Ministry reconsiders 5bn euro energy projects

The Ministry of Economy and Trade is reconsidering the feasibility and financing methods for a number of investment projects worth a total of 4.5-5bn euros, ministry sources say. The completion of Reactors 2 and 3 at the Cernavoda Nuclear Plant, the retooling of several generators at Turceni, Rovinari and Craiova, and greenfield projects in the energy sector are now being analysed by the Office for State Interests and Industrial Privatisation (OPSPI), which is checking the feasibility of the projects and looking into ways of reducing the government guarantees they require. “Romania is in need of investment in the energy sector of around 10bn dollars for the period 2003 to 2015, during which many already existing facilities are going to be replaced. The funding for many of these projects requires sovereign guarantees, and we are trying to reduce this component as much as possible. On the other hand, we want to see whether building greenfield facilities is more feasible than carrying out major retooling projects,” the sources said. ZF