WALDEVAR Energy – Powering Romania’s renewable future with exceptional turnover growth in 2024

The renewable energy sector in Romania is at a pivotal crossroads. While projections for early 2024 indicate the country will reach an installed photovoltaic capacity of 4 GW, Germany has already exceeded 70 GW. This stark contrast highlights both the challenges and opportunities in the Romanian market. WALDEVAR Energy, a leading EPC (Engineering, Procurement & Construction) contractor, views this as an opportunity to drive significant growth. With 800 MWp of installed capacity already contracted and constructed, the company is well-positioned as a market leader in renewable energy development.

Exceptional growth and strategic milestones

WALDEVAR Energy’s recent financial performance highlights its rapid ascent. By August 2024, the company reported a turnover of €25.7 million, a dramatic increase from €10.1 million during the same period in 2023. Forecasts suggest that the company will surpass €45 million by year-end, supported by three major projects nearing completion. These milestones form part of a broader strategic objective to achieve €100 million in revenue by 2025.

These achievements were further validated by the award received at the SME Gala, where the company was honored with the prize for the fastest and most remarkable growth in the energy sector in 2024.

With comprehensive in-house capabilities that include design, procurement, construction, and maintenance, WALDEVAR Energy is equipped to deliver turnkey solutions for large-scale photovoltaic projects. The steady influx of client inquiries signals confidence in the company’s ability to sustain this growth trajectory.

Investing in innovation and expansion

Innovation and diversification remain at the forefront of WALDEVAR Energy’s strategy. One of its most ambitious initiatives involves establishing Europe’s largest factory for floating photovoltaic systems. Managed by its newly launched WALDEVAR Floating PV division, this state-of-the-art facility in Tunari, Ilfov, will offer integrated solutions for renewable energy projects on water. This investment aligns with the company’s commitment to broadening its portfolio and addressing the evolving needs of its clients.

In addition, WALDEVAR Energy has prioritized the development of complementary divisions to its core EPC business. The company is advancing its battery energy storage systems (BESS) division, addressing the increasing demand for energy storage solutions. Its fully operational Operation & Maintenance (O&M) division ensures that photovoltaic parks remain optimized and profitable long after their initial deployment.

The people behind the progress

At the core of WALDEVAR Energy’s success is its workforce. With 850 employees, the company boasts the largest team in Romania’s renewable energy sector. Recognizing the importance of continuous development, WALDEVAR Energy has implemented robust training programs, including a pilot project in Timișoara that focuses on qualifying heavy machinery operators and other specialized roles.Engineers and management staff regularly participate in industry-specific workshops and training sessions to stay ahead of technological advancements. These initiatives reflect the company’s commitment to maintaining a highly skilled and adaptive workforce.

Navigating challenges, seizing opportunities

Like many companies in the sector, WALDEVAR Energy faces challenges such as unpredictable weather conditions and supply chain disruptions, particularly in sourcing power transformers. However, stabilization in the availability of raw materials for photovoltaic panels and inverters has alleviated some pressure, enabling the company to focus on scaling up its projects.

With Romania set to experience a surge in renewable energy construction by 2025–2026, WALDEVAR Energy is preparing to play a pivotal role. Investment funds, independent power producers (IPPs), and energy-intensive companies increasingly turn to WALDEVAR Energy for its integrated solutions. Armed with a dedicated team, a vast fleet of specialized equipment, and a proven track record of nearly 800 MWp constructed across Romania and Europe, the company is committed to delivering the highest standards in renewable energy development.

Through strategic positioning and a steadfast focus on quality, WALDEVAR Energy continues to lead the way in building the energy systems of the future.