Romania Power EPC Market Outlook 2024-2028

The power EPC market in romaniais set to grow significantly, with a forecasted increase of USD 155.89 million at a CAGR of 3.84% between 2023 and 2028. The market is driven by the expansion of renewable energy capacity, declining greenhouse gas (GHG) emissions, and the impact of the European Union's Green Deal on Romania’s energy sector.

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Market Segmentation

By Application

• Non-renewable
• Renewable

By End-User

• Private
• Government

By Technology

• Thermal
• Hydroelectric
• Renewables
• Nuclear

By Geography

• Romania

Application Insights

The non-renewable segment continues to dominate the market, driven by Romania’s reliance on coal, oil, and natural gas. In 2023, non-renewable energy accounted for over 70% of the country’s total primary energy supply. Most fossil fuel-based energy generation facilities, including 98% of coal and 73% of fossil gas units, are state-owned under the Romanian Ministry of Economy, Energy, and Business.

Despite this dominance, renewable energy projects, sustainable energy solutions, and energy storage technologies are gaining traction due to the government’s focus on carbon emissions reduction and clean energy adoption.

Market Dynamics

Drivers

• Growing investments in solar power projects
  • Renewable energy accounts for 28% of Romania's total installed capacity of 20.61 GW.
  • Solar energy capacity is projected to increase from 1.39 GW in 2020 to 4.25 GW by 2030.
  • Grid modernization investments focus on power plant optimization, power distribution, and energy storage.

Trends

• Declining GHG emissions
  • Romania reduced emissions faster than the EU average between 2005 and 2020.
  • Adoption of National Energy and Climate Plans (NECPs) for 2021-2030 aligns with EU climate goals.
  • Investments are increasing in wind, solar, hydro, and biomass energy projects.

Challenges

• Phasing out fossil fuels
  • The Romanian government aims to completely phase out coal-fired power plants by 2030.
  • Project costs fluctuate due to rising demand for energy efficiency and new renewable energy installations.
  • The transition to renewables requires significant grid modernization and infrastructure investments.

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Key Players

• Calik Holding
• E.ON SE
• Enel Spa
• Intec Energy Solutions
• JinkoSolar Holding Co. Ltd.
• Kohler Co.
• Mytilineos S.A.
• Romelectro S.A.
• SC Electro-Alfa International srl
• Siemens AG
• SOLEK HOLDING SE
• TELENERGIA Europe S.R.L.
• Trina Solar Co. Ltd.
• WTS Energy Co.
• Zhejiang CHINT Electrics Co. Ltd.

Future Market Insights

The Romania Power EPC market is poised for continued growth, driven by investments in renewable energy capacity, energy efficiency, and grid modernization. The government's push for carbon neutrality and energy transition policies will further accelerate the adoption of solar, wind, and hydroelectric power solutions.