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Government: Investments of over 16 billion euro for the development of the energy sector of Romania

January 24, 2022

The government analysed on Monday, during an informal meeting, the opportunities for financing worth over 16 billion euro, funds which the country will benefit from up to 2030 to develop its energy sector in transition towards an economy which could observe the environment and to combat the effects of climatic changes, informs the government, in a press release.   Premier Nicolae-Ionel Ciuca asked that Romania prioritise the generation of production capacities for the parts necessary to the projects for the production of energy from renewable sources. This approach will generate both economic benefits through the sustainable development, horizontally, of the production capacities in the energy sector, as well as the creation of new workplaces, in domains of the future.   The minister of energy, Virgil Popescu presented the National Energy Strategy, the National Integrated Plan for Energy and Climatic Changes, as well as the Financing Instruments in the domain of energy until 2030.    The value of investments which Romania can have by using European funds through the PNRR and the Modernisation Fund surpasses 16 billion euro, in domains such as renewable energy, coal replacement, nuclear energy, co-generation, biofuel, modernisation of the energy infrastructure. Among the beneficiaries of these investments are the local communities which will be able to access funds for modernization and extension of the heating networks.   The strategy has eight fundamental planned strategic objectives for the period 2021-2030 and the time horizon of the year 2050. The objectives of the strategy support the meeting of national targets assumed at the level of 2030: 43.9% reduction of the ETS emissions against the level of 2005, by 2% of the non-ETS emissions against the level of 2005 respectively, 30.7% share of renewable sources energy in the gross final consumption of energy and 40% reduction of the final consumption of energy against the projection PRIMES 2007.     To meet the EU objectives for energy and climate for 2030, the member states must establish a national plan integrated for energy and climate (PNIESC) for ten years to contain the way in which they intend to approach the five domains: a) energy efficiency b) renewable sources c) reduction of greenhouse gas emissions d) interconnections e) research and innovation    In the government meeting of 4th October 2021 the National Plan integrated for energy and climatic changes (PNIESC) was approved for the period 2021 – 2030.  Romania proposes, through PNIESC, that the share of the energy from renewable sources in the total consumption of energy to increase until 2030 by the growth of installed capacities for wind and photovoltaic units, as well as through the growth of the number of prosumers.    By investments, until 2030 Romania must have net installed capacities of 5.1 GWh of solar and 5.3 GWh of wind. As a whole, Romania proposed, in the period 2021 – 2030, to install additional capacities of 6.9 GW from renewable sources. At the same time, through SER the development of a Nuclear Programme is planned for medium and long term, the modernisation CEO and CEH, investments of the companies Hidroelectrica and Romgaz.   The financing of the energy projects for reaching the objectives in the Energy Strategy of Romania and PNIESC will be made from the funds coming through PNRR and the Fund for Modernisation.  

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