Ambassador: Greek companies have invested over 5.5 billion euros in Romania's energy sector since 2023

  Investments made by Greek companies in the energy sector in Romania have exceeded 5.5 billion euros since the end of 2023, said the Greek ambassador to Romania, Lili-Evangelia Grammatika, upon launching the third edition of the Code of Good Practices for Renewable Energy in Romania. “My presence here, today, shows the significant progress recorded in past years in the field of energy, in consolidating cooperation between Greece and Romania, both at bilateral and regional levels. I am proud to say that in past years, Greek companies have been in the top of direct Greek foreign investments in Romania, with over 5.5 billion euros invested in the energy sector, since the end of 2023, in emblematic projects,”said Lili-Evangelia Grammatika. The Greek ambassador pointed out the investments made and planned by PPC in Romania. “I would mention PPC as the main investor, with over 4 billion euros already invested, including renewable energy, here in Romania, and another 3 billion euros to be invested until 2030. PPC Renewables is the main renewable energy producer in Romania. I will not insist on figures referring to the capacity of producing energy, as I risk details on production capacity and locating the largest projects may not be up-to-data any longer, considering that several projects are already being developed, besides the existing ones which are fully functional,” she pointed out. According to the ambassador, other Greek companies have already made investments of over 1 billion euros in the energy sector in Romania. “Other Greek companies invested over 1 billion euros in the energy sector in Romania, in important projects in the field of renewable energy, including photovoltaic and wind parks. Metlen, Helleniq Energy, Sunel and other less known companies, with high expert level, are present here with important projects in renewable energy sources, all of them contributing to diversifying Romania's energy mixture and the green transition, backing important objectives of the country's energy plans within the broader frame of EU energy policies,” said Lili-Evangelia Grammatika. She also pointed out the importance of regional cooperation for energy security and independence. “The broader perspective is also important, in the context of consolidating regional efforts in promoting energy independence and security. Greece is in the top of major initiatives and actively contributes to expending energy capacities and ensuring additional sources of energy, safe and resilient. Our countries share joint strategic objectives and are natural partners in efforts made to set up a safe and sustainable enery network, which should contribute to energy efficiency and resilience at European level,” the ambassador pointed out.” In her opinion, one the main challenges is ensuring energy security at the same time with backing competitiveness. In conditions in which we are facing unprecedented crises, both near the eastern European borders and in the Middle East, EU energy policies, the Green Deal and Fit for 55, were placed under a question mark and critically analysed, in the context in which we are called to answer to the big energy price rises and the singificant market distortions. Are the Green Deal objectives still relevant? Yes. Greece is an elloquent example. By means of investments in renewable enery sources, Greece has diversified its energy mixture. Renewable energy represents 52.6% of the energy mixture this year, contributing to the consolidation of Greece's energy resilience. Greece has also become a net exporter of electric energy, while a few years ago, it was a net importer,” Grammatika explained. Referring to Romania, the ambassador pointed out the structure of the energy mixture and the need to develop storing capacities. “Romania has very good prospects in this matter, with an energy mixture including nuclear energy and hydroenergy. However, both countries should accelerate developing storage capacities in bateries. In this field too, Greek companies are present with important investments and expertise,” the ambassador added. At the same time, Lili-Evangelia Grammatika pleaded for increased solidarity among EU member states and for reducing price differences in electric energy markets. (Photo:https://www.facebook.com/)