Romania needs investments to transform the energy system, which must be done with clean technologies, based on competitive mechanisms, said Virgil Popescu, Minister of Economy, Energy and Business Environment, during the Romanian Energy Day Conference, organized by the Romanian Energy Center.
“Romania needs investments to transform the energy system. (…) Romania and the US have signed an intergovernmental cooperation agreement that will contribute to the refurbishment of the Cernavoda power plant. US interest in this project is welcome because we need a mature strategic investor to help us with our projects. All this gives credibility, but also a strong political signal regarding the involvement of the Romanian government in this field.
We want to make all these investments in the field of nuclear energy together with the Americans, the Canadians and the French in order to meet all the targets set for 2030 (…) Romania can accept the new targets under certain conditions (of the European Green Deal). The characteristics of each Member State must be taken into account and, at the same time, we must take into account long-term socio-economic implications,” Popescu said, quoted by Agerpres.
The Minister of Energy said that Romania must find new ways to capitalize on natural gas, as well as investments in the offshore area.
“I believe that the achievement of these objectives involves the transformation of the Energy System that must be achieved on clean technologies, based on competitive mechanisms. These transformations involve significant investments in production, smart grids, as well as new market models based on new energy capacities and innovation. We need to see new ways of harnessing natural gas to support the integration and transition process. The Just Transition Fund is a tool that will help us get through this process well. We can move from coal to renewables and gas much more easily, with it. In Romania, we are considering the energy transition and we are considering the fact that natural gas and the nuclear power plant are playing an increasing role. However, we need to recognize regional differences and take into account the resources we have, as well as the capacity for innovation. We need to consider investing in the offshore area, because there are large production capacities and we also need to consider cooperation initiatives that help us meet energy security goals,” Popescu added.