Romania to Increase Level of Energy Independence

Romania is taking action to increase the level of energy independence, in order to alleviate the current crisis and to ensure the energy stock for the period 2022-2023. The Russian-Ukrainian context also plays a significant role here.

On March 8, Romanian prime minister Nicolae Ciuca spoke with representatives of the Romanian energy companies Romelectro, Hidroconstruct, Hidroelectrica, Oltenia Energy Complex and Hunedoara Energy Complex to identify solutions for developing the national electricity production capacity, analyzing the measures to increase the level of energy independence of Romania starting 2022.

Due to the EU sanctions towards Russia after the invasion of Ukraine, which involves severing the European Union’s economic relations with Russia, Romania and many other countries from UE are confronting an energy crisis.  Because Russia is one of the largest energy exporters, Romania has to find solutions to energy independence.

In this regard, the president of Romania, Klaus Johannis, mentioned in a press release that Romania’s strategic objectives in the current crisis would consist in working towards energy independence by developing renewable and civil nuclear energy sectors. 

According to a Government release, the working meeting concluded with a plan of investments in the Modernization Fund to develop energy production capacities, including renewable sources.

Thus, since the beginning of this year, Oltenia Energy Complex has submitted projects worth 1.4 billion euros, of which 895 million euros from the Modernization Fund. Another 400 million euros will be allocated to the projects submitted by Transelectrica, and 1.1 billion euros will be added to the development of the electricity distribution network. As of this month, 960 million euros worth of project calls will be launched, which will generate an additional electricity generation capacity of 260 MW. Another 2.8 billion euros will be made available this autumn from the Modernization Fund for the development of energy production capacities.

The Government of Romania

Here is a video of the Prime Minister meeting with the energy companies’ representatives :

Photo source: Gov.ro