Romania’s economy will not benefit from the chance of a sustainable recovery, as well as energy at competitive prices in the coming decades, without a significant increase in the rate of absorption of European funds, at least three times the current rate, and without taking into account financing for the integration of green technologies, including hydrogen, according to Horvath & Partners.

“I believe that Romania must declare a zero priority the full absorption of European funds available, as well as their use in areas that create long-term competitiveness. Among the priorities are digitalization and renewable energy, including adjacent emerging technologies, mainly hydrogen, which should lead to competitive electricity prices in about a decade and be able to provide both energy security and a major boost to the local economy. Which is why it is vital that our country develop as soon as possible an effective National Strategy for the use of European funds and the steps that will ensure their full absorption. It is not only the task of the authorities to draw up such a program, but also of companies, including private ones, the whole business environment that is directly interested in clarifying and finding the most appropriate answers to current challenges. Horvath & Partners plans to support and engage in such an endeavor, both in terms of management consulting and over four decades of experience in numerous local and regional projects, including hydrogen technology,” says Kurt Weber, general manager of Horvath & Partners Romania.

“A technologically outdated energy industry as a whole hits hard the competitiveness of all industries that have a significant share of electricity in the cost of manufacturing products. Without clean energy, covering needs and being offered at competitive prices, the value chain of any economy cannot determine a sustainable competitive advantage,” Weber added.

Green hydrogen is a chance that Romania should not miss.

“Even though green hydrogen-based technologies are not yet mature, and now hydrogen produced from fossil fuels costs 2-3 times less, they represent the future in energy. The global strategy, which follows both The European Union, as well as countries such as the United States, Japan, South Korea and China, is that green hydrogen to be produced on a large scale and at competitive prices in about ten years. Romania must become involved in technologies that produce and use hydrogen achieved without emissions or by capture, in order to have a position in the race of the technologies of the future, based on clean energy. We are in a position where we could have the competitive advantage of being one of the few countries with significant natural gas reserves. This, in combination with carbon capture technologies, could be one of the most competitive technologies for the production of blue hydrogen, or hydrogen without greenhouse gas emissions,” Weber also said.