Winning Grid Access: What Romania’s Capacity Auction System Means for Developers and Investors
Discover Romania’s capacity auction system and its impact on energy developers and investors.
A structural shift is under way in Romania’s electricity market, and it is easy to overlook if one looks only at capacity growth and auction headlines.
On the one hand, Romania is expanding renewable energy at a record pace through its CfD auctions, attracting billions of euros of institutional capital and positioning itself as a regional leader in solar and wind development. On the other hand, it is in parallel restricting access to the resource that ultimately determines whether these projects can be built: the grid.
And from 2026, that access will no longer be administrative. It will be competitive.
A system change years in the making
Romania’s move to an auction system for grid access is not an isolated reform but the result of regulatory changes introduced between 2024 and 2025.
In August 2024, ANRE (Romanian Energy Regulatory Authority) set the direction through Order No. 53/2024, announcing that grid capacity allocation would move from a “first come, first served” model to an auction-based mechanism from 2026.
By December 2025, this framework had been consolidated through ANRE Order No. 79/2025, which amended the original methodology and confirmed that:
-
Grid capacity for projects of ≥5 MW will be allocated through competitive auctions
-
The system will apply to new generation capacity, storage and extensions
-
A clear timetable has been set for the first auction cycle Order 79 introduced the following milestones for the first auctions:
-
30 June 2026: Transelectrica publishes the available capacity
-
14 July 2026: submission of applications
-
20 July 2026: distribution operators forward the applications to the TSO
-
24 July 2026: the list of eligible applications is finalised
-
23 October 2026: publication of the results of the global study and of the auction parameters
-
30 October 2026: daily bidding sessions begin This is not a minor policy adjustment. It is a complete reconfiguration of how projects enter the Romanian energy system.
Why the old model failed
Under the previous framework, grid access was granted on a “first come, first served” basis.
In theory, this ensured fairness. In practice, it created well-documented inefficiencies:
- Speculative projects blocked capacity without being built
- Connection queues became congested
- System operators struggled to plan investment Romania experienced all of these problems.
As renewable development accelerated, the gap between planned projects and the capacity actually available on the grid became increasingly evident.
The first two CfD auctions together allocated 4.2 GW, exceeding the national target of 3.5 GW. A third auction, completed in December 2025, awarded around 316 MW of wind.
The size of this pipeline makes grid access the central limiting factor of the energy transition.
How the new grid auction system works
The new model introduces fundamental changes in developer behaviour.
1. Mandatory auctions for large projects
From 2026, all projects of ≥5 MW must secure grid access through auctions.
2. A clear, centralised timetable
Auctions are held annually, depending on the level of demand:
- If demand exceeds supply, the TSO selects the winners
- Rejected projects can reapply the following year
- Where demand is high, future capacity can be brought forward
3. Strict financial guarantees
Developers must provide:
- participation guarantees
- performance guarantees
- payments within strict deadlines Failure to comply results in the loss of the capacity and the guarantees.
4. Long-term allocation
Capacity is granted for periods of around 10 years, with an N+2 structure, allowing alignment with infrastructure development.
Market context: a rapidly maturing sector
The reform is taking place against a backdrop of accelerated growth:
- Total renewable capacity: 14.6 GW
- Solar: ~5 GW
- Wind: ~3 GW
- Hydro: ~6.6 GW The solar sector added around 1.7 GW in 2024.
At the same time, competition in the CfD auctions has intensified:
- Prices between EUR 35.5 and EUR 45.2/MWh
- Average: EUR 40.46/MWh Transelectrica estimates that an additional 12 GW will be installed by 2031.
In this context, the grid is becoming not just a regulatory matter but the system’s main physical bottleneck.
Who wins
Well-capitalised developers
- Easier access to guarantees
- Ability to compete effectively
Advanced projects
- Permits obtained
- Land secured
- Financing under way These have an advantage because the system favours projects that are ready for execution.
Hybrid projects (with storage)
- Contribute to grid stability
- Are more attractive to operators
Who loses
Speculative projects
The model based on reserving capacity early becomes unviable.
Small developers
- Higher costs
- Strict financial requirements
Projects in transition
The new rules have effectively closed the transition period, and all new projects go straight into the auction system.
What it means for project timelines
Greater complexity up front
- Preparing bids
- Aligning with fixed timetables
→ the development phase becomes longer
Greater certainty later on
Once capacity has been secured:
- access is contractually guaranteed
- the risk of delays falls
Risk of misalignment with the CfD
Two parallel systems:
- CfD (revenue)
- grid auctions (access) Misalignment can lead to delays and financing problems.
Momentum Energy’s View
The new system does not limit growth; it marks the shift from expansion to optimisation.
The old model generated pipelines.
The new model ensures that these pipelines become real, built capacity.
For investors and developers:
- grid access has to be earned
- project value depends on connection
- capital, timing and execution become decisive Romania remains one of the most attractive markets in Europe.
But as the market matures, having a project is no longer enough.
What really makes the difference is grid access.
Sources and references
Organisations and documents cited in this article.
