The Romanian government has approved the setting up of an integrated electricity holding company and investments of $48 billion in the energy sector as part of an energy strategy for the country, according to Reuters.
The state will have up to a 40% share in the company and 20% will belong to investment fund Fondul Proprietatea, which was set up to compensate Romanians whose properties were seized under Communism. The rest of the shares will be gradually listed on the Bucharest Stock Exchange.
Such a company in the future will be a private company, Romanian finance and economy minister Varujan Vosganian said.
The government’s strategy is aimed at doubling the country’s power output to around 100TWh by 2020, more than the estimated domestic consumption, by increasing efficiency, continuing the restructuring process, seeking private partnerships, boosting renewable energy, diversifying import sources and transport routes.