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Energy & Environment
TeraPlast SA Receives Approx. 5.5 Million Lei Through PNRR For A New Photovoltaic Plant
Thursday, August 31, 2023
TeraPlast SA signed the financing contract for a financial support of approx. 5.5 million lei through the National Recovery and Resilience Plan (“PNRR: Funds for modern and reformed Romania”) for the development of a new photovoltaic plant in the Industrial Park of S?r??el. The non-refundable financing, approved according to the request, will cover about a quarter of the company’s total investment in this project, whose budget reaches ...
Simtel Team Becomes A Renewable Electricity Producer
Thursday, August 31, 2023
Simtel Team (BVB: SMTL), a Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange and a national leader in the field of renewable energy, announces the completion of the first phase of the photovoltaic park in Plesoiu, Olt County, which is part of the new business line developed by the company, namely electricity production. In the medium and long term, the Plesoiu project aims to produce and sell electricity from ...
Electrica Group turns to profit in H1 2023
Thursday, August 31, 2023
Electrica Group turned to profit in H1 2023, posting a net result of 106 million RON, compared to a loss of 176 million RON in the year-ago period, as per the company's consolidated results released on last Friday.The group's EBITDA increased by 535 million RON to 636 million RON in the reporting period, mainly due to the operational performance of the distribution segment, to the increase in energy revenues generated by the roughly 20 percent year-over-year ...
Chimcomplex implements stage 2 of project on high-efficiency, flexible gas-fired cogeneration plant
Thursday, August 31, 2023
Chimcomplex Borzesti has signed the financing contract and is in the process of implementing the second stage of the project "High-efficiency, flexible gas-fired cogeneration in the central heating sector of Ramnicu Valcea," according to a company press release issued Thursday to the Bucharest Stock Exchange (BVB).The project aims to build a high-efficiency cogeneration plant to serve the municipality of Ramnicu Valcea starting in 2026. The total value of ...
Orange Romania Group Purchases Long-Term Renewable Energy By Signing Its First VPPA Agreement With ENGIE Romania
Thursday, August 31, 2023
The companies part of the Orange Romania Group have signed with ENGIE Romania the first vPPA (virtual Power Purchase Agreement) contract, which consists in the virtual purchase of long-term renewable energy. The agreement underlines Orange’s commitment to reach the #NetZeroCarbon objective by 2040. Through this contract, signed for a period of 6 years, Orange in Romania will cover 30 GWh of its annual electricity needs with green energy from solar ...
Aon, UNIQA and Network One Distribution collaborate to promote green energy adoption
Thursday, August 24, 2023
Aon Romania, one of the leading insurance brokerage and risk management consulting firms and UNIQA, one of the most significant insurers engaged in sustainability actions, have partnered to offer comprehensive insurance solutions for renewable energy in ...
EPG suggests Romania to upwardly revise installed offshore wind power capacity
Thursday, August 24, 2023
The Energy Policy Group (EPG) association suggests an upward revision of Romania's target of installed offshore wind power capacity, namely 3 GW by year 2035, and considers that the bill on advanced offshore wind energy must take into account cross-border cooperation with Bulgaria for the development of new facilities.EPG also considers it beneficial that the development of offshore wind power is stimulated under a state aid support scheme of a CFD ...
EnergyMin, KHNP VP: Discussions on knowledge transfer in nuclear and hydropower
Thursday, August 24, 2023
Energy minister Sebastian Burduja had a meeting on Friday with Insik Park, Executive Vice President of Korea Hydro & Nuclear Power Company (KHNP), the main discussions regarding possibilities of cooperation, investment projects and knowledge transfer in the nuclear and hydropower field, says a statement from the Ministry of Energy sent on Friday.Korea Hydro & Nuclear Power Company has a long tradition in nuclear and hydropower, being the ...
Ukrenergo appeals to Poland, Romania for emergency assistance to stabilize power grid
Thursday, August 24, 2023
Ukrainian state energy company Ukrenergo reached out to Romania and Poland ...
Nuclearelectrica H1 net profit edges up 5.6%
Thursday, August 24, 2023
Nuclearelectrica, the operator of Romania's sole nuclear power plant (NPP) Cernavoda, said that its net profit rose 5.6% year-on-year to 1.289 billion lei ($285.2 million/261.2 million euro) in the first half of 2023. The company's operating profit edged down by 4.7% on the year to 1.627 billion lei in the first six months of 2023, Nuclearelectrica said in an interim financial statement filed with the ...
Domestic primary energy production increases 3.7% in H1, electricity consumption in economy drops 7.6%
Thursday, August 24, 2023
Domestic primary energy production increased 3.7% in the first six months of the year, compared to the same period in 2022, while imports fell 6.2%, the National Institute of Statistics (INS) reported on Monday.According to INS data, domestic production totaled 9.147 million toe, up 329,800 toe (+3.7%) compared to the period 1 January - 30 June 2022, while imports totaled 7.072 million toe, down 468,800 toe (-6.2%).In the period 1 January - 30 ...
Energy Ministry establishing working group to restructure, modernise CE Oltenia
Thursday, August 24, 2023
The Ministry of Energy is establishing a working group for the CE Oltenia electric utility that will identify solutions and collect data to help design a restructuring plan and an implementation schedule of measures needed for the upgrade of the utility.According to a ministry's social media post, the first working session is scheduled for next week."We don't just need a band aid; we need the reinvention of this traditional company. I have seen ...
Burduja: First wind farms in Romania’s Black Sea in 2027-2028
Thursday, August 17, 2023
The first wind farms in Romania’s part of the Black Sea are expected in 2027-2028, Minister of Energy Sebastian Burduja said, quoted by https://balkangreenenergynews.com/. The Romanian Ministry of Energy launched on July 17 a 30-day public consultation on a draft law on the requirements for the development and procurement of offshore wind energy projects. It has proposed to auction ...
Good operational results for Rompetrol Rafinare, in the first half of 2023
Thursday, August 17, 2023
Rompetrol Rafinare, member company of the KMG International Group, recorded, in the first semester of this year, good operational results, against the background of a higher degree of utilization of the Petromidia and Vega refineries, compared to the same period last year. Petromidia, the largest profile unit in Romania, directed to the domestic market two thirds of the total production obtained between ...
Transgaz applies for 554 mln euro in EU grants
Thursday, August 17, 2023
Transgaz [BSE:TGN] said on Friday that it has applied for EU grants in the amount of 554.3 million euro ($608.6 million) to align the country’s natural gas transmission system (NTS) to EU requirements and Green Deal decarbonisation standards. Transgaz has committed to the development of Romania’s gas transmission infrastructure through a plan that was revised and approved by the ...
Romgaz group presented a dropping net profit at 1.69 bilion lei, after the first half of the year
Thursday, August 17, 2023
The Romgaz group presented a net profit of 1.69 billion lei, after the first half of the year, dropping by 2.34% as compared to the similar period of last year, according to the financial results sent on Friday to BVB. The net profit consolidated on share (EPS) was 4.4 lei. Total revenue of the group dropped by 32.6% over the first six ...
Hidroelectrica, net profit of 3.95 billion RON in H1 2023, up 46 pct YOY
Thursday, August 17, 2023
Hydropower producer Hidroelectrica reported a net profit of 3.95 billion RON in the first half of this year, an increase of 46% compared to the same period last year, the company said in a press release.The company obtained revenues of 6.98 billion RON, up 42% compared to the same period last year.According to the financial report sent to the Bucharest Stock Exchange, the (net) energy produced and sold increased by 45% (10,625 GWh) in the ...
Transelectrica, net profit up almost six times in H1 2023 compared to H1 2022
Thursday, August 17, 2023
National Electricity Transmission Company (CNTEE) Transelectrica SA posted a net profit of RON 162 million, up almost six times compared to the same period last year, when it recorded RON 28 million, according to the half-yearly Report sent on Wednesday to the Bucharest Stock Exchange (BVB).Transelectrica SA's total operating revenue fell 16% compared to the same period last year, to RON 2.2 billion, in the context of a significant decrease in revenues from ...
Ministry of Energy: Alpiq's action against Romania was definitively rejected
Thursday, August 17, 2023
The Romanian state won at the international arbitral tribunal in Washington where Alpiq's action against Romania was definitively rejected, the stake being 450 million dollars, the Ministry of Energy announced on Wednesday."On August 11, 2023, an ad hoc committee appointed in accordance with the rules of the International Center for the Settlement of Investment Disputes in Washington (ICSID) issued the decision rejecting the action for annulment filed by ...
Gov't: Romania can trade 350 M tonnes of carbon dioxide equivalent until September
Thursday, August 17, 2023
On last Thursday, the government modified the normative act regarding the initiation and development of green investment schemes, through which Romania can trade a maximum of 350 million tonnes of carbon dioxide equivalent, until September 9 .According to a press release of the Government regarding the normative acts approved in Thursday's meeting, the deadline until which Romania can sell this volume of (AAUs) surplus of greenhouse gas emissions is ...