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March 17, 2023

Cristian Colteanu, General Electric: Romania doesn’t need any new power generation capacities

Romania currently does not need any new power generation capacities, as consumption is less than production, and the electricity surplus is exported, president and CEO for Romania, Bulgaria & Moldova of American group General Electric Cristian Colteanu said on Wednesday.

‘Romania currently does not need any new power generation capacities, given that consumption is less than we produce, and the electricity surplus is exported. Instead, we must turn consumption as efficient and responsible as possible,’ said Colteanu.

He added that General Electric is getting involved in the development of Romania’s new energy strategy, both directly and through the Romanian-American Chamber of Commerce.

‘We need a long-term energy strategy to allow Romania to contribute to energy security, enable the modernization of infrastructure, Romania’s integration with the European market and interconnections with neighboring countries. I am convinced that things are getting settled, that the government is working to complete this strategy. Yet this is a lengthy process and I don’t know if the government will finalize the strategy until this autumn,’ Colteanu said.

He considers that from the tax perspective, Romania has robust potential for investment.

‘It is important that multinationals and large corporations have a favorable environment to grow in, but it is equally important that the SMEs are successful. Romania has growth potential, there are resources and human capital as well. Romania has the potential for sustainable economic growth, which results from the need to modernize the infrastructure and the gap that separates the old EU members and the newer entrants, which must go through the modernization process to reach the same level as the other EU members,’ Colteanu explained.

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