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Romanian Minister for Energy, Razvan Nicolescu, returned from the summit on climate change in the USA with a pessimistic message for investors in renewables. As Romania will have a ‘prudent’ approach in terms of increasing targets for the green industry, he tells investors to wait.

“Do not hurry. Take a break… We cannot afford more than we already did”, says Nicolescu.

And in terms of climate change and growth targets lowering carbon emissions, Nicolescu believes that Romania must take a cautious approach. “Do not rush for the unilateral EU targets.”

He believes that the EU should give up to be a pioneer with too ambitious targets, leading to decreased competitiveness of its own companies.

“The European approach to engage in unilateral targets seems unrealistic … I have no doubt that Romania will reach its target of 24% in 2020”, said the Energy minister.