BUSINESS

New energy industry strategy: Sector needs investments of EUR 100 bln by 2035

The investments needed by the Romanian energy sector for the 2015-2035 period total approximately EUR 100 bln, according to the National Energy Strategy (SEN) for the 2015-2035 period, a document launched by the Energy Department last week.

“In order to attract new investments in the energy sector, Romania has to ensure the existence of a stable, predictable and transparent market, through public strategies and policies and by removing 80 potential obstacles in the path of investors. We consider that the investments needed by the Romanian energy sector in 2015-2035 total approximately EUR 100 bln. This context makes it necessary to develop priority policies of stimulating investments in the energy domain, policies that could ease the implementation of specific measures. The transforming of the energy sector has to be supported through significant investments in the following decade, mainly in energy efficiency, new energy production capacities, transport and distribution, as well as in the technological upgrading of existing ones. The implementation of these investments has to be appropriately tackled by state authorities and Romanian energy companies,” the document points out.

According to the aforementioned source, the necessary or strategic investment goals considered are the development of Unit 3 and Unit 4 of the Cernavoda nuclear power plant (currently in negotiation with China General Nuclear Power Corporation), the development of the Tarnita-Lapustesti hydropower plant, the development of smart metering and smart grid infrastructure, the development or expansion of interconnection capacities and the easing of export/import in order to capitalize on the higher price of electricity on other markets.

Moreover, also considered is the exploitation of natural gas deposits in the Black Sea, making investments in order to fall in line with the European Union’s environment requirements, and the modernization of coal-burning power plants.

On Friday evening the Energy Department launched a new public debate on the National Energy Strategy for the 2015-2035 period. Romania currently has a National Energy Strategy adopted in 2007, one that will expire in 2020.

 

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