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Romania requires €30bn by 2030 to revive its energy sector

According to Romania's draft energy strategy, the country needs €15bn to €30bn by 2030 to revive its ageing and outdated energy sector. Investment needs may even go further, up to additional €15bn between 2031 and 2050. The sectors in need for investment are the power generation sector, oil and gas production, mining and infrastructure.



The country is a net exporter of power, but turns to the foreign market for up to 10% of its gas and almost 70% of its oil needs. The Energy Ministry is currently waiting for the feedback on the national 2019-2030 energy strategy, which will define a set of investment targets mainly in gas and electricity networks, interconnections and power generation. The country has an installed capacity of 25 GW, being it roughly 50% thermal (of which 30% CHP), 30% hydro, 5% nuclear, 10% wind and 5% solar. Most of its power plants, however, are over 30 and 40 years old and require replacements.

The draft energy strategy expects power generation to increase from 63 TWh in 2017 to 77 TWh in 2030 and 86 TWh in 2050. Among the potential replacement projects are the two additional units of the 2,740 MW Cernavoda nuclear plant (despite difficulties to attract investors in the high-investment project), the construction of a €1bn hydropower plant and the exploration of the offshore gas fields in the Black Sea. Romania will also invest in smart grid and metering infrastructure and in expanding gas and power interconnections.



At the end of 2018 a new regulatory and fiscal framework for offshore gas exploration and production operations in the Black Sea was established. The new law has set taxes and royalties levels, gross production thresholds and sales on the wholesale market in a way that would reduce the possibility of oil and gas companies to deduce their investment when paying taxes.

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