GREEN POWER SUMMIT

IRENA’s recent report World Energy Transitions Outlook calls for annual renewable power additions of almost 1 TW on average by 2030 to keep the climate target within reach. Electrification and efficiency are the key transition drivers, it said, enabled by renewable energy, clean hydrogen, and sustainable biomass.

Also, renewables and low-carbon gases will play a key role, alongside other technologies towards achieving climate neutrality along the goals set forth by the European Green Deal and the interim goals for 2030 expressed by the Fit for 55 Package.

The REPowerEU plan further emphasized the important role of hydrogen and biomethane not only for the energy transition but also to reduce dependency on Russian natural gas imports. All these will require a rapid scale up of renewables and low-carbon electricity generation, deployment of hydrogen and biomethane production capacities, hydrogen storage and import. Challenges also include improving infrastructure deployment and access to finance, supporting research, development, and innovation.

According to data provided by the Romanian National Regulatory Authority in the Energy Field (ANRE), at the beginning of June 2023, Romania had approximately 18,931 megawatts installed in power production capacities, out of which around 4,450 megawatts in wind and solar projects.

Recently, Europe’s Advisory Board on Climate Change recommended keeping the EU’s greenhouse gas emissions budget for the period 2030 to 2050 within 11-14 Gt CO2e, to limit global warming to 1.5°C. Their recommendation for the EU is to strive for net emissions reductions of 90-95% by 2040, relative to 1990 levels.

In this context, this regional high-level summit, slated for October 17-18, 2023, will bring together international experts, national government authorities, clean energy leaders, investors, business owners, technology developers across the entire energy value chain to explore new opportunities and challenges Romania faces in the new era of green power.