Romania - the renewable powerhouse Europe needs?
Renewable energy is forecasted to become one of the main FDI drivers for Romania over the next decade.
Romania’s renewable energy target of 38% renewable consumption by 2020 has meant that to achieve this goal and meet required standards for renewable energy, Romania has drafted a renewable energy law, Law no. 220/2008, which was passed by Parliament in October 2008 with enforcement expected to come into effect within the next few months. The long time lag of approximately 3 years between drafting this legislative framework and enforcement of the law itself under the requirements and approval of the EC has meant a stalling of vigorous foreign investments. However, once this final hurdle is overcome, it is estimated that investments could reach around €7-10 billion in the next decade, according to projections made by the French Embassy in Bucharest (Ziarul Financiar, 13 Apr 2011).
Obstacles remain, but new events suggest that the nation of 22 million, long powered by coal and large-scale hydroelectric plants, is finally ready to start fulfilling its widely recognised clean energy potential. (RenewableEnergyWorld.com, 5 Oct 2010)
Romania has the potential to become the home of major energy projects, involving both conventional energy and renewable energy, but the lack of concrete high-level decisions on restructuring, as well as on legislation, is delaying the materialisation of these plans and sometimes scares investors away. (Ziarul Financiar, 7 Apr 2011)
Join us for a BRCC CityLink panel discussion and networking event on the present and future of Romania's renewable energy industry, its prospects for growth and its ability to become one of the main FDI drivers over the next decade.
Joining our panel is:
Ciprian Bolos - Founding Partner of Carpathia Power, a renewable energy project in Romania. As an entrepreneur and business consultant, Ciprian has expertise in business start-ups, business development and turnarounds. He will also be our moderator for the evening.
Dana Denis-Smith - Managing Director of Marker Global, the London-based emerging markets risk advisory firm. Ms Denis-Smith started her career as a journalist, working for The Economist Group among others, before qualifying in English law and joining Linklaters in London. Dana holds a BSc in International History and an MSc in Political economy from the London School of Economics. She is a member of the Institute of Directors and the Law Society of England & Wales. In 2010 Dana was included on the Management Today list of “35 Women under 35” to lead and inspire in business.
Roxana Simon - Associate Banker, Power & Energy Utilities, EBRD is actively involved in the approval process and closing of transactions in gas and electricity sector, playing an important role in the project preparation and due diligence. Prior to her current role, Roxana used to work for Osprey Partners as an M&A Analyst.
Ingrid Weston – Manager, Renewables | Energy Team, SMBC Europe is involved in arranging renewable energy and PPP/PFI projects in Europe and Middle East. Ingrid joined SMBC Europe in September 2008 from CIFG, where she was responsible for sourcing, analyzing and arranging European PPP and Public Finance transactions. Previously, Ingrid worked as an Associate Director Standard & Poor’s, in their Risk Solutions division for over 4 years focusing on credit rating analysis for project finance transactions and assisting banks in the implementation of internal ratings methodologies for project and asset finance.
Date/ Place: WEDNESDAY 22 JUNE 2011, 18:30 – 20:00, RCI, 1 Belgrave Square, London SW1
There is no fee payable for this event and attendance is on a first come, first served basis and limited, so please book asap.
To register, please contact Nicole Ion at nion@brcconline.eu no later than 20th June 2011.
This event is organised with the support of the Romanian Embassy in London
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