Why is Romanian energy storage industry developing rapidly?

Romania is one of the Eastern European countries. In recent years, Romania has great potential in the field of new energy vehicles. With the global emphasis on environmental protection and sustainable development, the Romanian government is also actively promoting the development of electric vehicles, through policy support and infrastructure construction, various subsidies and tax incentives and other incentives to further promote the sales of new energy electric vehicles.

The most popular electric vehicle brands in Romania are Dacia, Toyota, Renault, Skoda, Hyundai, Volkswagen, Ford, Mercedes, Suzuki and BMW. Electric passenger car sales in Romania will grow by 1.7% annually, while light electric commercial vehicle sales will increase slightly by 0.6%.

On December 3, 2023, the Romanian government said that they had received 3 billion euros in funding from the European Union to support onshore wind and solar photovoltaic power generation facilities. They plan to develop 0.5GW photovoltaic and 1MW onshore wind power projects in 24 years, and the plan covers onshore wind and photovoltaic projects with a total capacity of 3,500 MW in 2025, and their goal is to install more than 8,000 megawatts (MW) of photovoltaic new energy power stations by 2030.

Renewable energy project developer Domeniile Salameh Renewables will develop the largest wind, solar and energy storage project in Romania to date in Constanta, with a 220 MW solar power plant and a 223 MW wind power plant.

And the European Bank for Reconstruction and Development (EBRD) together with Raiffeisen International Bank has provided 110 million euros to plan to build two new photovoltaic power plants in southeastern Romania with a total installed capacity of approximately 300 MW.

Maxwell can provide it with bidirectional and unidirectional DC/DC module solutions, and is willing to work with all countries to help accelerate the modernization of Romania's energy sector, promote energy transformation, and promote the development of green energy.