Romania’s renewable energy market developed rapidly in the period 2008-2013. Following the ratification of law 220/2008, Romania saw a significant increase in renewable energy investments (2828MW installed capacity) that created more than 7 thousand jobs in the period until 2013.
From 1st July 2013 Romania amended its Green Certificate scheme by deferring the issuance of certificates for the period 1st July 2013 – 1st March 2017. In March 2013 the country’s Energy Regulation Authority published a recommendation for a reduction of the Green Certificates issued to hydro, wind and photovoltaic projects.
With the promulgation of Law 23/2014 by the Romanian President, the Green Certificates deferral proposal was applied only to projects accredited after 31st December 2013. According to several industrial associations and unions in the renewable energy sector, the changes to Romania’s renewable energy regulations have led to a series of bankrupts, insolvencies, and an environment of general regulatory uncertainty.
CWP exited the market in late 2014.
CWP developed a 600 MW wind farm Fantanele and Cogealac, in Constanta County- the largest onshore wind farm in Europe. As at the end of 2012, all 240 turbines are operational, exporting power to the grid.
In 2008, the project was sold to Czech utility group CEZ; upon completion, CEZ's investment in the project will total €1.1 billion, the largest foreign direct investment in Romania's history. Construction on the site began in late 2008 and the first turbines came online in June 2010.
CWP, with Romanian partner Monsson Alma, fully developed the project and also managed its construction, with construction services and equipment supplied by EnergoBit, Viarom, GE Wind Energy, Areva and Emon.
Independenta, a 232 MW fully permitted site, is CWP's second project in Romania. Independenta is located in Galati County, and benefits from favorable wind resource and terrain characteristics, as well as proximity to a major road network and Galati harbor. As with all its projects, CWP has developed Independenta to the highest international standards, in conjunction with the local community and authorities, and has received a favorable decision on its environmental impact based on extensive monitoring of bird, bat and animal populations.
Independenta comprises 113 turbines, one substation and one Main Transformer Station, allowing for connection to a 400kV line running through the site. CWP has signed an Interconnection Agreement and obtained all building permits required for construction, successfully concluding the development process in 2012.