Renewable power in Eastern Europe: Growth potential over the next decade

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The opportunity for renewable investment is increasing in Eastern Europe:

  • Apart from Poland, these markets met their 2020 renewable energy targets ahead of schedule. However, the gap with the new 2030 renewable energy target is significant. The 2030 target is driving new energy in the renewable space.
  • A few markets have come forward with auction plans, placing them on the map for renewable opportunity and capacity growth.
  • Solar is viewed as the main technology to meet the 2030 target. Little focus is placed on onshore wind. Offshore wind is set to grow in the markets along the Baltic Sea.
  • Approximately 8.3 GW of capacity is expected to be auctioned by Eastern European countries in the next 18 months, with Poland the single largest constituent with almost 6.5 GW.
  • For many Eastern European markets, IHS Markit expects higher renewable capacity deployment than national targets as a result of government incentives.
  • This report highlights the potential for renewables in Bulgaria, Croatia, Hungary, Poland, and Romania. These countries have been identified as having the most potential for growth in Eastern Europe.

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