In this period of energy transition, the business environment faces numerous challenges, but it also brings new development opportunities. Our company remains an industry leader and continues to strengthen its position as a producer of electrical equipment, while also becoming the preferred partner of investors and developers in energy infrastructure and clean energy. For 35 years, EnergoBit has been building a remarkable history of success. Our growth strategy in the local market, as well as our commitment to innovation in our products and services, are reflected in the message of Mr. Florin Pop, presented in today’s article in Ziarul Financiar.
♦ The waiting state that has gripped the large-scale renewable energy project market is a warning sign. ♦ Everyone is developing thousands and thousands of megawatts, but few are making the move towards execution, warns Florin Pop, the CEO of EnergoBit, one of the largest entrepreneurial companies active in the local energy sector. ♦ However, the area of investment in equipment production is an opportunity, and EnergoBit is channeling its investment budgets toward products made in Romania.
The EnergoBit group of companies, with EnergoBit SA as the largest, aims for a business turnover of 550 million lei this year, up from almost 488 million lei in 2023. However, this projected growth is more cautious compared to the 77% increase the group achieved in 2023 compared to 2022. EnergoBit has around 680 employees and offers various services, such as energy auditing and technical design, manufacturing of electrical equipment (medium and low voltage), general contracting, maintenance and operation. The company develops energy projects both domestically and internationally. It was founded in the 1990s by Ștefan Gadola, Peter Pal, and Ioan Socea.
“Today, there is considerable potential for the development of renewable energy in Romania. EnergoBit was among the companies that anticipated the ‘second wave of green energy’ and has been involved in numerous projects for the past three years, either as a technical expert or as a contractor/builder in energy infrastructure. A major challenge we are facing recently is the delay or postponement of the start of construction work for wind and photovoltaic power plants,” warns Florin Pop, EnergoBit’s CEO, in his responses for this year’s edition of ZF’s Top Players in the Economy.
According to the latest information provided by the National Regulatory Authority for Energy (ANRE), 501 MW of wind projects currently have establishment authorization, along with 2,283 MW in solar energy projects and 132 MW in hydro energy projects. These projects have a high degree of certainty regarding completion, as the establishment authorization is granted only after funding is guaranteed. Beyond these projects, there are approximately 10,000 MW of wind and solar projects with technical connection contracts. The issue is that, beyond authorizations, few move on to the execution phase. “We are inundated with requests from developers and investors in power plants that use renewable energy sources for contracting projects in various stages of implementation. However, there is still some reluctance to start actual execution. Organizing and preparing to launch a contract execution requires considerable effort on our part to secure guarantees and financial reserves, allocate the workforce, and procure the necessary materials and equipment to meet the implementation schedule,” Pop adds. He also mentions that the prices of materials and electrical equipment fluctuate due to the global market. “Procuring quality materials at competitive prices is essential for maintaining project budgets and controlling costs in our own factories.”
The workforce remains a challenge this year as well.
“The migration of the workforce to Western countries and the lack of adequate training in the electrical field limit the availability of competent personnel. Therefore, we decided to implement our own vocational training center at EnergoBit, where we train both our employees and market participants who wish to acquire advanced specialization in the electro-energy field.” Moving to the investment plans for EnergoBit, Florin Pop says the group focuses on the production of electrical equipment.
“Last year, we opened two new production units, and we plan to continue expanding our production facilities for our established equipment ranges, as well as for new products and innovative solutions. We are investing in the development of new electrical equipment as part of our strategy to diversify our portfolio of products manufactured in Romania.” Digital solutions and storage are development directions for EnergoBit.
“In the short and medium term, we aim to develop digital solutions for energy systems and solutions that support energy storage projects. All energy investments involve equipment and technologies that can be produced in our country; therefore, it is important to invest in production units for electrical equipment, which EnergoBit is already doing.” Overall, Pop is confident that Romania’s economy will perform well this year, although the start of the year has been rather modest.
“We believe that Romania’s medium- and long-term economic development prospects are positive due to European funds and strategic investments, as well as the continued process of economic convergence with the advanced economies of the EU, which should reduce economic and social disparities. Implementing economic and administrative reforms, including legislative stability, is essential to attract foreign investment and stimulate sustainable economic growth. At the same time, the unstable geopolitical context and the slowdown in global economic dynamics remain risk factors for Romania’s economy.”