Romania is emerging as a key pillar of energy security in Eastern Europe thanks to its Black Sea gas resources, stable nuclear generation and growing renewable energy capacity, but faster investments in grids, storage and system flexibility are needed to unlock its full potential, according to Mihaela Mihăilescu, Deputy Head of Romania at the European Bank for Reconstruction and Development (EBRD).
“Romania has all the ingredients to be a regional energy leader. We have resources, a good location, talent and growing investor interest. But the next phase of the transition will depend not only on ambition but on execution: grid, storage, flexibility and so forth,” Mihăilescu said, at the Energy Strategy Summit 2026, organized by Energynomics.
She highlighted Romania’s strategic position on the Black Sea and the European Union’s eastern border, noting that the country is increasingly playing a critical role in regional energy security. With direct connections to Ukraine and Moldova, Romania has become an important contributor to the stability of neighboring energy systems. According to Mihăilescu, energy has become as much a matter of security as of markets. Romania’s natural gas reserves in the Black Sea, stable nuclear generation and expanding renewable energy portfolio provide assets that can support both domestic demand and the wider region.
She pointed to Romania’s assistance to the Republic of Moldova during periods of energy shortages and its contribution to stabilizing Ukraine’s electricity system as examples of the country’s growing regional importance. At the same time, she warned that the pace of the energy transition is creating significant bottlenecks. Grid capacity remains insufficient to keep up with the growing volume of investments and regional energy needs, while lengthy permitting and regulatory procedures continue to delay projects. She also stressed the importance of developing energy storage, demand-response mechanisms and digitalized grid management to improve system flexibility.
Innovation is another area where Romania still needs to accelerate deployment, despite its strong potential and growing interest from investors, Mihăilescu added. The EBRD executive said the institution significantly expanded its activity in Romania over the past two years. In 2024 and 2025, the bank contributed to the deployment of 2.5 GW of renewable energy capacity and 1,000 MWh of storage capacity. During the same period, EBRD invested close to 450 million euros of its own funds and mobilized nearly 1.5 billion euros in private investment.
Beyond financing, EBRD is supporting market reforms and the deployment of new technologies. After working with Romanian authorities on Contracts for Difference (CfDs) for renewable energy projects, the bank is now collaborating with the Ministry of Energy on the design of similar support mechanisms for energy storage projects. The initiative began in September and is expected to take around two years to complete. Mihăilescu also underlined EBRD’s involvement in offshore wind development in the Black Sea. Working alongside other international financial institutions, the bank has helped define the framework needed to support Romania’s target of installing 3 GW of offshore wind capacity.
She said EBRD is actively supporting projects aimed at increasing electricity consumption and accelerating the adoption of new technologies. The institution is prepared to provide both financing and grant support to help projects become bankable and attract private investors. On energy efficiency, Mihăilescu noted that EBRD is rolling out a 50 million euros first-loss guarantee instrument through partner banks. The scheme supports investments in energy efficiency, renewable energy, sustainable transport and biodiversity, particularly for SMEs and mid-sized companies. Discussions are also underway with the European Commission and Romanian authorities to expand the facility to include sustainable agriculture projects.
Energy Strategy Summit 2026 was organised by Energynomics, with the support of our partners: Elektra Renewable Support, 4P Renewables, ABB, Alive Capital, Atmoce, Baringa, BCR, Big Store, Capalo AI, CBRE Romania, Distribuție Energie Electrică România, Eastship, Distributie Oltenia parte din Evryo, Eaton Electric, Electrica Furnizare, Electroalfa, Electroprecizia, EnergoBit, Enery, Enexus, Eurowind, Evryo, Exim Banca Romaneasca, Hagag Energy, KStar, LONGi, MBK Power Energy, MET Romania Energy, Monsson Trading, Nextpower, OX2, Romgaz, Schraubram, Sigenergy, Softenerg WEBUS 4 ENERGY, Solar Today, Sunotec, TBEA, Think Blu Solution, Transelectrica, Waldevar Energy, WTW Romania. Coffee Break Partner Enerta. Lanyard Partner Monsson Operation. Beverage Partners Aqua Carpatica, Alexandrion. Digital Partner Imsol. Mobility Partner BlackCab.