ECITIM: we estimate the doubling of installed power in photovoltaic parks in Romania in 2024, to over 4 GW

The installation of solar panels is expected to speed up in the coming period, with Romania potentially exceeding 4,000 MW of installed power in photovoltaic parks next year, according to an analysis by ECITIM, a Romanian start-up in the energy sector and the first company in Romania that has enabled ordinary Romanians, through the EnergiePentruToti.ro platform, to own energy production capacities in photovoltaic parks.

This means a doubling compared to the currently installed national power. In 2023, solar panels with a power of over 1,000 MW were installed, totaling investments of approximately 1 billion euros. A significant contribution to this amount came from the state, through the Casa Verde program.

„Next year, Romania could have an installed power of 2,000 new MW just from photovoltaic panels, almost as much as three nuclear reactors at Cernavodă. The pace of development and investment in this field is accelerating, as our country is in an early stage. For comparison, Romania is expected to reach 4 GW of installed power in photovoltaic panels in 2024, while Germany has already reached approximately 70 GW. It’s little by comparison, but it shows the huge potential for development in this field in Romania”, says Stelian Muscalu, development director at ECITIM.

Major energy-producing companies, investment funds, and photovoltaic park developers will be the main investors in Romania’s solar energy industry. The sector will experience significant growth, due to the sustainability policy and climate commitments of the European Union targeting a strategic transition towards more ecological energy sources, in line with climate objectives and carbon emission reduction.

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ECITIM: we aim to become an energy producer in the first quarter of 2024

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In this context, individuals have also shown great interest in this sector, with over 600 partners and investors (individuals and legal entities) buying installed power in photovoltaic parks this year, through the EnergiePentruToti.ro portal, the only platform in Romania offering all Romanians the opportunity to participate with their own capital in transforming the national energy system.

ECITIM completed this year 13 photovoltaic parks, with a combined installed power exceeding 6 MW (22,400 installed panels), thus placing the ECITIM project in the top of the largest collective investments in the field of energy in Romania – over 6 million euros.

By the end of the year, ECITIM estimates the completion of the 14th photovoltaic park, which will be proposed for sale to partners after being connected to the network, fully functional and not in a project stage as were previously completed projects.

All investments and partnerships were made through the EnergiePentruToti.ro platform, which facilitates collaboration between different entities for building photovoltaic parks, allowing both individuals and legal entities to own shares in ECITIM projects.

The ECITIM company, through the EnergiePentruToti.ro platform, offers end-to-end management for solar energy investments, ensuring transparency and flexibility with clear contract details. It simplifies the acquisition of energy packages, ensures easy payments and legal compliance. Users benefit from real-time production monitoring, extended warranties, and transparent earnings, with a clear calculation of revenue. The options for termination or sale, alongside aligned interests where the company thrives only if the system produces energy, underline ECITIM’s commitment to maximizing profitability and minimizing risks for partners.

For 2024, the company’s plans include obtaining producer status, with efforts to obtain the license already underway. Also, ECITIM’s development strategy considers adding another 8 photovoltaic parks to its portfolio, allowing for expanded production capacity and offerings, while consolidating its market position.