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Niculae Havrileț: The Modernization Fund has attracted more than 600 proposals, totalling 19 billion euros

30 March 2021
Bogdan Tudorache

Interest in the Modernization Fund has resulted in over 600 proposals totalling 19 billion euros, said Niculae Havrileț, State Secretary at the Ministry of Energy at the 8th annual edition of Spring Cocktail, a concept event organized by Energynomics.

“I see positive development for the energy sector, as we have launched the new program of financing through European funds and will use European funds to an extent not previously seen by Romania. We started in 2020, amending Ordinance 114/2018 with the first ordinance of 2020, to return to the free market. We have succeeded in introducing the possibility of concluding bilateral contracts, to encourage investors, to provide them with the financial mechanism necessary to have bankable projects. We have also established that from next winter we will no longer oblige suppliers to store natural gas as it harms the free gas market”, said Havrileț.

“For the coming period, we intend to transpose Directive 944, to apply Regulation 943 of the EC and to create a specific mechanism for the use of the Modernization Fund. We are talking about 6-7 billion euros, or even more, over the next five to six years. We received a very important signal from investors, who sent us before 30 November – when it was the first deadline for submitting projects – about 600 proposals, totalling 19 billion euros. Investors need legislative stability and I am optimistic that in the next period we will have positive development in the energy sector,” he added.

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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