Romania is developing Southeast Europe’s first integrated renewable energy and storage platform, with the country positioning itself as a regional market for integrated renewable generation, energy storage and electricity trading. The power system is described as large and increasingly flexible, supported by accelerating corporate investment and access to EU financing. Demand for grid flexibility is also rising.
Nova Power & Gas, part of Romanian infrastructure group E-INFRA, has announced a €1 billion investment programme running through 2029. The plan will target expanded electricity generation, energy storage and the company’s integrated energy-market platform. It is also intended to strengthen operations in Romania and neighbouring markets, including Hungary and Ukraine.
Hybrid projects combine solar, wind and batteries
A working example cited for Romania’s integrated approach is the Stalpu 2 hybrid plant by Motor Oil Renewable Energy, part of Greece’s Motor Oil Group. The project pairs 63 MW of solar capacity with a 10 MW/21 MWh battery system. Trial operations are described as Motor Oil Renewable Energy’s first operating project outside Greece.
The same project is expected to generate approximately 76 GWh of electricity annually. While the battery is described as having relatively modest storage duration, it is expected to help reduce short-term deviations and shift photovoltaic output into higher-value hours. The battery is also intended to improve dispatch compliance.
Romania has also approved the Deleni hybrid project in Iași County by Shikun and Binui Energy Europe. Developed through Deleni Wind Energy, the project combines solar and wind capacity, including Vestas 7.2 MW turbines. The configuration reflects a broader regional trend of combining complementary generation profiles behind a shared grid connection.
Market value signals for wind versus solar
Within such hybrid portfolios, wind and solar resources are assessed separately, according to the source material. Romanian wind power recorded an indicative market value of €105/MWh, compared with €58/MWh for solar. Wind is described as benefiting from a higher capacity factor and stronger production during winter and non-solar hours.
Solar is described as providing lower-cost daytime generation within the same market context. Storage is presented as a tool to manage overlapping production, forecast errors and grid-connection constraints between the two technologies. The role of storage is linked to balancing costs and congestion risks that are expected to increase.
EU funding and grid constraints shape investment economics
Romania received €636.9 million from the latest EU Modernisation Fund disbursement, described as the largest allocation among eleven beneficiary countries. The funding includes support for standalone energy storage. This access to capital support is described as not available on the same scale in non-EU Western Balkan markets.
The principal risks identified for Romania include grid congestion and connection delays, alongside potential erosion of merchant storage returns as additional capacity enters the market. A 12–18 month delay in grid connection is described as reducing equity IRR by several percentage points. The mechanism cited includes additional interest during construction, delayed revenues and extended development guarantees.
The source material also points to deeper financing and trading options in Romania’s energy market structure. Developers can combine EU grants, commercial bank debt, corporate PPAs, balancing revenues and cross-border trading opportunities. This supports a shift from individual renewable projects toward integrated energy companies managing generation, storage, supply and market exposure within a single portfolio.
