The Region’s Utility-Scale Solar and Wind Projects: Growth Amidst Challenges

At the Utility-Scale Solar and Wind panel during Energy Week Black Sea 2025, prominent industry stakeholders discussed the region’s renewable energy ambitions, outlining both progress and persistent challenges in scaling up solar and wind projects.

Ionut Ciubotaru, Vice President at OMV Petrom, highlighted the company’s €3 billion investment in a 2.5 GW renewable energy portfolio. “Our focus on integrating gas and renewables into virtual power plants exemplifies our commitment to a smooth energy transition,” he stated. Ciubotaru also emphasised the potential of low-carbon hydrogen technologies, which OMV Petrom is exploring through methane pyrolysis initiatives.

Tatiana Fiodorov, Managing Partner at Fiodorov & Partners, stressed the legal and regulatory obstacles faced by renewable energy developers. “Ambiguities in zoning regulations, especially around battery storage, continue to slow progress despite recent legislative improvements,” Fiodorov explained. She called for clearer guidelines and faster permitting processes to attract more investment.

Olga Kovalchuk, Head of Finance and Investment at Goldbeck Solar, shared insights from her company’s expansion into Romania and Ukraine. “Long-term project finance is critical, and compliance with rigorous ESG standards is essential for gaining investor trust,” she noted. Kovalchuk praised the opportunities Romania offers but warned that infrastructure bottlenecks, particularly in grid connection, remain a significant hurdle.

Miguel Jiménez, CEO of AJ Brand, echoed these concerns, pointing to the high costs of grid reinforcements as a key challenge. “Battery storage and hybrid solutions will be vital for overcoming grid capacity limitations,” he argued. Jiménez also highlighted the need for stable regulations to ensure project feasibility and attract more investors.

Iulia Meirosu, CFO and Board Member at Enexus, provided a perspective on the investment landscape. “The real challenge lies in distinguishing genuinely viable projects from those merely appearing ready-to-build,” Meirosu explained. She underscored the importance of robust due diligence and local partnerships to navigate Romania’s regulatory and infrastructural complexities effectively.

Valeriu Panait, Deputy CEO of Polytrade Global, concluded with a focus on operational realities, advocating for realistic project timelines and balanced risk-sharing between investors and EPC contractors. “Tight deadlines often strain resources, but clear communication and planning can mitigate these pressures,” Panait stated.

The panel’s overarching message was optimistic yet pragmatic. While Romania’s renewable energy sector is poised for significant growth, achieving its full potential requires targeted reforms, including grid infrastructure upgrades, streamlined permitting, and enhanced collaboration between public and private sectors. The Black Sea region, with Romania as a central player, holds immense promise for renewable energy, provided these challenges are addressed swiftly and decisively.