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Elena Popescu: It is time for investment and transformation

30 March 2021
Bogdan Tudorache

Romania tries to meet its targets by following the European path, which is not an easy task for a coal-oriented country, said Elena Popescu, General Director of Energy Policy, in the Ministry of Energy, at the 8th annual edition of Spring Cocktail, a concept event organized by Energynomics.

“We are trying to create the right framework for investment. The business environment is very competitive, as you know, and in order to meet all the challenges, we need to find the most appropriate ways to decarbonize, especially those fit for our energy system. The targets are the same for all member countries and we are moving in the European direction. Of course, however, each country has its specific characteristics in meeting its targets. This is not an easy task, especially for coal-oriented countries,” Elena Popescu said.

The National Energy and Climate Plan– NECP is not a perfect document, Elena Popescu admitted, “but it is hard to keep up with Brussels when it comes to legislative developments”. NECP gives Romania a clear direction of action and it will also be subject to revisions.

“We have included investment in the generation sector here, as the transformation needed to meet our European targets is related to all sectors – from production, to transport, distribution, smart grids, storage and supply of new natural gas supply through new pipelines, including hydrogen,” she said.

“Hydrogen is very fashionable and we need to keep up with all the changes.”

Elena Popescu reiterated the need for co-operation within the industry, among dialogue partners. “It is important to involve all the stakeholders in the communication process – because all need to understand the directions, where we are going and not see only the challenges – but also the opportunities to develop the energy system and the economy,” she said.

“It is time for investment and transformation. We need to cooperate with everyone involved, to understand the opportunities. And authorities must try to transform the areas most affected by the Green Deal, help economic recovery, find jobs for people. Communication with the miners is not good enough – we need to find jobs for them to communicate better. Such solutions will only be identified by working together.

Many have changed in the ministries – we are now working together with the Ministry of European Funds, with the main stakeholders – Transelectrica, ANRE, OPCOM on the transposition of the new package for the new electricity market. We will have a new green law for electricity. With the Ministry of European Funds, we are working on territorial transition plans, and things are changing positively – we cooperate better, although much remains to be done. But the most important thing is to communicate at local communities level – to help them attract financing, especially in the most affected areas”.

This conference Spring Cocktail 2021 was organized by Energynomics, with the support of our partners: AON România, Automobile Bavaria, Electrica Furnizare, Hidroelectrica, ING Bank România, OMV Petrom, PeWeTe, Photomate, Siemens.

Almost 250 people joined the MyConnector platform to watch the LIVE event and the speeches.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.

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