GE Energy: We cannot leave it to the private sector to make all investments in the energy sector

Around 80% of energy generating facilities in Romania are outdated, with investments in the sector being needed more than ever before. However, the financial effort cannot be placed only on the shoulders of private investors, and the Romanian state should become aware that in the absence of a coherent strategy, Romania is likely to become an importer of energy, believes Carmen Neagu, region executive of GE Energy for Romania, Bulgaria and Moldova.
"At European level, the need for new investments in the energy sector is bigger than ever. In Romania 80% of the overall installed capacity has outlived its life span," Neagu says.
In the past twenty years, in Romania there has been no sizeable new investment in thermoelectric and hydropower generation. There has been no shortage of plans or strategies in the energy sector, but more often than not they remained only on paper. Under the circumstances, the only notable investments were made by the private sector. They include the 1.1 billion-euro wind farm that the Czechs at CEZ are building in Dobrogea (SE Romania) and the 500 million-euro gas power station that Petrom is building in Brazi. Equipment for the two projects is provided by American giant General Electric (GE).