Romania has been losing attractiveness for investments in renewable energy projects due to the legislation changes.

This year, Romania dropped out of the top 40 most attractive countries for investments in green energy after ranking 34th last year, according to the EY Renewable Energy Country Attractiveness Index (RECAI).

In the top 10, France went up one position to 7th place, following its decision to acquire 3 GW solar panels in the next three years. The country is also building a plant for producing solar panels that can cover 1,000 km of roads.

Valeriu Binig, Transaction Advisory Partner with EY Romania, said that the “drastic correction of the support scheme for electricity produced from renewable sources” and the uncertainty about the scheme’s prospects made Romania less attractive for investors in this field.

Several owners of wind and solar parks are trying to sell them, whereas potential buyers are offering “unacceptable” prices, Binig added. Investors in the renewable energy sector have posted big losses in Romania in recent years.

editor@romania-insider.com