Monday, May 24, 2010

Romania Eyes Balkan Energy Investments

Romania is eyeing possibilities for new investments in countries such as Serbia, Albania and Montenegro, mainly in production as well as delivery of energy, Romanian Economy Minister Adriean Videanu said in an interview on Friday.

"We have a strategy to look further at regional opportunities for investment in the rich energy potential of the Balkan countries. Romania has the possibility to become a major energy player in the region," Videanu

He added that most likely investments would be in hydropower. Bucharest is currently overseeing a controversial plan to consolidate its power producers into two energy firms, Electra (coal and thermal power)
and Hidroenergetica (hydro power).

While the government says the move is aimed to lower energy costs for consumers and raise competitiveness with regional power giants, critics say it will limit competition.

Furthermore, Romania is planning to sell several government-held stakes in key energy companies, including oil group OMV Petrom and utilities Transgaz and Transelectrica.

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