The Ministry of Energy and the Japanese company Itochu Corporation signed a Memorandum of Understanding for the development of the Tarnița-Lăpuștești hydropower plant, a project of strategic importance for balancing the national energy system.

The agreement was signed during the Romania-Japan Energy Forum, which takes place in Bucharest between November 4-5 and is organized by the Ministry of Energy, the Ministry of Economy, Trade and Industry of Japan and Wise Finance Solutions.

“Today’s forum is not only an exchange of ideas, but includes the assumption of concrete commitments. Through our partnerships, Romania assumes the role of regional leader in renewable and nuclear energy. Today we took a concrete step in the direction of a safer, more competitive and more sustainable Romania from an energy point of view. I am convinced that through this collaboration between the experience of the administration and the private environment in Japan and the opening of Romania and the opportunities that exist in our country, in the nearest future we will have remarkable results in the bilateral relationship through partnerships aimed at: pumped storage hydropower plants, storage in batteries , hydrogen and blue ammonia production, uranium production, carbon dioxide capture, etc. We are talking about investments of billions of euros that will create new jobs and ensure affordable energy prices and energy security for all Romanians”, said the Minister of Energy, Sebastian Burduja.

Romania presented a series of major projects, including units 3 and 4 at Cernavodă and the Small Modular Reactor (SMR) project at Doicești, inviting Japanese partners to contribute technology and know-how. Other areas with high potential for cooperation are district heating, hydrogen production and electricity generation from renewable sources.

The ministers and companies of the two countries also confirmed support for attracting Japanese investments to Romania and joint financing programs, especially in the field of high-tech.