Romanian Energy Minister visited EIB HQ to strengthen investment cooperation

Romanian Energy Minister Virgil Popescu and Counsellor Nicula Havrilet visited the Luxembourg headquarters of the European Investment Bank to explore new opportunities to increase European Investment Bank financial and technical support for energy investments in Romania and build on the EIB’s track record of backing high-impact energy projects across the country, a release shows.

“Accelerating investment to increase of renewable energy, cut energy use and bills, and improve national and local energy infrastructure is crucial for Romania and global climate ambitions. Today’s visit to the European Investment Bank  provides a valuable opportunity to strengthen cooperation between Romania and the EIB, the world’s largest international public bank and leading energy and climate action partner. I look forward to deepening discussions to enable Romania to fully benefit from new financing and technical support available from Just Transition Mechanism, Resilience and Recovery Fund and Modernisation Fund” said Virgil Popescu, Romanian Energy Minister.

“The European Investment Bank is committed to supporting new investment across Romania to enhance power distribution, harnessing hydropower, solar energy and wind and improve energy efficiency that supports economic growth and industrial production. My EIB colleagues and I are pleased to welcome Energy Minister Popescu and Counsellor Havrilet to our headquarters to provide an update on the EIB’s enhanced support for energy transition, priority public and private energy investment and expert cooperation to share best practices. I look forward to visiting Bucharest in the coming weeks to further deepen our dialogue and announce significant new support for nationwide energy investment in Romania,” said Christian Kettel Thomsen, European Investment Bank Vice President.

Christian Kettel Thomsen, European Investment Bank Vice President responsible for Romania hosted the working meeting with EIB financial, technical and energy transition experts that took place alongside the meeting of EU energy, transport and telecommunication ministers in Luxembourg.

The EIB confirmed expected increased backing for energy transition investment in Romania as part of the EIB Climate Bank Roadmap and technical and financial support for specialised decarbonisation projects in the country.

The EIB can finance up to 75% of eligible energy project costs in Romania under the new Energy Transition Package.