On 23rd and 24th of August 2016, more than 50% of the total need of the electric power of Romania was supplied by hydro and wind power generators. While coal-fired power stations supplied 18% and the share of two nuclear reactors at Cernavoda was 16.5%.
Though Romania has oil and gas reserves, substantial coal deposits also have substantial hydroelectric power installed, it still needs to import oil and gas from Russia and other countries. Electric power in Romania is mainly controlled by the government enterprises, although privately operated coal mines and oil refineries also exist. Romania always kept an increasingly heavy emphasis on developing nuclear power. Electric power in the country is provided by the Romanian Electric Power Corporation (CONEL). Energy used to generate electric power consists primarily of nuclear, coal, oil, and liquefied natural gas (LNG). But post Paris agreement it has made great efforts to shift towards green energy and is ahead of EU countries in meeting the targeted goals.
The installed capacity of renewable electricity generation in Romania touched 4,690MW at the end of June 2016 according to the data of grid operator Transelectrica. The wind parks contributed 2,959MW, photovoltaic panels (solar power) 1,312MW, micro-hydroelectric plants 316MW and projects based on biomass with a power chipped 103MW of power. Romania targets to hit the production capacities of renewable energy to 5,142MW by the end of the year.
The Romanian government offers incentives to the green (renewable) energy producers. The renewable energy producers receive green certificates from the government that they sell in a specialized market, this is an additional gain besides the energy they sell. These certificates are paid off by all the consumers from Romania, including the population in the final bill for electricity.
The country is attracting huge investments in the renewable energy sector. As per the official report released in June 2016, investors have put in over EUR 6 billion in Romania’s renewable sector. Radu Dudau who is a specialist in the area of international energy policy, the geopolitics of natural resources and the strategic analysis in the energy field was recently appointed as a coordinator / advisor to the Romanian energy ministry recently said, “Romania’s energy system needs billions of Euros in investments. A scenario considering the situation in which, in 2020, Romania’s obligations in terms of energy policies will need. The main scenario is that of alignment to European obligations, but we also have an ambitious scenario that leaves space for clean energy and decarbonisation.”