Romania is among the top five recipients of the funds made available by the European Commission / EC /, in the period 2014 – 2020, for investment in energy infrastructure, and the biggest beneficiary is Poland, said Thursday Tudor Constantinescu, Senior Adviser DG Energy in the EC, the Energy Forum.
He said that the need for investment in energy infrastructure in the EU is estimated for the period 2010 – 2020 to 1,000 billion and investments in energy efficiency needs 850 billion euros and 85 billion euros per year.
Constantinescu stressed that the achievement of EU energy policy is needed to attract more investors – EIB, EBRD, private sector, given that, for example, EU cohesion policy, is allocated only 27 billion until 2020 for investments in energy efficiency and renewable energy.
He said that EU member states are trying to reach agreement by October on the objectives in the field by 2030 of reducing emissions by 40% and a share of over 27% renewable energy target to EU equitably apportioned among Member States.
Maria Vagliasindi, senior economist at the World Bank said that in 2012 and 2013, investments in renewable energy fell globally amid investors' worries about future policy in this area, especially on cuts in subsidies retroactively especially solar energy, but the good news is that emerging markets investments represent almost half of overall investment in renewable energy.
Regarding Romania and its attractiveness for investors in energy, Vasile Yuga, country managing partner at consulting firm PricewaterhouseCoopers Romania, showed that the strengths are political stability rating of 'investment grade', investor protection, access to finance alternative by European funds or state aid, tax incentives for investments and weaknesses are unworkable legislation in the public-private partnership, underdeveloped capital market, volatile demand, the issue of sustainable access to resources and information on resources, while reasonable level of fees is debatable.
Yuga said that Romania needs investment of 40 billion euros to modernize its energy system.
Deutsche Bank chief representative office in Romania, Mihai Ionescu, said he found the meetings with foreign investors that Romania seems to be very attractive at this time in relation to the political situation in Europe, but it takes a stronger presence of companies largest state in the capital market. (National News Agency Agerpres)