2.2. Romanian wind resource potential ..................................................................... 27 4.2.3. Overview of Romanian wind market 2000 ÷ 2018 .............................................. 28 4.2.4. Market prices for WIND projects in Romania ..................................................... 30 4.2.5. Development projects and operational WIND plants in Romania ...................... 30 4.2.6. Key wind companies operating on Romanian market ........................................ 345. EUROPEAN RENEWABLE ENERGY POLICY LANDSCAPE ......................................... 36 5.1. Romanian RES Regulations and EU Directives ........................................................ 36 5.1.1. Precedent EU regulations .................................................................................... 36 5.1.2. Most recent EU renewable energy policy developments ................................... 36 5.2. Renewable energy mandatory targets for Romania set out by the EU .................. 37 5.2.1. Interim targets set out by the EU ........................................................................ 37 5.2.2. National support schemes flexibility allowed by the EU ..................................... 38 5.3. WIND LEGAL Project ................................................................................................ 386. ROMANIAN RENEWABLE LEGAL AND REGULATORY FRAMEWORK....................... 39 6.1. Main laws and regulations ...................................................................................... 39 6.2. Zoning, planning and construction related authorizations ..................................... 40 6.3. Environmental related authorizations .................................................................... 40 6.3.1. Natura 2000 Network .......................................................................................... 41 6.3.2. Joint Implementation .......................................................................................... 41 3
  • 5. ROMANIA WIND MARKET: OUTLOOK 2013 ÷ 2018 6.4. Energy law authorizations ....................................................................................... 42 6.4.1. Power Generation Licensing ................................................................................ 42 6.4.2. Grid Interconnection ........................................................................................... 42 6.4.3. Power Off-Take .................................................................................................... 42 6.4.4. Green certificates ................................................................................................ 43 6.5. Financial Incentives and Support for RES electricity ............................................... 45 6.6. Future market pricing mechanisms ........................................................................ 46 6.7. Key Co-financing opportunities ............................................................................... 46 7. KEY ORGANIZATIONS AND INSTITUTIONS ............................................................ 47 7.1. Government ............................................................................................................ 47 7.1.1. The Ministry of Economy, Trade and Business Environment (METBE) ............... 47 7.1.2. Romanian Energy Regulatory Authority (ANRE) ................................................. 47 7.1.3. Ministry of Environment and Forests (MoEF) ..................................................... 47 7.1.4. Ministry of Agriculture and Rural Development (MARD) ................................... 48 7.2. Distribution System Operators (DSO’s) ................................................................... 48 7.2.1. Electrica SA .......................................................................................................... 49 7.2.2. E.ON Energie ........................................................................................................ 49 7.2.3. CEZ ....................................................................................................................... 51 7.2.4. ENEL ..................................................................................................................... 51 8. SWOT Analysis .................................................................................................... 53 9. CONCLUSIONS ..................................................................................................... 58 10. LIST OF ABBREVIATIONS ...................................................................................... 60 11. REFERENCES ........................................................................................................ 62 12. DISCLAIMER ........................................................................................................ 71 APPENDIX I. WIND MAPS OF EUROPE AND ROMANIA .................................................... 724
  • 6. ROMANIA WIND MARKET: OUTLOOK 2013 ÷ 2018 LIST OF MAPS, CHARTS AND TABLESMap 1: Where is Romania on the European map ................................................................. 13Map 2: Major transport corridors passing through Romania................................................ 13Map 3: Romanian regions ...................................................................................................... 15Map 4: Wind potential of Romania ....................................................................................... 26Map 5: NATURA 2000 areas in Romania ............................................................................... 41Map 6: Districts covered by Electrica SA ............................................................................... 49Map 7: Districts covered by E.ON Energie Romania .............................................................. 50Map 8: Districts covered by CEZ ............................................................................................ 51Map 9: Districts covered by ENEL .......................................................................................... 52Chart 1: Real GDP growth for the period 2000-2018 (including estimates).......................... 17Chart 2: Romanian GDP growth compared to EU-27 for the period 2002 ÷ 2018 ................ 18Chart 3: Electricity imports and exports for the period 2004 ÷ 2018 (in million MWh)including estimations ............................................................................................................. 19Chart 4: Corporate tax income in the region ........................................................................ 20Chart 5: Structure of Romanian electricity market................................................................ 21Chart 6: Share of RES electricity in gross energy consumption 2012 .................................... 22Chart 7: Romanian RES targets in % set by the EU ................................................................ 23Chart 8: Cumulative developments of WIND plants in Romania in MW from 2000 to2018, including estimates ...................................................................................................... 33Chart 9: Market Shares by Sales of the Major DSO’s in Romania in 2012 ............................ 48Chart 10: Structure of E.ON Energie Romania ....................................................................... 50Table 1: Electricity prices for business and households ........................................................ 19Table 2: Support schemes for RES generation in the EU countries ....................................... 25Table 3: Market prices for WIND projects in Romania for 2013 ÷ 2018 .............................. 30Table 4: Selected operational, under construction and planned wind projects in Romania 32Table 5: Green certificates for electricity from WIND sources in Romania........................... 44©2012. All rights reserved. Inea Consulting Ltd., Manufactured in Bulgaria 5