Black Sea energy island to benefit Romania and Bulgaria

2022-11-28

The Energy Policy Group (EPG) of Bucharest believes that the construction of an artificial energy island in the Black Sea would be the most beneficial option for Romania and Bulgaria's offshore wind build-up until 2030. The proposed 3GW capacity for each country carries an estimated cost of €8.4bn, making it a financially viable solution.


As such, the concept has so far only been pursued in Northern Europe with Denmark and Belgium competing to be first to build a North Sea energy island before this decade is out.
EPG launched its study into Romania's decarbonisation last year and concluded that 15GW of Black Sea wind capacity would need to be developed to reach climate neutrality by 2050, representing over 40% of power production.
To meet this 3GW goal by 2030, they suggest a suitable offshore law be ratified and a maritime space development plan to identify the best areas for wind turbines. A partnership agreement with Bulgaria is also needed in order to reap the benefits of economies of scale.
Contracts for difference (CfDs) could help to attract investors, EPG believe. The invigoration of renewable energy sources such as wind power looks set to play an essential role in Romania's decarbonisation endeavours.