Romanian Minister of Energy Sebastian Burduja reappointed

Minister of Energy Sebastian Burduja remained in his seat following the recent general elections in Romania. He promised continuity and an acceleration in investment aimed at energy security and independence, lowering bills and pollution and boosting the economy. The government approved measures against hostile takeovers of companies in which it has any ownership stake, after Burduja indicated that MVM’s deal to acquire E.ON Romania Energie Romania may not be allowed.

Prime Minister Marcel Ciolacu managed to gather a majority again after the December elections by slightly extending the ruling coalition, though with a slimmer margin. His Social Democratic Party (PSD) maintained the alliance with the National Liberal Party (PNL). The latter includes Minister of Energy Sebastian Burduja, who was also appointed for a second term in the current position.

“Together we have taken important steps to strengthen the nuclear, gas, coal sectors, for production in hydropower plants, for battery storage, for the modernization of transmission and distribution networks, for district heating systems in large cities, for prosumers and the green future of the Romanian energy sector, with 10,000 MW new in solar and wind farm projects, for new Romanian battery factories and photovoltaic panels,” he stated.

The Ministry of Energy has obtained EUR 14 billion in total to back renewable energy and storage projects and equipment production

The Ministry of Energy needs continuity in vision after enormous work over the past year and a half to confirm the energy sector’s strategic status, according to Burduja. He praised his team for attracting tens of billions of euros in investments, including EUR 14 billion in subsidies and grants.

“Everything we did was for Romanians and Romania. To have energy security and independence, lower prices on bills in the medium term, less pollution, but also to encourage economic development. Energy projects attract investments, therefore jobs and economic growth. What has been gained in these months, for Romania, must be accelerated,” Burduja added, stressing that he would continue with the motto: “Investment, investment, investment.” Of note, he ran unsuccessfully for Bucharest mayor in the last local elections, held in June.

Romania doesn’t want MVM to acquire majority stake in E.ON Energie Romania

In other news, the government has approved an emergency ordinance, initiated by the Ministry of Energy, allowing ministries to increase their stakes in companies in which they are shareholders. The aim is to prevent hostile takeovers and decapitalization.

The measure is primarily for companies listed on the stock exchange. But Burduja recently warned that the cabinet may prevent Hungarian state-owned energy company MVM from the agreed purchase of E.ON Energie Romania, which isn’t listed and in which the government in Bucharest controls 32%.

The firm has a natural gas and electricity supply and distribution business and provides energy services.

Hundreds of contracts signed to support renewables

Romania is racing to meet deadlines for project funding via the European Union, especially in the energy sector. Last week Burduja signed 62 contracts for photovoltaic systems for municipal authorities and public institutions while 110 in total were signed including for battery production and energy storage units.

The minister pointed out that more than 430 solar power projects won grants in the past 18 months.