12.5 C
March 2, 2021

Romania may invest EUR 30 bln in energy sector

Romania may invest, up to 2020, EUR 30 bln in the energy sector, the chair of the Senate’s Economic, Industry and Services Committee, Varujan Vosganian, stated, in the 2010 Energy Forum, Agerpres reports. “Large-scale companies in the energy sector invest EUR 1.5 bln annually. Each invests between EUR 80 M and 220 M, on a regular basis. If we add up the investment in the Cernavoda Reactors 3 and 4, investments into renewable energies, the Tarnita Lapustesti investment, projects in Galati, Braila, Doicesti, micro-hydropower plants on the Olt, up to 2020, Romania may invest EUR 30 bln in the energy sector,” the Romanian official stated. The main source of funding for the energy projects mentioned by Vosganian is the Bucharest Stock Exchange (BVB). The European Investment Bank (EIB) warns there is a high risk that legal provisions related to the Romanian renewable energy projects’ environmental impact may be ignored. For this reason, the bank only agreed to finance one project in this sector, that of the Fantanele wind park in Dobrogea, the economic advisor within EIB’s Renewable and Sustainable Energy Department, Eugene Howard, stated, in the 2010 Energy Forum.

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