- Power has entered the Romanian solar market through a cooperation agreement
- The unidentified partner is identified as a leading developer of solar, wind and hydroelectric projects in Romania
- The 2 companies plan to co-develop up to 100 MW solar PV capacity in the European nation
Poland headquartered renewables company R.Power has entered a cooperation agreement with an unidentified but a ‘leading’ developer of solar, wind and hydroelectric projects in Romania to co-develop up to 100 MW solar PV capacity.
In a statement released, R.Power said it will develop the solar farms across Romania with its partner and that this is just the beginning of its activities in this market. It is negotiating with more PV developers and open to new business opportunities.
R.Power is betting on Romanian market due to the ‘increasingly friendly legislative environment’ here since the country has committed to achieving 30.7% share of renewables in its energy mix by 2030. R.Power said this should mean Romania would need to increase renewable energy capacity by around 6 GW annually over the next 10 years.
Romania’s renewables market is attracting solar developers from beyond its borders. In April 2021, Enel Green Power joined hands with Monsson Alma to co-develop 1 GW of solar and wind energy projects (see 1 GW Renewable Energy Deal For EGP In Romania).
R.Power is expanding to other European nations such as Italy where in March 2021 it claimed to have secured a project portfolio of over 160 MW, and in July 2021 it entered Germany with a cooperation agreement for 80 MW capacity.