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Energy & Environment
EC asks five states and Romania to correctly transpose directive on waste
Thursday, November 23, 2023
The European Commission decided on Thursday to initiate infringement proceedings by sending formal letters of formal notice to Romania, Bulgaria, Cyprus, the Czech Republic, Estonia and Austria aimed at remedying deficiencies in the transposition of Directive 2008/98/EC on waste, as amended by Directive (EU) 2018/851/EU, according to a statement issued by the EU executive.The amended directive sets legally binding targets for recycling and preparing for ...
Reveal Marketing and Efficient Romania: 70% of Romanians want to reduce energy waste
Thursday, November 23, 2023
Reveal Marketing Research carried out for Efficient Romania a nationally representative study among urban residents, to find out if and what solutions Romanians have identified and implemented to make energy consumption more efficient compared to the previous year, in the context in which we are witnessing a significant increase in utility prices. In Romanians’ perception, energy ...
ProCredit finances nextE with 3.15 million euros for a 7.4 MWp photovoltaic plant
Thursday, November 23, 2023
ProCredit Bank Romania has successfully completed the granting of financing in the amount of 3.15 million euros to the nextE Group, as part of an innovative project on the renewable energy market. With the completion of this agreement, ProCredit Bank initiates the financing of EaaS (Energy as a Service) projects of particular importance for the business environment in Romania. The project has agreed to a PPA (Power Purchase Agreement) for 25 years, of the corporate ...
Restart Energy has implemented two photovoltaic panel systems for the company Moldova Farming
Thursday, November 23, 2023
Restart Energy, a leading company in energy transition services, has completed the construction and installation of two photovoltaic power generation systems for Moldova Farming SRL, with a total investment of approximately 300.000 euros. The projects have a combined capacity of 403.2 kWp and were installed on two buildings belonging to the beneficiary, located in ...
Virgil Popescu: Romania can become a natural gas hub, after Black Sea gas production starts
Thursday, November 23, 2023
All conditions will be in place for Romania to become a natural gas hub once production in the Black Sea starts, Chairman of the Chamber of Deputies Committee on the Environment and Ecological Balance Virgil Popescu, a former energy minister, said on Monday."All conditions will be in place for Romania to become a natural gas hub and I am convinced that we will manage to be a natural gas hub once production in the Black Sea starts," Popescu told the Natural ...
Romania's crude oil production declines 4pct nine months into 2023 as imports decrease by 11.8pct
Thursday, November 23, 2023
In the first nine months of 2023, Romania produced 2.103 million tons of oil equivalent (toe) of crude oil, 87,100 toe less (-4%) y-o-y, according to data published by the National Institute of Statistics (INS).In the January-September 2023 period, crude oil imports rose to 5.705 million toe, being 763,300 toe (-11.8%) below those recorded in the first nine months of 2022.According to the latest energy balance forecasts published by the ...
EY Study: Offshore wind reaches crossroads, as spiraling costs and supply chain issues force developers to reassess projects
Thursday, November 23, 2023
Turbulent times in the offshore wind sector could change the way large-scale energy projects are built and funded in the future, according to the ...
Hidroelectrica's net profit up by 42 pct in the first nine months of 2023
Thursday, November 16, 2023
Hidroelectrica Group recorded a net profit of RON 5.184 billion in the first nine months of 2023, up 42% from RON 3.648 billion in the same period last year, shows data submitted to the Bucharest Stock Exchange (BVB).The energy produced and sold (net) increased by 38% to 14,101 GWh, with net production by 22% higher in the third quarter of 2023, year-over-year."Considering the 38% surplus production compared to the same period of the previous ...
SNTGN Transgaz, net profit 86% lower, at 9 months
Thursday, November 16, 2023
SNTGN Transgaz closed the first three quarters of 2023 with a net profit of 37.464 million RON, down 86% compared to the same period last year, when it reported 273.559 million RON, according to the financial results submitted to the Bucharest Stock Exchange (BVB)."Compared to the achievements on September 30, 2022, the gross profit achieved on September 30, 2023 is lower by 84%, respectively by 279,211 thousand RON, and the net profit is lower by 86%, ...
Rompetrol Rafinare results, in the first 9 months of 2023
Thursday, November 16, 2023
Rompetrol Rafinare, member company of the KMG International Group, achieved good operational results in the first 9 months of 2023, with over 3.8 million tons of raw materials processed in the Petromidia refinery. The largest profile unit in Romania continued to be a pillar of energy stability, by directing 66% of the total 2.9 million tons of fuels produced (petrol, diesel and jet A1) to ...
Corinth supplying pipes for Black Sea Neptun Deep gas export line
Thursday, November 16, 2023
Corinth Pipeworks, as subcontractor to Sumitomo Corp Europe, will fabricate about 160 km of longitudinally submerged arc-welded steel pipes (LSAW) for the offshore pipeline for OMV Petrom’s Neptun Deep gas project in the Black Sea, ...
Transelectrica profits down 51 pct in first 9 months of 2023
Thursday, November 16, 2023
National Power Grid Company Transelectrica recorded a net profit of 207 million RON in the first nine months of this year, 51% lower than in the same period in 2022, according to financial data sent to the Bucharest Stock Exchange (BVB) on Tuesday.Total operating expenses (including amortization) decreased by 30% in the January-September 2023 period to 3.078 billion RON, from 4.388 billion RON, year-over-year.There was a 14% decrease in ...
Romania's national electricity consumption down by 6.7% nine months into 2023
Thursday, November 16, 2023
Romania's national electricity consumption decreased by 6.7% in the first nine months of the year, compared to the similar period of 2022, totaling 36.529 billion kWh, according to data published on Tuesday by the National Institute of Statistics.Electricity consumption in the economy was 27.775 billion kWh, lower by 5.2%, while the population used 10.9% less electricity, respectively 8.448 billion kWh.At the same time, public lighting registered ...
Romgaz,10-year anniversary of its listing on the Bucharest Stock Exchange
Thursday, November 16, 2023
Romgaz celebrates the 10-year anniversary of its listing on the Bucharest Stock Exchange, under the ticker symbol SNG From the initial public offering in 2013 to the end of October 2023, the company's capitalization increased by 52% In the same period, investors made over 549 thousand ...
Romania has not yet approved National Energy Strategy defining objectives of natural gas sector
Thursday, November 16, 2023
Romania has not yet approved a National Energy Strategy (SEN), which defines the medium and long term objectives of the natural gas sector and the ways to achieve them, in order to ensure the sustainable development of the national economy, informs a performance audit on the implementation of strategies and policies in the field of natural gas investment and production, conducted between February 2022 and May 2023, by the Court of Accounts.During the audit ...
E-Distributie Muntenia was renamed Retele Electrice Muntenia
Thursday, November 16, 2023
Retele Electrice Muntenia (part of the PPC group, previously named E-Distributie Muntenia) is the new name of the company that manages the electricity distribution networks in Bucharest and in the counties of Ilfov and Giurgiu. The name change of the distribution operator comes after PPC recently completed the acquisition of Enel's operations in Romania. ...
Romania to turn 17 coal mines into gravity energy storage systems
Thursday, November 16, 2023
Romania agreed with Australia-based Green Gravity to examine the possibility of installing gravity energy storage technology in 17 mine shafts in the country’s coal hub in the Jiu Valley, https://balkangreenenergynews.com/ informs. Romania aims to quit coal by ...
IAEA Mission Says Romania is Committed to a High Level of Nuclear and Radiation Safety, Sees Areas for Further Enhancement
Thursday, November 16, 2023
An International Atomic Energy Agency (IAEA) team of experts said Romania is committed to maintaining and strengthening its regulatory framework for nuclear and radiation safety, https://www.iaea.org/ informs. The team commended the Romanian authorities for their effective preparations for the future deployment of small modular ...
National Hydrogen Strategy, launched in debate
Thursday, November 9, 2023
The Ministry of Energy launched into debate the project on the "National Hydrogen Strategy", in which four general objectives and 23 specific objectives are defined, as well as an action plan for 2030."The vision of the National Hydrogen Strategy (SNH) and the Action Plan for Romania aim to develop a hydrogen economy, with an emphasis on renewable hydrogen, but also paying attention to hydrogen with a reduced carbon footprint, at an affordable price, in the ...
Fitch affirms Nuclearelectrica's rating at 'BBB-' outlook stable
Thursday, November 9, 2023
Fitch Ratings on Tuesday affirmed Romania's nuclear power generation company Nuclearelectrica's Long-Term Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook.The affirmation reflects Nuclearelectrica's strong market position as the sole producer of electricity from low-cost nuclear power plants in Romania, its solid position in the merit order and low net leverage at least until 2025. This underpins its Standalone Credit Profile (SCP) at 'bbb-' and the Stable ...