Romania: Five-year investment plan for energy companies

, SEE Energy News

Most state-owned energy companies have already fulfilled the order, according to which they have to approve their 5-year investment plan in line with the EU Green Deal by 15 June, envisaging over 12 billion euros in investments in the next five years, Romanian Minister of Economy and Energy Virgil Popescu said.

Electricity producer Hidroelectrica plans to build offshore wind farms with combined capacity of 300 MW, with additional 300 MW in onshore wind farms, according to Minister Popescu. Both natural gas producer Romgaz and electricity distributor and supplier Electrica will invest in gas-fired thermal power plants, while Romgaz also plans investments in the petrochemical sector.

Coal-based electricity producer Energy Complex (EC) Oltenia plans to convert some of its coal-fired units to gas, as well as to invest in the construction of solar power plants with combined installed capacity of 300 MW. Regarding insolvent Energy Complex Hunedoara, the company will be split into two entities: one will operate TPP Paroseni and the other will operate TPP Minitia.

Minister Popescu also said that it would be best if new units 3 and 4 at Romania’ s sole nuclear power plant Cernavoda would be built in partnership with the US companies using the existing CANDU technology. Last month, Romania officially terminated the preliminary agreement on the expansion of NPP Cernavoda previously signed with China General Nuclear Power (CGN).