Romanian Nova Power & Gas announces EUR 1 billion investment program by 2029

Romanian electricity and natural gas producer and supplier Nova Power & Gas, part of the E-INFRA Group, said it would roll out a EUR 1 billion investment program to support a new stage of development focused on significantly expanding its residential and industrial customer portfolio.

The program, covering 2026 to 2029, is based on an integrated business model: the company generates electricity from gas-fired power plants and renewable energy sources, stores it, and supplies it to customers. This approach reduces its exposure to market fluctuations and enables it to develop more competitive offers, the company said.

Among the company's flagship projects is the development of the integrated energy platform in Câmpia Turzii, which brings together combined-cycle gas-fired power generation, renewable energy production, and large-scale energy storage in a single location. The next integrated energy site based on the same model will be developed in Roșiori, in Satu Mare county, near Romania's borders with Hungary and Ukraine.

"To ensure a reliable and affordable energy supply, we have developed the entire value chain, from generation and storage to supply. Our hybrid energy site concept gives us greater control over production and allows us to align generation with consumption patterns," Septimiu Costea, CEO of Nova Power & Gas, said.

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