Energy has become a matter of security, economic competitiveness and, ultimately, living standards because high energy prices affect companies, reduce investment and are reflected directly or indirectly in the costs borne by citizens, interim Prime Minister and interim Energy Minister Ilie Bolojan said on Thursday at the signing of the Memorandum of Understanding between the Government of Romania and the Government of the Republic of Serbia to facilitate the exchange of information regarding the Djerdap 3 pumped-storage hydropower plant project.

'Today we are opening discussions on a possible new project. The memorandum we signed today creates the necessary framework for an exchange of information regarding the Djerdap 3 pumped-storage hydropower plant project and to understand exactly what benefits it can bring, as well as what impact it may have. We need this approach because energy has become a matter of security, economic competitiveness and, ultimately, living standards. High energy prices affect companies, reduce investment and are reflected directly or indirectly in the costs borne by citizens,' the interim PM said.

According to him, Romania needs, at the same time, capacities which can balance the energy system when production varies.

'Pumped-storage power plants can play an important role in this equation. They can store energy when there is a surplus and make it available to the system when needed. In short, they can contribute to the stability of the grid and to more efficient use of the energy we produce,' Bolojan explained.

The interim PM believes that Djerdap 3 is a project that deserves to be analysed with full seriousness.

'For Romania, it is important that the development is compatible with the operation and production of energy of the Iron Gates I and II, to ensure the protection of river areas (...) and take into account the navigation on the Danube. Romania wants a closer cooperation with Serbia in the energy area. We are neighbours, we have joint infrastructure, we have common interests and we are confronted with many of the same challenges. It is natural to seek solutions together that increase the energy security and the competitiveness of our economies. I thank the minister and colleagues in Serbia for openness to dialogue and for cooperation. The experience of the Iron Gates show us that Romania and Serbia know how to work together on important energy projects,' Ilie Bolojan salso said.

In her turn, Serbia's Minister of Mining and Energy Dubravka Dedovic Handanovic thanked Romania for the support it has provided to Serbia throughout its European integration process, mentioning that, to date, the Romanian-Serbian technical committee has held 104 working sessions, with the most recent one in September 2025.

The Serbian minister said that the document which is to be signed today represents an important step forward in continuing cooperation, an essential pillar in ensuring energy security for citizens and for the economies of both countries. Minister Dubravka Dedovic Handanovic said that the project represents a strategic initiative that will place the region in a much more advantageous position on the Eastern European market and this hydropower plant will be able to integrate a larger renewable energy capacity, thus supporting the energy transition and the promotion of a cleaner energy sector. The Serbian official added that once built, Djerdap 3 will become the largest storage facility in this part of Europe, if not the largest in Europe. therefore, she expressed her satisfaction at being able to cooperate with Romania on this major cross-border project.

She mentioned that, during this year, Serbia will carry out a supply and technical planning for the feasibility study of this project.

The Minister of Mining and Energy from Belgrade added that Djerdap 3 or Iron Gates III, as we call it, is being developed in accordance with the Agreement between the Government of the Republic of Serbia and the Government of the United States of America on Strategic Cooperation in the Field of Energy, which entered into force in March 2025.

She said that a call for projects had already been launched in this regard for companies wishing to participate in the construction of the hydropower plant, with six companies having so far registered for the ongoing process.

Serbia's Minister of Mining and Energy mentioned the new cooperation initiative in the energy sector by signing the Memorandum of Understanding for the construction of the Serbia-Romania interconnector, with a capacity of at least 1.6 billion cubic metres per year. She also brought to mind the agreement between the national gas production companies of the two countries, mentioning the intention to complete, over the next ten months, a 31.6 km pipeline from Mokrin to the border with Romania, which will allow Serbia to connect to the BRUA gas corridor. AGERPRES (RO - writing by: Cristian Anghelache; EN - writing by: Rodica State)