The year 2024 marked a pivotal moment for Romania’s energy sector, defined by major developments and strategic decisions that shaped the nation’s energy future. With total investments exceeding €6.5 billion ($6.89 billion USD) in energy projects, Romania demonstrated its commitment to building a resilient and sustainable energy landscape.
🔋 Increased Investments in Renewable Energy
Romania allocated €1.2 billion ($1.3 billion USD) to renewable energy projects, including a 500 MW solar park in Dobrogea and several onshore wind projects adding 700 MW of capacity. An EU-funded contract-for-difference scheme supported additional 1.5 GW of renewable capacity. Legislative updates streamlined permitting processes, attracting private sector investment and accelerating the transition to clean energy.
⚛️ Advancements in Nuclear Energy
Romania advanced its collaboration with the United States and Canada on the Cernavodă Nuclear Power Plant, finalizing contracts for Units 3 and 4. The country also strengthened its partnership with NuScale Power to deploy the first operational Small Modular Reactor (SMR) in Europe by 2029, positioning Romania as a regional leader in nuclear innovation.
🔥 Thermal Energy and Storage Projects
Efforts to modernize Romania’s thermal energy infrastructure included the conversion of the Mintia Power Plant to a natural gas and hydrogen-ready facility. Additionally, a 200 MWh battery storage project, valued at €100 million ($106 million USD), was launched to enhance grid stability and optimize renewable energy integration.
💡 Hydrogen Strategy Task Force
Romania launched a Hydrogen Strategy Task Force to establish itself as a key player in the hydrogen economy. Agreements with Germany and Austria laid the groundwork for a Green Hydrogen Corridor, connecting Transylvania’s production facilities with Western European markets. The task force is targeting 1 GW of hydrogen capacity by 2030, supported by an estimated investment of over €1 billion ($1.06 billion USD).
🌍 Geopolitics and Energy Security
Amid the ongoing Ukraine conflict and global energy volatility, Romania prioritized diversification. The Neptun Deep offshore gas project, set to deliver 10 billion cubic meters of gas annually by 2027, gained momentum, with investments exceeding €4 billion ($4.24 billion USD). Romania also increased LNG imports through its Constanța terminal, further reducing reliance on Russian gas.
🤝 Government Continuity
The renomination of Sebastian Burduja as Minister of Energy provided stability during this transformative period. Under his leadership, Romania aligned its policies with the EU Green Deal, modernized its energy infrastructure, and achieved significant milestones in energy efficiency and decarbonization.
Conclusion
In 2024, Romania’s energy sector showcased resilience, adaptability, and a clear vision for the future. From renewable energy to hydrogen innovation, nuclear advancements, and energy security measures, the country has positioned itself as a regional hub for sustainable energy. Continued investments, strategic partnerships, and forward-looking policies will ensure Romania’s energy leadership and long-term sustainability.
Sources: Financial Times, Reuters, Wall Street Journal, Energy World, World Energy News
