The meeting on Thursday of the Minister for Energy, Răzvan Nicolescu, with Merrill Lynch officials comes amid a huge funding required for long-term projects of the state.

Thus, Nicolescu met with Chris Saunders, Director for Central and Eastern Europe at Bank of America Merrill Lynch, but the projects in which one of the biggest American and global investment banks may involve were not disclosed.

“We note with satisfaction the Bank of America Merrill Lynch’s intentions to increase its presence and activities in Romania. We told them that we are happy that the interest of American investors in Romania is increasing, as evidence being the IPO for Electrica, as well as the financing needs for Romanian energy sector in the coming years”, said Răzvan Nicolescu.

Recently the Romanian government announced projects worth several billion euros, including Hydro Tarniţa and reactors 3 and 4 at Cernavodă. Other projects will receive Chinese co-financing, and it is possible that the Romanian state will need a third partner to finance them.

Candu Energy of Canada, the Bank of Industry and Commerce of China and General Nuclear Power Corporation of China have shown interest in the reactors, and the government launched last week the investor selection notice for Tarniţa hydroelectric project.