Romania will have a difficult task in achieving its climate targets, and digitalization and private sector involvement are crucial to the success of this plan, said Anna Akhalkatsi, Country Manager for Romania and Hungary at the World Bank.
“There is not an easy task ahead for Romania in the coming years, but digitalization will unlock the country’s potential. Energy transport and financing are vital for economic development and social inclusion. Technically, Romania has renewable energy potential, but it needs to accelerate nationwide electrification to meet climate targets, and to do this, it needs to step up investment,” said Anna Akhalkatsi, at the 11th Energynomics Awards Gala.
Romania must act quickly, through investment, to increase the power network’s robustness and resilience, integrate renewable energy into the grid, diversify the energy mix, promote energy efficiency, advance sustainable heating, and transition from coal in a just way.
Also, România can set the standard for how the green transition can happen. This will require a monumental effort by each and every country in the world and cannot be achieved without massive private sector involvement, said Akhalkatsi.
“The private sector will be at the heart of Romania’s efforts to achieve net zero by 2050. The energy transition requires monumental efforts to truly transform our economies and societies. More than 65% of EU energy is imported, and this exposes the economy and other critical sectors to increasing fluctuations in fossil fuel prices. As a result, there are legitimate concerns about the security of supply,” Akhalkatsi said.
Akhalkatsi added that the World Bank stands ready to further support Romania and other client countries to achieve their ambitious green growth objectives because “it is crucial for the future to invest in renewable energy and energy efficiency.”
Energynomics Awards enjoy the support and trust of the most reputed institutions and associations of local energy. The Energynomics Awards project is mostly self-financed, proposed and organized by Energynomics and it was supported this year by its partners: ADC, Alexandrion Group, Alive Capital,CIS Gaz, CEZ Romania, Datacor, E.On, Electrica, EnergoBit, EnergoPower, Enevo Group, Ensys, Exim Banca Românească, Huawei, ING Bank Romania, Kawasaki Gas Turbine Europe, Noark, Nofar Energy, OMV Petrom, OX2, Photomate, Renomia Gallagher, Rezolv Energy, Romgaz, Transelectrica, Transgaz, Volt, Waldevar, XP. With the support of Imsol, Sixt.
Strategic partners for the Energynomics Awards 2023: ACCER, ACUE, AFEER, AIIR, CRE, EFdeN, EPG, FPPG, HENRO, PATRES, RPIA, RWEA.