Electrica SA plans to invest in several electricity generation capacities with a cumulative power of 1 GW until 2026, of which 400 MW projects are under implementation already, said the company’s general director Alexandru Chiriță, at the 9th edition of the Energy Strategy Summit, an event organized by Energynomics.

“We hope that by 2026 we will reach the threshold of 1 GW. We work very intensively to implement projects in the shortest possible time. We can come up with an answer to the challenges in the supply segment only with investment in manufacturing. This is one of our short-term goals,” said Chiriță.

He added that the entire energy sector is facing a period that brings great investment opportunities and that facilitates, at the same time, a cultural transformation at the level of organizations in parallel with the penetration of technology and digitization.

Furthermore, the significant change that the deployment of AI systems will have on the manner of working, at the operational level, of the processes, and the energy market as a whole will be obvious in a short period of time.

“It’s a wake-up call that leads us to a very clear conclusion, namely we need investments that must be made by everyone. (…) The implementation of such systems as soon as possible will lead to the achievement of our objectives, and we will see the impact,” Chiriță also said.

Electrica Group recorded revenues of 3.51 billion lei in the first quarter of the current year, up 7.8% compared to 3.25 billion lei in the same period last year. The company’s losses decreased to 66.6 million lei, after a loss of 157.8 million lei in the first quarter of 2022.

Energy Strategy Summit 2023 was organised by Energynomics with the support of ABB, ASTRASUN Solar, BCR, CEZ Romania, Eaton Electric, Electrica Furnizare, Electro Service RB, Elektra Renewable Support, EnergoBit, Enevo Group, E.ON, Finder, Huawei, MET România Energy, OMV Petrom, OX2 România, Phoenix Contact, Photomate, ProCredit Bank, REI Grup, Renomia Gallagher, Romgaz, Schneider Electric, Signify, Transelectrica, Taw Energy, Volt, WIKA, Wiren, Alexandrion Group, Aqua Carpatica, Klarmedia and Mobexpert.