Romania To Close Half of Power Plants by '35, Needs up to 40 Bln Euro To Create New Capacity - Reuters

BUCHAREST (Romania), April 20 (SeeNews) – Romania needs up to 40 billion euro ($58 billion) of investment in new electricity generation, while it is forced to close a third of its outdated power capacity by 2020 and more than half by 2035, Reuters reported on Wednesday.

A draft of the economy ministry's energy strategy by 2035 released on Wednesday estimates the European Union state will need 30 billion to 40 billion euro to create new production capacity of some 14,800 megawatts (MW) to replace aging units, Reuters reported.

In the draft energy strategy, investment priorities include upgrades to three large lignite-fired power holdings by 2015 and the addition of two 720 MW units at the country's sole nuclear power plant in Cernavoda by 2020.

It also envisions a new 1,000 MW hydro power plant and a second nuclear power plant of up to 3,200 MW by 2035 and continued support for renewable energy, particularly wind power.

However, the strategy does not outline specific measures to secure funding, Reuters said.

The strategy also said renewable energy, including hydro power, should account for 38% of all electricity by 2020. It sees power consumption growing by just under 3.0% on average each year until then.

($ = 0.6893 euro)

Choose your newsletter by Renewables Now. Join for free!