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Energy & Environment
Nuclearelectrica, SACE and Ansaldo Nucleare sign MoU to refurbish Cernavoda Unit 1, develop two more
Thursday, February 22, 2024
Nuclearelectrica, Italy's Export Credit Agency - SACE and Ansaldo Nucleare signed on Thursday in Rome a Memorandum of Understanding to advance the development and financing of the refurbishment of the Cernavoda Nuclear Power Plant Unit 1, and of the strategic project for the plant's Units 3 and 4, Nuclearelectrica said in a release.The document was initialed in the presence of Romania's Minister of Economy, Entrepreneurship ...
Silcotub, 19.8 MW energy production project from renewable solar sources in Calarasi
Thursday, February 22, 2024
Silcotub started a solar project with a nominal power of 19.8 MW, respectively 21.2 MWp in Calarasi, worth almost 97 million lei (VAT included), according to a company release. From the total investment, the maximum non-refundable value is 29 million lei without VAT, and the own contribution amounts to approximately 68 million lei. The project implementation period is ...
Oil Dynamics grows its business in Romania
Thursday, February 22, 2024
Earlier this year, OMV Petrom and Oil Dynamics signed two additional ...
The companies in Romania pay the highest prices for energy in the EU
Thursday, February 15, 2024
The companies in Romania and Hungary pay the highest prices for energy in the EU, almost three times higher than the ones paid by the companies in Finland, shows an annual report regarding the single market and competitiveness, published on Wednesday by the European Commission, send DPA.According to the document, the prices for energy in the EU have increased significantly after the beginning of the Russian invasion in Ukraine, two years ago. The ...
Primary energy sources, down almost 3pct in 2023
Thursday, February 15, 2024
Romania's primary energy sources decreased by 2.9% in 2023, y-o-y, while final commercial electricity consumption was down 4.1%, according to the National Institute of Statistics (INS).Between January 1 and December 31, 2023, the main primary energy sources totalled 32.898 million tonnes of oil equivalent (toe), decreasing by 979,000 toe y-o-y.Domestic production amounted to 17.925 million toe, decreasing by 148,800 toe (-0.8%), y-o-y, and ...
Retele Electrice Companies attract new European financing, of over 433 million lei, for investments in networks in the 3 electricity distribution regions
Thursday, February 15, 2024
The companies will carry out 6 projects, worth about 558.3 million lei, of which European financing will cover about 433.7 million lei The works in Ilfov, Ialomita, Calarasi, Caras Severin, Arad and Hunedoara counties will serve about 35,000 customers The Ministry of Energy and the companies Retele Electrice Muntenia, Retele ...
Oil Terminal registers 14.3 million RON net profit in 2023, up by 23.2 pct
Thursday, February 15, 2024
Oil Terminal ended 2023 with a net profit of 14.293 million RON, a 23.2% increase compared to the previous year, according to the preliminary financial data submitted to the Bucharest Stock Exchange on Wednesday.The company's turnover increased by 15.6%, to 349.787 million RON, total revenues increased by 15.2%, to 355.985 million RON, and expenses by 14.8% to 339.425 million RON.Total assets increased by 25.1%. Long-term liabilities ...
KMG Rompetrol Development implementing EUR 2.2million eMobility project in Romania
Thursday, February 15, 2024
An eMobility project worth approximately EUR 2.2 million, co-financed by the European Union under the Connecting Europe Facility instrument - CEF Transport, is being implemented in Romania by KMG Rompetrol Development.The company reported on Wednesday that in November 2022 it submitted an application for financing a project on the acquisition and installation of ultra-fast charging stations for electric vehicles.They will be located within ...
Romania relaunches call for investment in battery storage for solar photovoltaic facilities
Thursday, February 15, 2024
The Ministry of Energy of Romania has reopened a competitive solicitation for battery storage for the grid integration of renewable energy, seeking “at least” 240MW and 480MWh of resources, ...
RWE and PPC to accelerate Greek energy transition by building solar projects with nearly 1 gigawatt capacity
Thursday, February 15, 2024
Investment decisions made for construction of one additional photovoltaic project with 450 MWp /432 MWac in Western Macedonia Start of construction expected the next months; commissioning in 2025 Total investment of €255.4 million planned, €127.7 million of which will be made available by RRF, and €76.6 million commercial debt on pro-rata ...
World Bank’s IFC launched the consultation for Romania’s offshore wind roadmap
Thursday, February 15, 2024
By 2036, Romania might have 3 GW in installed offshore wind capacity in the low growth scenario or 7 GW in the high growth scenario, according to the latest Romania’s offshore wind roadmap launched for consultation by the World Bank’s International Finance Corporation (IFC). One of the main findings of the report is that the levelized cost of energy (LCOE) starts at 72-93 euros per MWh in 2029 and reduces to 52-76 euros per MWh in 2035, according to the low ...
OMV Petrom has 1.5 billion lei for acquisition transactions in 2024
Thursday, February 15, 2024
OMV Petrom allocated this year 8 billion lei for investments, of which 1.5 billion lei for acquisitions, OMV Petrom’s financial director, Alina Popa, announced on Monday, during a specialized event. “We did not communicate the exact value of the transactions for ...
Green energy and carbon storage capacity give Romania unique chance to attract foreign investments
Thursday, February 8, 2024
Green energy and carbon storage capacity give Romania a unique chance to attract foreign investment or capital, including domestic, representing a competitive advantage with other economies in Europe and the world, the minister of Economy, Entrepreneurship and Tourism, Stefan-Radu Oprea, said last week."I will say first of all what I think will happen to Romania's economy, which is the target we have: a green economy, an economy with energy produced from ...
EU Commission warns Romania over landfill waste management
Thursday, February 8, 2024
Romania received a warning on Wednesday for failing to fully comply with the Landfill and Waste Framework Directives despite having already been fined by the European Court of Justice in December, euractiv.com informs. According to the Commission, Romania has successfully closed and rehabilitated 92 landfills and plans to address five more by 2026-2028. However, the situation for four others remains uncertain despite ...
OMV Petrom Ready To Drill For Gas In The Black Sea, It Is Hiring
Thursday, February 8, 2024
OMV Petrom, the operator of the Neptun Deep gas field in the Black Sea project, is prepared to kick off drilling and has started to train its team of specialists. The first well will be drilled next year, and actual production will begin in 2027. The deposits in this perimeter are estimated at 100 billion cubic meters, ten times more than Romania’s annual consumption. OMV Petrom has planned ...
OMV Petrom's earnings shrink on lower production, prices and solidarity contribution in 2023
Thursday, February 8, 2024
The net profit of Romanian energy group OMV Petrom (BVB: SNP) plunged by 61% y/y to RON 4 billion (EUR 804 million) in 2023 amid a combination of lower hydrocarbon and electricity production, lower utilization rate of the refinery and lower prices on the markets for power and petroleum products. Furthermore, the company's 2023 profit and loss statement includes the one-off element "solidarity ...
E.ON completed 161 PV projects for customers in 2023 – investments worth 30 mln. euro
Thursday, February 8, 2024
E.ON Energie Romania completed and delivered turnkey, last year, 161 photovoltaic power plants for 142 partner companies operating in various industrial branches, the total value of the projects amounting to almost 30 million euro, it is stated in a company release. The construction of the photovoltaic plants involved the installation of 74,230 photovoltaic modules on an area of 178,152 square meters, ...
Gas imports up 2 pct in first 11 months of 2023, production up 1.7 pct
Thursday, February 8, 2024
Romania imported, in the first 11 months of 2023, a quantity of usable natural gas of 1.995 million tonnes of oil equivalent (toe), 2% higher (+39,800) than in the same period last year, according to data centralized by the National Institute of Statistics (INS).Domestic production of natural gas in the period January-November 2023 exceeded 6.841 million toe, 1.7% higher than in the first 11 months of 2022 (+117,500 toe).According to ...
Photon Energy connects 3.8-MWp solar farm in Romania
Thursday, February 8, 2024
Amsterdam-based renewables developer Photon Energy NV (WSE:PEN) has grid-connected its tenth solar farm in Romania, powering up a facility with 3.8 MWp of capacity, https://renewablesnow.com/ ...
Burduja: NuScale has mature and secure technology
Thursday, February 8, 2024
The United States of America honors Romania’s competence in the energy sector, our country being recognized as a regional pillar of stability, energy security and economic development, says the Minister of Energy, Sebastian Burduja. He made a working visit to the USA, during which he had a series of meetings with American officials. “Tour of force in the United States. The stakes of the strategic ...