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April 14, 2021
BUSINESS

Tonucci & Partners: The new investment opportunities on Romanian renewable energy market under the latest legislative amendments

The Law No. 122/2015 for the approval of some measures on the promotion of electricity production from renewable energy sources has come into force this month.

We have asked Tonucci & Partners, an international law firm active for 15 years in Romania with a significant expertise in providing high level legal assistance in the field of renewable energy, about the most important changes operated by the new law and the expected impact of such changes on the Romanian renewable energy market.

According to the Tonucci & Partners’ team of legal experts, the most significant changes brought by the above mentioned law consist in (i) the opening of the electricity market for energy producers registered in other EU Member States and (ii) the stimulation of the small producers of energy.

Under the new law, the current support scheme of promotion of the production of energy from renewable sources by means of green certificates will be also available to the producers from European Union, based on reciprocal agreements concluded with each Member State of the European Union.

The purpose of the new legislative changes is to further incentivize the small producers of energy from renewable sources and economic operators. The Ministry of Energy and the Romanian Energy Regulator (ANRE) will approve a state aid scheme for the production of energy from renewable sources in plants having an installed power below 500 kW.

It is noteworthy that the new referred law has introduced a derogation from the obligation of trading on the regulated market, i.e. the producers of electricity from renewable sources of energy that have plants with an installed power of 1 MW to 3 MW/producer, respectively from 2 MW to 3 MW/producer in the case of high-efficiency cogeneration based on biomass which (i) benefit from the support scheme and (ii) are included in the category of small and medium enterprises may conclude bilateral sale and purchase agreements of energy through direct negotiation.

As far as the impact of the above mentioned changes on the Romanian renewable energy sector is concerned, Tonucci & Partners considers it is reasonable to expect that the latest amendments to the legislation will trigger the increase of the investments on Romanian relevant market, which is expected to become more dynamic after the incentive cuts operated in the second half of 2013.

For a more detailed update about the recent changes in the field of renewable energy, as well as of other relevant legal aspects from the perspective of the investments, you could visit the blog Tonucci & Partners has been publishing for over 4 years in order to keep the clients constantly updated with the relevant regulatory aspects: http://lawrenewablenergy.com/.

 

 

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