Transcript
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RES IN ROMANIA;RENEWABLE ENERGY LAWPROCEDURES & INCENTIVES
Ciprian GlodeanuWolf Theiss
Bucharest, 17 November 2011
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TOC
1. Romania RES WIND overview
2. Up and running projects
3. Mandatory quota of RES
4. Support schemes
5. Relevant legislation
6. Promotion System for the Production of RES-Electricity
7. Pricing for the trade of Green Certificates
8. Price of energy
9. Local Permitting
10. Regulatory Framework
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ROMNARE
OREW
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Romanian Energy System
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ROMANIA RES-WINDPotential for wind in Romania The WIND map of Romania
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ROMANIA TOP 20 WIND PROJECTSNo. Company Capacity (MW) Location County Investment
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UP AND RUNNING PROJECTS FANTANELE AND COGEALAC, CONSTANTA
The largest project in Romania is Czech energy group CEZs wind farms in the villages of Fantanele and Cogealac inConstanta county, with turbines supplied by GE. The 1.1 billion Euro wind energy project, reportedly the largest on-shoreproject in Europe, aims to have a 600 MW total installed power capacity. In Fantanele, CEZ has raised around 120 turbinesand has an installed power of 300 MW. The firm will install around 19 more turbines for a further 47 MW in 2011.
PESTERA AND CERNAVODA, CONSTANTAPortuguese renewable energy company EDP Renovaveis (EDPR) is using 76 Vestas wind generators, each with an installedcapacity of 3.0 MW, for this Dobrogean park. The project in Pestera [90 MW] and 69 MW of the Cernavoda project are nowconnected. The second half of Cernavoda [a further 69 MW] was due to be connected by June 2011. The company also has
613 MW of power at different stages of development. EDPR aims to construct wind farms in Sarichioi (33MW) in Tulcea Countyand Vutcani (24 MW) in Vaslui County.
AGIGHIOL AND SALBATICA, VALEA NUCARILOR, TULCEAItalian energy giant Enels renewable energy company Enel Green Power has opened a 34 MW wind farm in Agighiol and a 30MW farm in Salbatica, using 2 MW Gamesa wind turbines. The company hopes to install a further 40 MW by the end of 2011.Enel in 2009 bought local developer Blue Line, making the first step towards developing wind projects of a total installed powercapacity of 244 MW.
SILISTEA 1, CONSTANTARomanian company Romconstruct Top has developed the wind park Silistea 1, Constanta county using GE turbines. Silistea 1has an installed capacity of 25 MW.
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SUPPORT SCHEMES Feed-in tariff
Green Certificate
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Promotion System for the Production ofRES-Electricity
for each 1MWh delivered in the electricity grid (biomass, biogas, gas of waste
fermentation and geothermal energy), the producers of electricity through high
efficiency cogeneration plants will supplementary benefit of one (1) GC
for each 1MWh produced and delivered in the trial period the producers benefit
from one (1) GC, regardless the type of electric plant which produces RES-E
Projects must be completed by December 2016
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Pricing for the trade of Green Certificates Trading period increased from 2008 through 2025
Minimum trading value of EUR 27 per CG
Maximum trading value of EUR 55 per CG
Starting with 2011 trading value indexed with Euro zone inflation rate recorded inDecember of the previous year by the National Energy Regulatory Agency
Failure to fulfill the annual quota obligations - an equivalent value of those GCs
which were not purchased at a premium of EUR 110 for each un-purchased
certificate
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MANDATORY QUOTA
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PRICE OF ENERGY October 2011: an average Peak price of EUR 65.46 / MW
Off peak price of EUR 37.23 / MW
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Source: opcom.ro
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LOCAL PERMITTING
List of Permits (hand-out)
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RGAO
FRMWO
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REGULATORY FRAMEWORK Outline of permitting procedures for RES-Electricity generating facilities
Building permit (environmental authorization/approval)
Access to the grid technical permit / Connection Agreement
Setting up authorization (ANRE) Production License (ANRE)
Registration with the Romanian Transmission and System operator
Transelectrica (GCs)
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REGULATORY FRAMEWORK
Who issues the building permit?
How long it takes to obtain the building permit?
Which are the required documents?
Are there any tax to be paid for obtaining the building permit?
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REGULATORY FRAMEWORK Energy Law (13/2007)
regulatory authority ANRE
Setting up authorisation
Production licence
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REGULATORY FRAMEWORK License to generate RES-Electricity - outline
ANRE authorizations for:
construction/refurbishment of electricity and thermal power
co-generation plants construction/refurbishment of electricity lines and transmission stations;
and
construction/refurbishment of electricity lines and supply stations with an
installed power exceeding 110KV
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REGULATORY FRAMEWORK License to generate RES-Electricity - outline
Licenses are issued by ANRE to carry out the following:
commercial exploitation of electric and thermal co-generated production
capacity
electricity transmission services electricity system services
electricity distribution systems
act as an electricity market operator; and
electricity supply activity
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REGULATORY FRAMEWORK Setting up authorisation procedure:
the applicant files the standard application together with the relevant
documentation
within fifteen (15) days from the submission of documents, ANRE may
require additional information
the drafting of a report by ANRE either granting or rejecting theestablishment authorization and submitting this report to the regulatory
committee of ANRE
the regulatory committee of ANRE decides by a majority vote whether to
grant or reject the establishment authorization; and
communicating the committee's decision to the applicant within five (5)
business days from such decision being issued
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REGULATORY FRAMEWORK Additional documents required by ANRE:
the organizational chart of the company
files regarding the employees which evidence their professional skills;
and
organization and functioning regulation
Validity:A maximum of twenty-five (25) years for commercial operation of
electricity generating capacity and electricity distribution activities and
a maximum of ten (10) years for electricity supply activity
Charges on an annual basis:
0.035% of the turnover generated by the owner for the previous year; or a minimum of approximate EUR 265, if the percentage applied to the
turnover is lower than such minimum
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REGULATORY FRAMEWORK Access to the electric grid for RES-E producers which benefit from GCs:
Guaranteed access to the electric grid for RES-E producers which
qualify and participate to the GC support scheme
Order no. 42/2011 of ANRE provides the legal framework for the
accreditation procedure
Before entering the GCs market, all participants (i.e. producers of RES-
Electricity and suppliers) must:
register with the GCs market
enter into a so-calledparticipation agreement
with OPCOM; and
register such participation agreement with the GCs Register
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REGULATORY FRAMEWORK General trading terms for the Green Certificates:
GCs on two different trading platforms:
on the centralized green certificates market and
on the green certificates bilateral contracts market
regulated and supervised by OPCOM
a GC, during its validity period, can be subject to successive
transactions
GCs value are determined, within the mandatory limits, by market
mechanisms
transfer of GCs from the account of the seller to the buyers account is
performed by OPCOM only after payment confirmation.
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REGULATORY FRAMEWORK Monitoring, reporting and enforcement of the Green Certificates system
Order no. 44/2011 of ANRE
monitoring is done by a special department of ANRE on the basis of the
information provided by producers of RES-Electricity, suppliers, OPCOM
and the TSO
GCs may be traded only on the trading platforms
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REGULATORY FRAMEWORK General issuing terms for Green Certificates
- transport and system operator Transelectrica is issuing the GCs for the
accredited RES-E producers
- in order to obtain the GCs, the RES-E producers have to register with
Transelectrica
- Transelectrica issues each month, to the accredited RES-E producers,
GCs for the electricity produced out of which it is decreased the energy
used for own technological process
- Transelectrica shall issue the GCs in four (4) days as of the moment all
documentation has been provided by the RES-E producers
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AMENDMENTS RECENTLYINTRODUCED Overcompensation 10% over the approved IRR, for each technology*
* the indicators which ANRE is going to supervise in order to assess the possible overcompensation, extend
usually over three (3) years.
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AMENDMENTS RECENTLYINTRODUCED Guaranteed access RES-E producers which benefit from GCs after
accreditation in compliance with Order 42/2011 of ANRE
Incompatibility GCs and state aid funds reduction of the GCs number
Decrease the number of GCs from three (3) to two (2) biomass, biogas,
geothermal, biofluids
Additional permits for projects exceeding 125 MW prior to accreditation
request with ANRE, the investor must obtain approval of the GC supportscheme from the European Commission
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Answers
Questions
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THANK YOU FOR YOUR ATTENTION!
Ciprian Glodeanu
Wolf Theiss si Asociatii SCA
Attorneys-at-Law
Bucharest Corporate Center
58-60 Gheorghe Polizu Street, 13th Floor
Bucharest, Romania
Tel: +40 21 308 81 00
E-mail: ciprian.glodeanu@wolftheiss.com
www.wolftheiss.com
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The contents of this presentation are provided for informational purposes only and
are not intended to serve as legal advice and cannot substitute for legal advice or
guidance in specific cases. Any specific questions that may arise on this topic
should be reviewed with the assistance of legal counsel in order to ensure that any
given concern is properly addressed in accordance with legal requirements.
2011 Wolf Theiss si Asociatii
All Rights Reserved
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