Romania is set to be connected to the Western European energy network thanks to grid investments worth EUR 30 billion. The funds will be provided by the EU by 2035, and the project will link Romania to Hungary and Austria in a joint project.\u00a0<\/p>\n
Romanian energy minister Bogdan Ivan<\/strong> signaled the signing of the new financing package dedicated to electricity networks.<\/p>\n \u201cWe are talking about robust financing, which can reach EUR 30 billion, including for the crucial projects proposed by us in this strategy. Interconnecting our network with Western Europe is a strategic objective through which we aim, concretely and directly, to reduce energy prices and increase Romania\u2019s energy stability,\u201d said Bogdan Ivan on Facebook<\/a>.<\/p>\n After the project, Romania will gain an almost doubled interconnection capacity, from the current 4,000 MW to 7,200 MW.<\/p>\n The same financing package also includes the Green Corridor, a transregional project that connects\u00a0Europe to baseload energy delivered from Azerbaijan through Romania. The capacity is 4,800 MW.\u00a0<\/p>\n \u201cThe energy highways interconnect here, in Romania. The Green Corridor, which connects us to energy from Azerbaijan, comes out of the Black Sea in Romania. The Trans-Balkan gas route passes through Romania. The Austria\u2013Hungary\u2013Romania interconnector ultimately ensures an important segment of the new \u2018energy highway.\u2019 We are in a very good position and must transfer this advantage into people\u2019s homes and the real economy,\u201d Bogdan Ivan emphasized following the EU Council meeting.<\/p>\n Following the meeting, Romania will draft, together with Hungary and Austria, a memorandum to gain access to a solid financing package for interconnection.<\/p>\n \u201cWe estimate that by 2028 we can be connected to Western energy markets, for example, France, where the abundance of electricity from nuclear sources keeps prices very low,\u201d the minister stated.\u00a0<\/p>\n