With the decline of the volumes exploited by the Netherlands, and the authorities and the private sector must work together to take advantage of the unprecedented opportunity that has been created with the resettlement of energy priorities.
“We have to make sure that the rest of Europe understands that Romania can play an essential role on the continent in these complicated times, when all countries are looking for gas sources. In order to achieve this result, we must all work together to ensure that it will happen.” The statement was made by Eric Stab, president and CEO of Engie Romania, at the ZF Power Summit 2023 conference.
The Ministry of Energy showed confidence in Romania’s position, and the Secretary of State George-Sergiu Niculescu believes that both the public and private sectors have a historic opportunity in front of them, based also on the amount of funds available through PNRR and through The Modernization Fund.
“The certain amounts that will go into the projects are: 457 million euros from PNRR, 475 million euros from contracts signed by the ministry with Transelectrica and, in addition, 550 million euros will come from the Modernization Fund, through the self-consumption scheme, from the one for self-consumption for commercial companies, another 500 million euros, and from the one for energy production from renewable sources for commercial companies, also 500 million euros”, explained the state secretary.
While both the investors and the authorities discuss the investment appetite and the hundreds or thousands of megawatts that are being prepared for the local energy system, the operator Transelectrica found that many of the investment plans never get past the project stage. “Everyone says they want to invest, but in reality they don’t settle. In wind power Romania has a capacity of 13,014 MW for over two years, nothing has been installed in wind power. In photovoltaics, we started last year with 1,357 MW, we reached 1,390 MW and now we have a little more than the capacity of nuclear, i.e. 1,419 MW”, emphasized Gabriel Andronache, the general director of Transelectrica.
Romania’s potential can also be seen from Brussels, and Europe hopes that it will be exploited by the end of the decade, in a context where the energy transition and the move away from Russian fuels create new needs and new markets.
“At the end of this decade, it would be good for Romania to be no longer just a country of potential, but a country with capitalized potential. I think it is very possible for this to happen if the investments that have been proposed so far are actually started, bearing in mind that they are not yet sufficient. The private sector must also be attracted and a framework must be created to allow it to invest alongside public funds“, explained Tudor Constantinescu, senior advisor to the director general for energy within the European Commission.