Valentin Bargau, Director, Chief Investment Officer at Restart Energy, spoke at BR’s Environmental & Sustainability Summit 2021 about the Romanian energy sector, green & renewable energy production, and the investment opportunities available in this area.
Considering that we have to import energy sometimes to cover the demand, how stable is the energy industry in Romania today?
The energy sector in Romania is in the middle of a complex transition that’s why i believe stable is a relative term, and a more appropriate one should be evolution. Our energy sector in order to meet the environmental targets as well as the needs of the economy has to accelerate its transition to more sustainable energy production sources, better software integration, and smart grid development. I think these elements will provide more energy autonomy for Romania in the future.
Are there new investments in green power production in Romania?
We are seeing a lot of interest in the energy sector for developing renewable projects. The trend accelerated in the last year and a half and we expect to accelerate further due to US and European green initiatives. In line with these trends, Restart Energy has around 550 MW of solar projects in various stages of development and we will start bringing them online next year.
“We are trying to grow with the help of financial partners, but in this space it is not only banks but also investment funds, which have a certain template when they invest.” Bargau said about the investment opportunities in the energy sector.
The price of electricity is on the rise. How high will it get?
We expect the price to remain volatile so it is difficult to make an accurate prediction but i believe the price of energy in general will be higher than prrevious average. This is due to various factors, political, economic, and geopolitical. The fact is that it’s time for us to realise the green transition has a cost and this will be incorporated in the energy prices in the future.
“The steep price increases of the last few weeks have caused strong feelings among consumers. Suppliers have taken the brunt of this wave of discontent upon themselves.” Said Valentin Bargau during the event.