Finland-based renewable energy investor Korkia continues its expansion drive, this time in Romania under a partnership with local renewables developer Econous Green Energy. The duo has announced plans to co-develop 600 MW new solar capacity in the country.
Both the companies expect this 600 MW capacity to generate approximately 780,000 MWh of clean electricity annually when online. It will be enough to cover the electricity requirements of some 200,000 European households.
They expect initial projects to be licensed and ready for construction in 2025.
"Romania's renewable energy development sector is now attracting an increasing number of international investors. The country is in a very good position to increase its capacity, and the government has set ambitious growth targets," said Korkia's Investment Director Peter Goitanich.
He believes Romania is on track to become a renewable energy hub in Southeast Europe as the country grows by over 7 GW over the next decade.
Romania installed 496 MW new solar PV capacity in 2023, contributing to the cumulative total of 1.8 GW, driven majorly by prosumers. The country will now also focus on large-scale solar after getting a clearance from the European Commission for its contracts-for-difference tender scheme for 3 GW solar and 2 GW wind energy parks (see European Commission Backs €3 billion Romanian RE Scheme).
In recent times, Korkia has expanded to several European nations via acquisitions and partnerships. Recently, it joined hands with Global Consulting Energy to co-develop up to 1 GW PV capacity in Italy (see Europe Solar PV News Snippets).