Romania, New investments in the energy sector starting with 2022

, SEE Energy News

Romanian Minister of Energy Virgil Popescu announced new investments in the energy sector starting with 2022, which can be financed from several sources available both from national resources and from European non-reimbursable funds.

According to the Government’s program, but also regarding the achievement of the decarbonization targets assumed by Romania, Romania needs serious investments in the energy field. Minister Popescu said that financial resources exist, and this year the Government will launch several project calls to access these funds. The Ministry of Energy has almost completed several guides for project calls, as well as financing schemes. For example, in March the Government intends to launch a call for renewable energy projects, as well as projects for hydrogen production. The draft Emergency Ordinance to establish the details of the Modernization Fund is already prepared and in 2022 Romania can start investing over 16 billion euros in ensuring its energy security.

The sources of financing include the National Recovery and Resilience Plan (PNRR), estimated at 1.6 billion euros, the fund for modernization, based on the provisions of the EC, with an allocation currently estimated at over 15 billion euros, as well as ElectricUP financing program.