BUSINESS

Energy industry needs EUR 30 to 50 bn investments over 20 years

Romania’s energy industry needs investments of EUR 30 to 50 billion over the next 20 years, according to calculations of the Department of Energy mentioned by Minister Delegate for Energy Razvan Nicolescu at a finance and banking seminar organized by the Romanian Commercial Bank (BCR) on Friday.  “It is almost out of question for the state to be an active investor in this sector in the coming years, given the problems it has in other sectors, such as the healthcare budgets. Unfortunately, the domestic private capital is also insufficiently developed to have this financing capacity. We have, however, a huge potential in the state-owned companies in the energy industry. When I took over the office, I told Prime Minister Victor Ponta, too, that we need to increase the efficiency of state-owned companies, to make them more transparent and less corrupt,’ said Nicolescu. He reminded that Romania ranks third in Europe in terms of energy independence, behind Denmark and Estonia. ‘We intend to maintain this indicator and even better it. We want to keep the current consumption level. We have the proposal of diversifying the supply sources with ones coming from the Caspian Sea region. We see energy security as a wider concept than energy independence,’ the minister added.

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