The European Commission has endorsed Romania’s initiative to establish wind energy and reinforce the green economy by approving a €3 billion (about 15.22 billion RON) aid scheme.
This financial support aims to bolster facilities generating electricity from onshore wind and photovoltaic solar energy, facilitating the transition towards a net-zero emissions economy in alignment with the European Green Deal.
In a press release published on its official website a few hours ago, the Commission stated that the approval was granted under the Temporary Crisis and Transition Framework, adopted on March 9, 2023, and amended on November 20, 2023.
This framework supports measures in sectors deemed crucial for accelerating the green transition and reducing reliance on fossil fuels.
Romania, utilizing the Crisis and Transition Framework, notified the Commission of its €3 billion plan to aid facilities producing electricity from onshore wind and photovoltaic solar energy.
This measure will be open to projects focused on constructing and operating new solar photovoltaic and onshore wind power generation facilities.
The assistance will be provided through competitive bidding and will take the form of a two-way contract for difference.
The execution price will be determined through the bidding process, with the reference price calculated as the monthly average production cost based on the next-day market electricity price.
