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Energy & Environment

GreenVolt takes over 45MW PV park in Romania for EUR 83 mln

Thursday, June 9, 2022

Portuguese group GreenVolt, a player in the field of renewable energy, reached an agreement with Samsung, through some of its subsidiaries, for the takeover of a 45 MW solar park in Giurgiu, evaluated at EUR 83 mln, according to a GreenVolt statement quoted ...

Romgaz’s strategic goal is to keep annual production decline below 2.5%

Thursday, June 9, 2022

Romgaz has completed an important investment objective in the Snagov priority onshore project, which consists of the development of an infrastructure containing technological installations for 11 wells, four groups of wells, collecting pipes, a drying station and a gas measuring panel.   According to a company statement, the Snagov project is included in the Development Strategy ...

Romania wants to abandon lignite and coal-based energy production by December 31, 2030

Thursday, June 2, 2022

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Romania has established that stopping production of electricity on lignite and coal until the 31st December 2030, by withdrawing from exploitation and the complete closing down of the energy capacities installed on lignite and coal base of 4,929 MW according to a draft of emergency ordnance regarding decarbonisation of the energy sector, published for debate by the ministry of energy.   In the energy sector, coal is ...

Transelectrica completes 60-M lei investment in strengthening national energy security

Thursday, June 2, 2022

The National Power Grid Company Transelectrica has completed the refurbishment process of the 220/110 kV Hasdat Transformation Power Station (Hunedoara County), an investment of more than 60 million lei, made from its own funds, according to a press release of the company sent on Tuesday.The works, started in 2018, have been carried out by the Siemens Energy Association - Tempos Serv, the association leader being Siemens Energy.The refurbishment ...

BSOG to begin offshore gas production in Romania's Black Sea on June 28

Thursday, June 2, 2022

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Black Sea Oil and Gas (BSOG) will kick off production at its shallow waters perimeter Midia, in Romania's Black Sea, on June 28, according to sources familiar with the event consulted ...

KREIF accesses 83 M euro syndicated loan to build new cogeneration plant at Petromidia

Thursday, June 2, 2022

The Kazakh-Romanian Energy Investment Fund (KREIF) has successfully concluded a syndicated loan totaling 83 million euros to finance the construction of the new cogeneration plant on the southeastern Petromidia platform.The estimated deadline for commissioning the cogeneration plant is the end of July 2023.According to a press release of the Fund, sent on Friday, the financing banks are Banca Comerciala Romana (BCR), as a mandated main arranger, ...

Romania may accelerate deepwater gas drilling as prices surge

Thursday, June 2, 2022

Romania may accelerate its first deepwater natural gas prospect amid a shortage of the fossil fuel in Europe, according to a partner in the Neptun Deep project, Bloomberg informs.   State-controlled Romgaz ...

President Iohannis promulgates offshore law

Thursday, May 26, 2022

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President Klaus Iohannis promulgated on Wednesday the normative act for amending and supplementing Law no. 256/2018 on some measures necessary for the implementation of oil operations by the holders of oil agreements regarding offshore oil perimeters, the Presidential Administration announced.The law was passed by the Chamber of Deputies last week, as a decision-making body.   According to the law, the Romanian ...

Romania to host first E2 center in Europe, with NuScale small modular reactor (SMR) simulator

Thursday, May 26, 2022

The first NuScale small modular reactor (SMR) simulator will be installed at Politehnica University of Bucharest to support the development of the workforce capacity of the next generation of experts, technicians and nuclear operators in Romania.The announcement was made during the "Small Modular and Advanced Reactors Workshop Planning IV" workshop, organized in Bucharest by the US Trade and Development Agency (USTDA), in partnership with the US Department of ...

Altex Group invests 2.3 mln euro in green energy projects for its ops

Thursday, May 26, 2022

Romania’s Altex Group announced on Tuesday it has invested over 2.3 million euro ($2.46 million) in renewable energy projects for its operations.   The funds were mainly used for the development of solar panels projects and for the purchase of energy efficient equipment for stores and logistics centres, Altex Group said in a press ...

11 companies from four countries show interest in purchasing Mintia power plant

Thursday, May 26, 2022

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As many as 11 companies from four countries have shown interest in purchasing the Mintia power plant, the electricity producer being to be put up for sale, through public auction, on July 15, at a price of 91.23 million euros."We have potential buyers, with whom we signed confidentiality agreements. There are 11 companies from Romania and abroad (Korea, Jordan, Canada, ed. n). Obviously that we will invite everyone and we will let them know about the auction ...

18,000 charging stations for electric cars, nationwide, until 2026, through PNRR

Thursday, May 26, 2022

 Prime Minister Nicolae Ciuca announced in western Cluj, on Friday, that a total of 18,000 charging stations for electric vehicles will be accomplished until 2026, through Romania's National Recovery and Resilience Plan (PNRR)."There is the National Recovery and Resilience Plan, there are funds allocated so that, nationwide, these charging stations to be installed, at least, at the moment, on the main routes, in order to support those that have electric cars. ...

Greenvolt pays Samsung EUR 83 mln for 45MWp PV park in Romania

Thursday, May 26, 2022

The Portuguese company Greenvolt - Energias Renováveis will acquire from the South Korean group Samsung a 45MWp photovoltaic park developed in the southern part of Romania in 2012, according ...

Energy from renewable sources: Commission urges Romania to transpose the Renewable Energy Directive

Thursday, May 26, 2022

*Energy from renewable sources: The Commission urges Croatia, the cirp, Germany, Greece, Hungary, Ireland, Luxembourg, Poland, Portugal and Romania to transpose the Renewable Energy Directive.   The Commission decided today, 19 May, to send reasoned opinions to Croatia, Cyprus, Germany , ...

Serbia wants to connect to BRUA by interconnector towards Romania

Thursday, May 26, 2022

Serbia, a country that buys natural gas from Russia at preferential prices due to its political ties with the regime in Moscow, now seeks to connect its gas transport grid with BRUA - a project essentially aimed at helping the countries in the region offset the dominance of the Russian gas.   Serbia's energy minister Zorana Mihajlovic visiting Romania, said on May 23 that her country would prepare the design and technical ...

The offshore law was adopted by the Chamber of Deputies

Thursday, May 19, 2022

The offshore law was adopted by the Chamber of Deputies, the decision-making chamber, by 249 votes “for” to 34 votes against. The law goes to promulgation by President Klaus Iohannis.   According to the draft adopted by the deputies, the Government will be able to impose temporary restrictions both on price and on sale for the domestic production of natural gas in ...

Rompetrol Rafinare’s results, in the first three months of 2022

Thursday, May 19, 2022

  Rompetrol Rafinare, a member company of the KMG International Group (Rompetrol), had a gross turnover of 1.17 billion USD in the first quarter of 2022, up 16% from the same period of last year. The increase was due to higher petroleum products quotations than in the first three months of 2021.   However, financial indicators, such as operational profit (EBITDA) and the net result, were ...

 Magnesium and graphite mines reopening process could begin in 2023

Thursday, May 19, 2022

The process of reopening the magnesium and graphite mines could start in 2023, with certain conditions regarding the quality of the graphite mines, Economy Minister Florin Spataru announced on Tuesday."We intend to finalise the approval of these normative acts by the end of the year, so that the actual investments can be made starting with 2023. For this we are discussing with the European Commission, to find the necessary resources through European funds for ...

Hidroelectrica's profit up 70% YoY in Q1, despite 30% lower output

Thursday, May 19, 2022

Hidroelectrica, the largest energy producer in Romania, announced a net profit of RON 1.29 bln (EUR 260 mln) in the first quarter, 70.2% higher compared to the same period last year.   The net profit margin exceeds 50%. Not even the 30% drop in output amid adverse natural conditions, could depress the earnings of the state-controlled hydropower group that heads towards a 15%-20% IPO at Bucharest Stock Exchange (BVB), under ...

Transgaz: Q1 net profit jumps 70% y/y

Thursday, May 19, 2022

Romanian gas transmission system operator Transgaz [BSE:TGN] said on Monday that its net profit jumped by an annual 70% on the year in the first quarter of 2022, to 268 million lei ($56 million/54 million euro).   Operating profit was 35% higher year-on-year at 243 million lei, while the operating revenue before the balancing and construction activity was flat on the year to 457 million lei in the first ...

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