Nuclearelectrica shareholders approved to terminate negotiations with Chinese for building reactors 3 and 4 from Cernavoda
Nuclearelectrica’s Board of Directors has been mandated to initiate proceedings to terminate negotiations with China General Nuclear Power Group (CGN), as well as legal effects… Mai mult›
“Putting capacity growth projects planned in Morocco and Romania on hold” – is one of the measures included in the draft plan of Renault Group… Mai mult›
Romania imported an amount of electricity of almost 796 GWh in the first month of this year, by more than 36% above what it exported… Mai mult›
GFG Alliance has committed to invest one billion euros to upgrade Galati steel plant in order to reduce emissions and increase production. Another EUR 1… Mai mult›
Green Deal / New, additional European funds for Romania – negotiation position assumed by MEP Siegfried Muresan
The transition to a green economy needs to be supported by new, additional European funds, distinct from Romania’s allocations from the future EU multiannual budget.… Mai mult›
de Adrian N Ionescu , 23.9.2019
The operator of national natural gas pipelines, Transgaz (TGN) obtained 34.7% of the total financing of EUR 720 million approved for Romania under the Investment plan for Europe (Juncker Plan).
Romania obtained not even 1% of the EUR 79.7 billion financing at the EU level, and the share of total investments attracted by Romania and stimulated by Juncker plan represents not even 0.7% of the European total of over EUR 433 billion, according to European Commission data.
Romania ranks 18th by EFSI Financing value, after the Czech Republic and Hungary, but ahead of Slovakia and Bulgaria. Romania’s position is even lower – 21st – by the share of GDP calculated for investments generated by agreements approved so far.
Transgaz projects financed are the Romanian BRUA segment and its connection to Black Sea exploitations.
Financings that Romania obtained from the Group of the European Investment Bank (EIB) and guaranteed by the European Fund for Strategic Investments (EFSI, according to Juncker Plan) have been planned to attract other private investments of over EUR2.95 billion, according to a press release issued by the European Commission.
Transgaz – for BRUA and connection to the Black Sea
Without the EUR 250 million that Transgaz obtained, Romania’s position in the ranking of the financing value would be 20, below Slovakia and Bulgaria. The value of private investments attracted would be lower by EUR 631 million.
In the ranking of the total investment share of GDP, developed economies with huge GDPs, such as Germany and the United Kingdom, whose financing needs do not depend on the EU means, as well as small economies such as Malta, Cyprus and Luxembourg, with much smaller needs, have weaker positions than Romania though.
Out of the EUR 250 million, EUR 100 million has been obtained for the Romanian segment of BRUA pan-European gas pipeline and another EUR150 million for the pipeline that will bring the natural gas from the Black Sea to BRUA.
Among other projects that have obtained financing, we can also notice;
- Arctic Gaiesti washing machines plant (EFSI financing of EUR 60 million) and some other smaller ones, such as:
- The modernization of water supply and sanitation services in Alba county (EUR 12 million);
- The digitalization of the country’s radio broadcasting land infrastructure of the National Radio-communication Company (Radiocom, EUR 9.8 million);
- The manufacturing of recycled PET fibres at GreenFiber International.
The rest of up to EUR 720 million is covered by lines of credit for SMEs through banks and multinational projects.
Romanian summary of Junker Plan
16 infrastructure and innovation projects have been approved, financed by the European Investment Bank (EIB) with the support of EFSI guarantees, financing of about EUR 519 million, and the capacity to attract investments of another EUR 1.3 million.
17 agreements have been approved for 24,525 SMEs, concluded with banks or intermediary funds financed by the European Investment Fund (EIF) with the support of EFSI guarantees. The financing is of EUR 201 million and the investments attracted EUR 1.6 billion.