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Romania ranks 13th among world's most attractive countries for investments in renewable energy
Romania keeps ranking 13th, the same position as last year, among the world's most attractive countries for investments in renewable energy, according to the Ernst&Young latest quarterly report named Renewable Energy Country Attractiveness Indices, sent on Tuesday.
The Ernst & Young Country Attractiveness Indices (CAI ), related to the period Dec. 2012-Feb. 2013, places Romania ahead of countries such as Poland, Turkey, Spain and Austria.
Concerning wind power sector attractiveness in the investors' preferences, Romania continues to rank 10th as in the previous report, released in Nov. 2012, after economic powers such as Germany, China, the US, Great Britain and France.
As for solar energy, Romania is ranked 24th, ahead of Poland and Bulgaria. Ernst & Young points out that this market is very active in Romania, this indicating significant growth projections in 2013 as regards the power installed in solar projects. These projections are backed by the advance of the solar projects, the smoother development process, shorter construction schedule and especially by the attractive incentive scheme as far as investments in solar energy are concerned, compared to other types of renewable energy.
EDP Renovaveis, the renewable energy division of EDP, has already started to develop in Romania solar projects with a combined power of 39 MW, expected to be completed in the first quarter of 2013. These are the first solar projects of the EDP group. In addition, RCS & RDS made two acquisitions in this sector, with the total capacity of the solar project standing at 13.7 MW.
The Ernst & Young Country Attractiveness Indices (CAI ) score 40 countries on the attractiveness of their renewable energy markets, energy infrastructure and the suitability for individual technologies. The latest report released on Tuesday reveals the growing public pressure upon the subsidies supporting the development of renewable energy projects. Moreover, the report includes an analysis of renewable energy projects, amid the popularity of the shale gas exploration projects that many players in the sector consider as having the potential to shift the investors' interest from the renewable energy.
Ernst & Young is one of the largest companies of professional services worldwide, with 167,000 employees hired in 700 offices across 140 countries and nearly 24.4 billion dollar revenues in 2012. In Romania, Ernst & Young is one of the leaders in the professional service market ever since its establishment in 1992. Its more than 500 employees in Romania and the Republic of Moldova provide integrated services of auditing, tax, assistance in transactions and business-support services to multinational and local companies. Ernst & Young has offices in Bucharest, Cluj-Napoca, Timisoara, Iasi and Chisinau.