New Subsidy Mechanism for Renewable Energy in Romania: Sebastian Burduja, Ministry of Energy of Romania, has approved the Contracts for Difference (CfD) subsidy mechanism for wind and solar power projects. This groundbreaking financial support mechanism aims to develop 1 GW of onshore wind and 500 MW of solar capacity this year, with an additional 3 GW planned for next year.
Funded through a EUR 3 billion package from the European Union’s Modernisation Fund, CfDs ensure stable income for green energy investments. They are a key component of Romania’s National Recovery and Resilience Plan (PNRR). The first round of tenders will be held by the end of the year, with another round by the end of Q3 next year.
Romania is also preparing a massive subsidy mechanism for energy storage projects.
Source: Balkan Green Energy News
