2024 InvesTenergy Conference & Gala

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Our partner, Mihaela Nyerges, was a speaker at the 𝟮𝟬𝟮𝟰 𝗜𝗻𝘃𝗲𝘀𝗧𝗲𝗻𝗲𝗿𝗴𝘆 𝗖𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 & 𝗚𝗮𝗹𝗮 "𝙇𝙚𝙩’𝙨 𝙎𝙝𝙚𝙙 𝙇𝙞𝙜𝙝𝙩 𝙤𝙣 𝙋𝙚𝙤𝙥𝙡𝙚 𝙞𝙣 𝙩𝙝𝙚 𝙀𝙣𝙚𝙧𝙜𝙮 𝙎𝙚𝙘𝙩𝙤𝙧."

A few key takeaways:

🔸 𝗢𝘃𝗲𝗿𝘃𝗶𝗲𝘄 𝗼𝗳 𝗹𝗲𝗴𝗶𝘀𝗹𝗮𝘁𝗶𝘃𝗲 𝗮𝗱𝘃𝗮𝗻𝗰𝗲𝗺𝗲𝗻𝘁𝘀: Significant legislative improvements have been made in recent years, with an open and positive dialogue between the industry and authorities. Often, though, things move slow and the application of the new laws is delayed.

🔸 𝗚𝗿𝗶𝗱 𝗰𝗼𝗻𝗻𝗲𝗰𝘁𝗶𝗼𝗻 𝗹𝗲𝗴𝗶𝘀𝗹𝗮𝘁𝗶𝗼𝗻: Recent changes to grid connection legislation have incorporated many of the proposals made by the energy associations. We hope to see its effects on clearing up the grid and increasing grid transparency so that projects that have financial support start to look better than they currently due, by eliminating the need of reinforcement works artificially caused by unfeasible projects.

🔸 𝗖𝗮𝗽𝗮𝗰𝗶𝘁𝘆 𝗮𝗹𝗹𝗼𝗰𝗮𝘁𝗶𝗼𝗻 𝘂𝗻𝗰𝗲𝗿𝘁𝗮𝗶𝗻𝘁𝗶𝗲𝘀: The auction-based system starting January 2026 introduces uncertainties and concerns among investors. Initiating new greenfield development faces risks considering that the process must be reinitiated if the ATRs are not issued until end-2025. Investors also fear that the new auction system may trigger blockages in capacity allocation, as it happened in other jurisdictions, such as Spain.

🔸 𝗢𝘂𝘁𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝘁𝗼𝗽𝗶𝗰𝘀: Double taxation on storage systems, guarantees of origin, and agrivoltaics projects are some of the critical topics still outstanding. Ongoing discussions and developments offer hope for solutions soon.

🔸 𝗣𝗲𝗿𝗺𝗶𝘁𝘁𝗶𝗻𝗴 𝗰𝗵𝗮𝗹𝗹𝗮𝗻𝗴𝗲𝘀: Challenges persist, notably with the Aeronautical Authority and local authorities, where inconsistent application of the law causes delays in the permitting process.

🔸 𝗦𝘂𝗽𝗽𝗼𝗿𝘁 𝘀𝗰𝗵𝗲𝗺𝗲𝘀: Investors are welcoming the new support schemes launched or announced by the Ministry of Energy, with the CfD scheme being a particularly hot topic these days. Many requests for clarifications were sent to Transelectrica and we hope all such topics will be clarified so as to enable investors to structure their bids.

🔸 𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿 𝗽𝗲𝗿𝗰𝗲𝗽𝘁𝗶𝗼𝗻 𝗼𝗳 𝗥𝗼𝗺𝗮𝗻𝗶𝗮𝗻 𝗺𝗮𝗿𝗸𝗲𝘁: Romania remains an attractive market, with new investors in renewable energy capacities entering the market and new EPC contractors, suppliers, and traders expanding their operations locally.

A huge congratulations to Cristina Trefas and 𝗜𝗻𝘃𝗲𝘀𝗧𝗲𝗻𝗲𝗿𝗴𝘆 for organizing such an outstanding energy event.