Energy investments in Romania to top €10 bln

Investments announced in the past year alone in the energy sector exceed €10 billion and are set to lead to thousands of megawatts in production.

Fields of significant interest are wind energy, hydro energy, biomass and classical thermal energy. Several representatives of potential investors told Business Standard that they are betting on a rise in energy consumption in , amid industry development and higher purchasing power of the population.

Ratia Energie, a company based in , with €1.1 billion in income in 2007, entered the local market and launched energy trading operations as of January 2008. It also plans to invest in energy production. “We are interested in hydro energy, wind energy and thermal energy. We have no specific plans as yet,” the company’s Country Manager, Dan Dragan, told Business Standard. Another company interested in ’s wind energy potential is Renovation Power, part of international Renovatio Group, which is currently developing three projects for a total capacity of 150 MW, in southern and eastern . Business Standard has calculated the total investment at some €200 million.

Several energy companies and large consumers also announced projects to build their own energy production capacities, including ’s largest steel plant, ArcelorMittal Galati, and Petrom and LukOil oil companies.