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Investments of EUR 30 billion needed in energy sector

Published

July 13, 2015

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Published:

July 13, 2015

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Government of Romania has extended the implementation period for the „District Heating – Warmth and Comfort 2006–2015” programme until 2020. It includes various investments in the generation, transmission and distribution of thermal energy. A total amount of EUR 480 million was allocated, Romania Insider reported. However, only EUR 95 million have been used so far. The rest is planned for between 2015 and 2020, reports local Hotnews.ro. The plan is to modernize the thermal power plants, but also to increase the quality of thermal energy supply services, by reducing the system’s losses. It also supports combined heat and power plants.

Romania’s energy sector requires about EUR 30 billion investments in the next 15 years, and most of them should come from the private sector, Catalin Pauna, World Bank’s economist in Romania, said earlier this month. Legal framework should be adequate in order to attract direct investments, she added. The local power exchange platform Opcom is one of the most transparent ones in the European Union, Pauna said. „I’ve seen increasing volumes of electricity traded on the exchange. Wholesale prices have dropped significantly in the last 2–3 years,” the World Bank’s representative added.

Meanwhile, Enel Distribuţie Muntenia announced the start of modernization works on the North substation (high/medium voltage), which serves approximately 100,000 clients in the northern area of Bucharest, as well as parts of the central area of the city. Modernization and consolidation works require an estimated investment of RON 54 million (EUR 12 million). The station will have an installed capacity of 200 megavolt-amperes. Protection boards and auxiliary services panels will be replaced with boards equipped with new protection terminals and new auxiliary services panels, so that the substation will be integrated in the remote control system, the distributor said.

Enel Distribuţie Muntenia has also completed the upgrading works of the high/medium voltage substation in Chitila, Ilfov; the station provides power to over 17,000 customers. The modernization works required an investment of EUR 3.32 million, the company said. The 110/20 kV substation supplies electricity to over 17,000 customers. The substation now has an installed capacity of 80 megavolt-amperes.

Romanian electricity distributor Electrica’s shareholders have approved its investment plan for this year, which amounts to over EUR 193 million. Electrica has about 3.5 million customers, through its distribution subsidiaries and six energy services companies. The company recorded a net profit of EUR 63 million last year, up sevenfold compared to 2013.

 

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