Alexandru Chiriță, CEO, Electrica
For 2026, the Electrica Group is focusing its growth on the distribution network: multi-year modernization, accelerated digitization, greater connection capacity, and local storage, complemented by investments in renewables. “We are targeting 1 GW of installed capacity from green sources and 900 MWh of storage by 2030. Today, we have 307.5 MW in operation or in advanced stages and 1,169.5 MWh of storage under development,” says Alexandru Chiriță, CEO of Electrica, in an interview with Energynomics.
What were the main performance indicators and what were the main investments pursued in 2025? What are the company’s main investments and projects for 2026 and in the medium term?
In 2025, we mainly pursued three essential indicators: EBITDA, operating cash flow and the level of investments in the infrastructure we manage. We maintained strict financial discipline, with careful cost control and a balanced capital structure, in conditions of market volatility. CAPEX directed towards the distribution infrastructure exceeded 150 million euros, focused on the modernization of stations, network automation and the integration of new renewable capacities. We focused on stability in supply and the reduction of technological losses.
For 2026 and in the medium term, the priority remains increasing value through the distribution service. The investment budget for the coming years includes a multi-year program to modernize the grid, with accelerated digitalization, expansion of connection capacities and implementation of storage solutions at local level. Of course, investments in renewables and storage complement this direction.
What are your plans for 2026 and the medium and long term in the field of green energy? You recently said that you would reach 1 GW, what are the projects you currently want to acquire and what have been the successes so far?
Indeed, our objective is to reach the threshold of 1 GW of installed capacity from renewable sources and 900 MWh of storage capacity by 2030, through a balanced model, acquisitions of mature projects and our own development. We do not only pursue volume, but also the quality of the portfolio and the return on invested capital.
To date, we have 307.5 MW of green projects operational or in advanced stages of development, in the wind and photovoltaic areas. To this is added 1,169.5 MWh of storage capacity in various development phases. The integration of storage is part of the standard architecture of new investments, as it optimizes the production profile and reduces exposure to imbalances. Our portfolio includes operational assets, projects in advanced stages of development and greenfield initiatives, built on a logic of yield and investment discipline. Storage is not a complementary element, but an essential component for system stability and for protecting margins in an environment characterized by volatility.
In the medium term, the development of renewables is not only a growth direction, but a pillar of energy security. Romania needs new capacities, and Electrica has the financial strength and operational expertise to contribute significantly to this objective.
What was the most challenging moment of your mandate within the Electrica Group?
Probably the most difficult moment of the mandate was the period of legislative uncertainty and extreme pressure on the supply segment, in the context of capping schemes and delays in settlement mechanisms. It was a test of leadership and strategic decision-making, at a time when liquidity and operational stability were under pressure.
We consolidated operational stability through closer cost control and a more efficient use of resources, in parallel with accelerating investments in networks. In parallel, we accelerated investments in distribution, because the sustainable value of the Electrica Group is built through regulated infrastructure and stable assets.
That period confirmed that speed of decision-making and strategic coherence make the difference. Electrica went through a difficult context without major slippages, with a solid structure and a coherent long-term strategy.
What is the growth rate of the prosumer segment (2025 vs 2024)? What are your estimates for this segment, for 2026?
As of December 31, 2025, 119,850 prosumers were connected to our networks, compared to 76,030 at the end of 2024. The growth is approximately 58% in a single year. It is one of the fastest dynamics in the region and puts direct pressure on the distribution infrastructure.
For 2026, we estimate that the high pace will be maintained, even if not at the same percentage level. The integration of these capacities requires additional investments in transformers, automation and monitoring equipment. The network must be adapted for bidirectional flows and for the management of production variations.
From a strategic perspective, prosumers do not represent just a market phenomenon, but a structural change in the energy system. Our role is to ensure their integration in safe and efficient conditions, without affecting the stability of the supply for the rest of the consumers.
What are the main investments needed in the network to cope with the new wave of renewables?
The integration of new renewable capacities requires the modernization of transformer stations, the increase of the capacity of medium and low voltage lines and the implementation of advanced automation systems. Investments are focused on digitalization, smart equipment and additional connection capacity.
An essential element is distributed storage and grid flexibility. Without these components, the massive integration of renewables would generate congestion and additional costs. In the coming years, we are allocating significant amounts to increasing the resilience of the infrastructure and reducing the duration of outages.
Our vision is simple, without a modern grid there is no sustainable energy transition. Distribution remains the backbone of the system, and investments in infrastructure are investments in Romania’s energy security.
How have the SAIDI and SAIFI grid quality indicators evolved in the last year?
Our operator, Distribuție Energie Electrică Romania (DEER), recorded an improvement in continuity indicators last year. Total SAIDI, which includes planned and unplanned outages, decreased to 220 minutes per year, compared to 223 minutes in 2024. Total SAIFI decreased to 1.88 outages per year, compared to 2.17 in 2024.
The reduction in SAIFI by almost 13% shows the effectiveness of investments in automation and rapid interventions. These results are not accidental, but the consequence of a sustained modernization and maintenance program.
Service quality is a direct indicator of operational performance. Our objective is to continue the decrease of these values, with a constant focus on reliability and consumer experience.
How do you see the evolution of the energy market and the economy in general in 2026?
The year 2026 brings a complex macroeconomic context, with pressure on the cost of capital, volatility in energy markets and an adjusting regulatory framework. Access to financing will remain a critical factor, and investment strategy will make the difference between companies that grow and those that stagnate.
The energy market will continue to be marked by transition, the increase in the share of renewables, pressure on balancing and high need for infrastructure investments. In this context, operators that hold solid regulated assets and diversified portfolios will have a competitive advantage.
For the Electrica Group, 2026 is the year in which we consolidate the operational base and accelerate growth within a rigorous capital allocation framework. We continue sustained investments in the network, support the integration of green projects under development and storage capacities, and advance towards the previously mentioned strategic objectives. In parallel, we maintain supply stability and cost control, in a volatile market context. Our direction remains oriented towards sustainable growth, return on capital and strengthening energy security.
