HomeNewsRomania sets aside US$14Bn to go towards energy projects

Romania sets aside US$14Bn to go towards energy projects

The government of Romania has released information stating their investment plans for the energy sector for the years 2020 through to 2025. They have set US$14Bn aside to be injected into the sector for projects such as the construction of new gas-fired power plants and hydropower plants, projects in renewable energy and hydrogen, retrofitting of substations, as well as the construction of new power lines. The projects are a part of the Orban Government’s development plans for energy corporations that were supposed to have been prepared in the month of June but were pushed back due to the current global pandemic.

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Among some of the projects in the Romania investment plans are the onshore and offshore wind parks (2x300MW) that would amount to US$1.07 Bn; new hydropower production capacities in Retezat, Vidraru, Mariselu, Avrig, Bistra, the Livezeni and the restructuring and decarbonization plan 2020-2025 of the company Complexul Energetic Oltenia S.A., worth US$1.68 Bn and the plans to increase in the nuclear power production capacity with at least one unit by 2030 and extending the life of Unit 1 by 30 years.

In the period 2017-2019, Romgaz invested about US$665M and for the period 2020-2025, it targets an investment volume of about US$3.7Bn. The strategic investments of Romgaz are, according to the Government’s Strategic Plan, the following: Gas turbine combined-cycle power plants, which are in line within the objective of decarbonization of the energy sector by switching from the coal-fired capacities to gas-fired and renewable energy capacities. The gas turbine combined-cycle power plant in Iernut. The budget allocated for the completion of the new power plant, as well as to repair and upgrade the infrastructure of networks and utilities taken over from the old power plant for serving the new one is US$75Mn. It will have a capacity of 400 MW and should be completed by the end of this year.

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