Thursday, May 23, 2024
HomeFinanceGovernment plans over 16 billion euros to transform Romania's energy sector

Government plans over 16 billion euros to transform Romania’s energy sector

The Romanian government is analysing the possibility of developing and transforming the energy sector through funds worth over 16 billion euros by 2030.

Prime Minister Nicolae Ionel Ciuca believes that Romania should prioritise domestic production from renewable sources. This approach will generate both economic benefits as well as the creation of new jobs, in the technological fields of the future.

“Romania must sustainably develop its energy system, in order to provide the necessary resources to the citizens,” he said. “[…] Domestic clean energy sources represent the future, but also a guarantee of energy independence. The investments planned through the National Recovery and Resilience Facility and the Modernisation Fund are able to radically transform Romania’s energy infrastructure, as well as its energy mix.”

Romania is fully supporting the European Union’s efforts in the field of climate change and is committed to helping reduce greenhouse gas emissions by 2030, as the country already has a high share of RES in its energy mix (40 per cent of the electricity produced comes from renewable sources).

The areas to benefit from the 16 billion euros include investments in renewable energy, coal replacement, nuclear energy, biofuel and the upgrade of the energy infrastructure, which will mainly affect local communities through the expansion of the district heating network.

Photo: Romania’s government.

Sign up for our newsletters

    Monthly newsletter – Delivering the most important energy stories of the month selected by our Editor-in-chief
    Weekly Oil&Gas roundup - All major news about the oil and gas industry, LNG developments, the upscaling of new gases and related EU regulations arriving in your mailbox every Monday.
    Weekly Renewables&Climate roundup - All major news about investments in renewable energy sources, environment protection, green hydrogen and new innovative ways to tackle the climate crisis arriving in your mailbox every Tuesday.

    Most Popular