The banks and investors in the Romanian energy sector cannot make long-term estimates on the energy market in the absence of an energy strategy assumed by the authorities, so currently there are no large investment projects on the market, in this field, said Oana Mogoi, the coordinator of the Energy infrastructure team (BCR), quoted in an article by Agerpres.
“It is very important for us to know what Romania’s energy mix will be in the future. We believe that it is very important that Romania’s energy strategy will be approved, so that the investors and the financial institutions align their projects with the country’s general long term strategy”, said Mogoi at the Energy Breakfast Club, a conference organized by energynomics.ro.
According to Oana Mogoi, both banks and investors need to know what the country is proposing as a strategy to develop a particular type of project or another. “We see a higher production as a result of renewable energy in the new projects, we see market coupling and export growth. It is very important for us to know what the national energy strategy says about how will the production and consumption evolve. We need to know what Romania wants to achieve in the long run, for example if we want to export more electricity or if we want to use the oversupply to heat our houses, which is the correlation between energy consumption and the development of the industry”, said the BCR representative.
Mogoi added that the bank is ready to support interesting projects in the energy sector, but for now, investors are in stand-by and they do not develop interesting projects. “Unfortunately, we do not receive or see interesting energy projects on the market, but we are open to supporting this sector and to see new projects coming to the market”, she said.
The Romanian energy sector is a stable one, “we have the advantage of the geographic positioning and a diversified mix of resources, the macroeconomic context is advantageous, we have enough liquidity in the market, we have available European funds, we have banks and other financial institutions and we have investors”, also said Oana Mogoi. “Negative issues are regarding the volatile regulatory framework, unsustainable subsidy schemes, poor coordination between the public authorities, at least in the heat sector, and we see that the energy strategy is still pending and provides no detail for investors and institutions to have the convenience of basing their predictions on something sustainable in the long run”, continued Oana Mogoi.
The Ministry of Energy published last autumn a proposal for a new document on Romania’s Energy Strategy 2017-2035, a project currently undergoing the debate regarding the obtaining of an environmental approval.