Robotul Minerva ca: 
Evaluation of Financial Offers Submitted by Participants in the First Auction of Contracts for Difference (CFD) Successfully Concluded
Contracts have been awarded for over 1,500 MW of new green energy production capacity. Sebastian Burduja, Minister of Energy, stated:
“We had a significant number of participants, and the resulting prices are very competitive, 20–30% below the maximum prices. All our expectations regarding the success of this first auction have been exceeded, confirming investors’ confidence in Romania and the future of our energy system.”
Following the first auction for the State Aid Scheme in the form of Contracts for Difference (CFD) for generating electricity from onshore wind and solar photovoltaic renewable energy sources, the financial evaluation of offers submitted was completed on December 12, 2024. Out of a total of 48 offers submitted for both technologies, 47 were deemed eligible to proceed to the financial evaluation phase. The total offered capacity was 1,196 MW for onshore wind and 1,615 MW for solar photovoltaic.
*”The successful conclusion of the first CFD auction round represents a fulfilled promise during my tenure as Minister of Energy and a series of significant firsts: Romania’s first auction of this kind and the first CFD scheme funded through the European Modernisation Fund. What do these contracts mean? A fixed price for electricity produced by the new capacities over 15 years, determined competitively through public auction.
I am delighted that we had a substantial number of participants and that the resulting prices are very competitive, 20–30% below the maximum prices. All our expectations for this first auction’s success have been exceeded, confirming the trust investors place in Romania and the future of our energy system. This financial support mechanism stimulates investments in renewable energy projects, reduces financial risks for investors, and provides long-term predictability.
This is just the beginning, as new CFD auctions will be organized next year for another 3,500 MW for solar and wind parks, as well as a brand-new scheme for storage capacities. The success of this first round confirms that this is a correct solution, appreciated by investors, and aligns with their expectations. Furthermore, through these contracts, we are fulfilling another milestone from the Recovery and Resilience Plan (PNRR), demonstrating a simple principle – if you want, you can!”*
As a result of the financial evaluation, 21 applicants will be declared winners: 11 for solar photovoltaic projects, totaling 432 MW, and 10 for onshore wind projects, totaling 1,096 MW. Thus, the cumulative winning capacity of 1,528 MW allows Romania to meet the PNRR milestone of signing contracts for generating 1,500 MW of renewable energy.
The following weighted average estimated exercise prices for the first CFD round have been determined based on the winning offers:
- Electricity generation from onshore wind: 65 EUR/MWh
- Electricity generation from solar photovoltaic: 51 EUR/MWh
The minimum and maximum exercise prices for each technology were as follows:
- Onshore wind: Maximum – 77.33 EUR/MWh, Minimum – 54.49 EUR/MWh
- Solar photovoltaic: Maximum – 54.18 EUR/MWh, Minimum – 45.05 EUR/MWh
Each winning bidder will sign CFD contracts at the exercise price offered. Details regarding the offered prices will be available on the Ministry of Energy’s website, under the Contracts for Difference section.
Compared to the results of similar CFD auctions in the European Union—for example, solar photovoltaic technology—the situation is as follows:
The Ministry of Energy would like to extend its gratitude to collaborators and dedicated teams involved, including the CFD Operator (C.N.T.E.E Transelectrica), CFD Counterparty (OPCOM S.A.), and international stakeholders such as the EBRD, the Spanish Embassy, the European Investment Bank, the Modernisation Fund, and technical assistance funders.
Advisory teams:
Photo source: Facebook / Sebastian Burduja
17.12.2024 / Editor, Andreea Dragan
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