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Huge investment needed in Romanian green energy development: minister says

Romania needs to invest €2.7 billion ($3.67 billion) in the generation of renewable energy by 2015 if the country is to comply with a European Union energy strategy, the environment minister said yesterday.

Attila Korodi stressed that more than two thirds of the cash - €2 billion - will have to come in the form of direct investment. However, about €300 million ($408 million) has already been invested since 2003, he said. The minister said studies had shown that wind power installations with a total capacity of 14,000 MW could be installed in Romania. These would have an ability to feed almost 23,000 GWh per year into the power grid.

Romania’s solar energy potential is about 1,100 kWh/m2 a year, added Korodi. “If we harnessed the country’s solar potential at capacity, we could get the necessary energy for preparing 50% of household warm water or 15% of the current heating energy,” he said. The hydro energy potential of the main Romanian rivers is 40,000 GWh a year, he said. (