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Energy & Environment
Sanda Abrudan, about investments in new capacities from renewable sources
Thursday, June 15, 2023
Romania does not need a second wave of investments in new capacities from renewable sources, said Sanda Abrudan, Head of Energy & Resources, Vice President Advisory & Specialized Lending Corporate Investment Banking, within UniCredit Bank. Rather, “a continuous and sustainable flow of investment in the coming years” is needed. From this point of view, the period up to 2030 is ...
The European Green Deal: The Modernisation Fund invests EUR 2.4 billion to accelerate the green transition in seven EU countries, including Romania
Thursday, June 15, 2023
Last Thursday, 8 June, the European Union Modernisation Fund has allocated EUR 2.4 billion to 31 projects in seven beneficiary countries to help modernise their energy systems, reduce greenhouse gas emissions from energy, industry and transport and improve energy efficiency. This is the largest common payment to date and will boost Europe’s green transition. These investments help those Member States to reduce dependence on Russian fossil fuels, meet ...
Rompetrol opens two new integrated service centers on A1 Highway (Nadlac – Sibiu section)
Thursday, June 8, 2023
Rompetrol Downstream, the retail division of the KMG International Group in Romania, opened two new integrated service centers on A1 Highway (Nadlac - Sibiu section), near Giarmata in Timis County (km 500+596 left and right). The investment required for the construction of the two gas stations amounted 6.5 million USD. The two are part of a 12 gas stations package that Rompetrol will open on the A1 ...
Fitch confirmed Transgaz "BBB minus" rating with stable outlook
Thursday, June 8, 2023
Fitch Ratings has affirmed its long-term rating on Transgaz National Natural Gas Transmission Company at "BBB minus" with a stable outlook, the financial rating agency said in a statement. "The confirmation of the rating reflects Transgaz's strong business profile as concessionaire and operator of the gas transmission network in Romania, its ...
Eurowind Energy invests 50 million euros in the construction of a new solar PV park in Teius, Alba County
Thursday, June 8, 2023
The PV Park will generate approximately 102.05 GWh annually after becoming operational in 2024, with the capacity to power 30,050 households each year. Construction is scheduled for October 2023 and the project will be developed on 80 hectares of ...
Hidroelectrica S.A. announces intention to list on Bucharest Stock Exchange
Thursday, June 8, 2023
S.P.E.E.H. Hidroelectrica S.A. (“Hidroelectrica” or the “Company”), Romania’s leading electricity producer with a 100% renewable portfolio and one of the largest hydropower companies in Europe, announces the intention of Fondul Proprietatea S.A. (“Fondul”), an alternative investment fund managed by ...
Digitisation of the construction industry helps meet net building emissions targets
Thursday, June 8, 2023
The European Union aims to decarbonize the construction sector by 2050, and industry associations in the United States have set the same goal: achieving net zero emissions in the construction sector by 2050. One of the biggest challenges in reducing greenhouse gas emissions results from the low energy efficiency of existing buildings and still too low renovation rates in almost all EU Member States. ...
The contract for the construction and commissioning of the Mintia power plant has been signed
Thursday, June 1, 2023
The €673.5 million contract for the construction and commissioning of the 1,750 MW Mintia combined cycle power plant has been signed between AVAX Group and Mass Group Holding (MGH), Energy Minister Virgil Popescu announced on Tuesday. ‘We keep our promises ! A new important step was taken for the construction of the power plant in Mintia! The contract for the construction and ...
The Smart Energy Association: ‘Energy policies in Romania should not have unsure results”
Thursday, June 1, 2023
Programmes such as ‘Green House’ are necessary and welcome, but I think that at present the energy policies promoted should not be hazardous and at the mercy of luck, stated in a specialty conference, Dumitru Chisalita, the chairman of the Association Smart Energy.‘If we access the site of the ministry of environment we will see there are about twelve types of projects, some of them with the ...
€2 billion of renewable generation capacity schemes approved
Thursday, June 1, 2023
In the committee for investments were approved schemes of approximately two billion euro for new production capacities from renewable sources, announced on Thursday Dan Dragan, state secretary in the ministry of energy.‘ I can mention that, at present, in the investment committee there were approved schemes of almost two billion euro for new production capacities from renewable sources, which will be divided equally in four segments. There will be a ...
EnergMin Popescu: The national hydrogen strategy, action plan are important ministerial documents
Thursday, June 1, 2023
The National Hydrogen Strategy and the action plan for the implementation of the strategy in 2023-2030 are two important documents that were developed by us at the Ministry of Energy (ME), Energy Minister Virgil Popescu wrote on Wednesday on social media.The minister's announcement comes after ME released the first version of the National Hydrogen Strategy and the action plan for its implementation for public debate."The strategy and the action ...
ACUE's Daraban: Romania has a low degree of efficiency in the use of energy resources
Thursday, June 1, 2023
Romania has a low degree of efficiency in the use of energy resources, in a context in which one third of households are in energy poverty and about 77pct of the total area of buildings fund must be renovated by 2050, the Federation of Associations of Energy Utility Companies (ACUE) Executive Director Daniela Daraban told a specialist conference on Wednesday."We applied for the funding of this project last year, at the height of the energy crisis. The data ...
Takeover of Enel Romania by PPC to be completed in third quarter of 2023
Thursday, June 1, 2023
The transaction through which PPC Group takes over Enel's assets in Romania remains on schedule to be completed in the third quarter of the year, according to a company release.According to the same source, the acquisition is in line with PPC Group's energy transition strategy and its expansion plan in South-East Europe.Romania is a strategically important market for PPC, in terms of access to EU funding through the National Recovery and ...
EnergMin Popescu:Romania can act as important transit country for transporting Azerbaijan gas further to Europe
Thursday, June 1, 2023
BAKU, Azerbaijan, May 31. Romania can act as an important transit country for transport of gas volumes from Azerbaijan, Romania's Minister of Energy Virgil-Daniel Popescu said in an exclusive interview with Trend on the occasion of the Baku Energy Week. "Romania and the Republic of Azerbaijan ...
President Iohannis calls for review of law on electricity and gas market measures
Thursday, May 25, 2023
President Klaus Iohannis on Wednesday sent to Parliament for review legislation on measures applicable to end customers in the electricity and natural gas market between 1 April 2022 and 31 March 2023, as well as for amending and supplementing certain energy legislation. "We consider that some of the provisions newly introduced by the law approving GEO 153/2022 are likely to generate dysfunctions and imbalances in ...
NuScale Power joins Romanian Atomic Forum ROMATOM
Thursday, May 25, 2023
NuScale Power joined the Romanian Atomic Forum (ROMATOM) as a supporting member of the association's objectives for the development of nuclear energy projects and for the development of the future generation of experts, engineers and operators in advanced nuclear technology in Romania."This decision demonstrates NuScale's commitment to the development of clean nuclear energy with small modular reactor (SMR) technology in Romania and in the European region and ...
Romania, a pillar of stability through cable project connecting Caspian Zone to Europe
Thursday, May 25, 2023
The project of the cable that will connect the Caspian Zone to Europe shows that Romania is ready to prove that it is a pillar of stability in the area and sits at the table of important players in the energy sector, said, on Monday, George-Sergiu Niculescu, the chairman of the National Regulatory Authority in Energy (ANRE).According to the Agreement signed in Bucharest on December 17, 2022, the cable that will connect the Caspian Zone to Europe will cross Azerbaijan, ...
EnergMin: We wish to fully supply Rep. of Moldova with energy and natural gas from Romania
Thursday, May 25, 2023
Energy Minister Virgil Popescu said on Monday that Romania wishes to fully and completely supply the Republic of Moldova with energy and natural gas from Romania, and he mentioned the memorandum approved last week in the Government on strengthening energy cooperation with the neighbouring country,Asked about the energy relationship with the Republic of Moldova, Virgil Popescu stressed that "it is a priority for us, both in terms of natural gas and electricity ...
Romania wants to reach 10 GW renewable energy by 2027
Thursday, May 25, 2023
Romania wants to reach 10 GW of renewable energy by 2027, and in the next two to three years another 3 GW will be put into the grid, Energy Minister Virgil Popescu announced on Monday."In June we will complete the evaluation and signing of contracts for the almost 3 GW of renewable energy, solar and wind, through the PNRR, because there has been an oversubscription of projects. We have a lot of projects, in total almost 3 GW of renewable energy. This means that in the next ...
OMV Petrom gets 39 million EUR financing through PNRR for green hydrogen production at Petrobrazi
Thursday, May 25, 2023
OMV Petrom has signed with the Ministry of Energy a financing contract through the National Recovery and Resilience Plan (PNRR), with a maximum value of about 39 million EUR, for the construction of a hydrogen production facility through water electrolysis at the Petrobrazi refinery, the company informed on Monday.The total investment is estimated at around 74 million EUR."We believe that Romania has significant potential for the development of green energy ...