Romania moves down one position in EY’s Renewable energy country attractiveness index
Source: Kongsky

Romania falls to the 32ndposition in the EY’s report on the attractiveness of investment destinations in terms of renewable energy projects, after being ranked the 31st in the report related to the previous quarter.

“This decrease occurs as a result of the effort of the Romanian authorities to reconcile the positions of power consumers affected by costs arising from the support scheme, investors who commissioned assets of more than 6 billion euro and electric grid operators who have to face penetration of uncontrollable production capacity which shifted the center of gravity of production within the country and increased electricity losses”, explained Valeriu Binig, Energy Industry Leader, EY Romania.

The new edition of the Renewable energy country attractiveness index (RECAI) marks a significant change globally: China has become the most attractive country worldwide, surpassing the US and returning to the leading position last time occupied in May 2013. Hence, the US, as well as Europe continue losing ground to emerging markets. India jumped to the sixth position on the government’s efforts to accelerate public investments in the green energy sector, while Brazil, Chile, Kenya and South Africa advanced to higher positions. Also, the Netherlands and Israel improved their rankings following major funding provided to renewable energy projects.

On the other hand, apart from Germany and Japan which maintained the three and four positions, respectively, Australia, Italy, Spain and the United Kingdom see a declining trend as regards their attractiveness for green energy investments.

“The significant changes within the index confirm that the renewable energy prospects are no longer related only to several mature markets – they have become truly global, providing opportunities for both developed and emerging markets. Such a framework will compel companies and governments to review their energy-related strategies to achieve long-term competitive advantages”, reads a press release from EY.

The RECAI report has been released on a quarterly basis since 2003 and ranks countries on the attractiveness of their renewable energy investment and deployment opportunities, based on a number of macro, energy market and technology-specific indicators. It includes 40 countries worldwide, such as: Australia, Austria, Belgium, Brazil, Canada, Chile, China, Denmark, Finland, France, Germany, Greece, India, Indonesia, Ireland, Israel, Italy, Japan, Kenya, Mexico, Morocco, the Netherlands, Norway, Peru, Poland, Portugal, Romania, Russia, Saudi Arabia, South Africa, South Korea, Spain, Sweden, Taiwan, Thailand, Turkey, Ukraine, the UK, and the US.

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