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Challenges and opportunities – the words characterizing the Romanian energy sector

30 March 2024

Romania has embarked on the path of energy transition and is expected to benefit from multiple investments worth billions of euros in energy efficiency and renewable energies. However, consumers should not be overlooked. These were the silver lines of most commentaries made at the “Spring Cocktail 2024” event organised by Energynomics, when the latest edition of the Energynomics Magazine was launched.

Varinia Radu, Founder and CEO of Energynomics, shed light on the transformative trends shaping the industry landscape. Looking ahead to 2030, Radu emphasized the profound shifts anticipated in transportation and energy consumption patterns. With electric vehicles projected to increase tenfold on global roads and renewables accounting for half of the global power mix, the energy sector is undergoing a seismic transformation. (SEE THE VIDEO!)

She highlighted the significant investment flowing into offshore wind projects, surpassing that allocated to gas-fired power plants. Also, Contract for Difference (CfD) mechanisms are poised to catalyze investment in 5 GW of renewable energy capacity, further propelling Romania’s transition towards a greener energy landscape.

Victoria Zinchuk, EBRD Director for Romania, added that the successful implementation of CfDs would not have been possible without the strong involvement of the Ministry of Energy. In addition, just a week ago, EBRD approved three new projects for financing in renewables, distribution, and e-mobility, totaling an investment of 250 million euros. (SEE THE VIDEO!)

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George Niculescu, President of ANRE, stated that the main challenges the regulatory body is facing in the next five years will have a significant impact on the distribution business and the Transmission System Operator (TSO). ANRE will need to strike a balance between the necessity of investments in the energy grid to facilitate the development of more renewables and ensuring affordability for consumers.(SEE THE VIDEO!)

According to Dan Drăgan, State Secretary in the Romanian Ministry of Energy, the government’s priority is to enhance competitiveness in the electricity market and therefore, all the regulatory and investment efforts are directed towards this goal. (SEE THE  VIDEO!)

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Răzvan Popescu, CEO of Romgaz, stated that the Neptune Deep project is proceeding as planned and the company’s goal is to complete in 2024 the Iernut gas-fired power plant, which will add 450 MW to the market and contribute to balancing the renewable energy sources. Additionally, Romgaz is committed to decarbonizing its business and is investing in photovoltaic projects. Furthermore, the company aims to acquire several wind and solar projects. (SEE THE VIDEO!)

For the 11th year in a row, Energynomics organized Spring Cocktail, an original concept event dedicated to the exchange of ideas on the Romanian energy industry. This year’s edition benefited from the support of our partners: BCR, E.On, Electrica Furnizare, Huawei, OMV Petrom, Renomia, Romgaz, WALDEVAR Energy.

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