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Energy & Environment
OMV Petrom discovers new crude oil and natural gas resources in Romania
Thursday, June 15, 2023
OMV Petrom has discovered new crude oil and natural gas resources in the Oltenia and Muntenia regions of southern Romania, with the investment in the exploratory drilling campaign amounting to about 20 million euros, the company announced Tuesday.Cumulatively, the discoveries amount to more than 30 million boe of recoverable resources, equivalent to three quarters of OMV Petrom's production in 2022.According to the source, exploration drilling and testing of ...
Romania has completed process of joining NEST Framework, Act of Adhesion signed on Tuesday
Thursday, June 15, 2023
The Act of Adhesion to the NEST Framework Agreement was signed on Tuesday, in the context of the completion of Romania's accession process to Nuclear Energy Agency (NEA) Nuclear Education, Skills and Technology (NEST) Framework, Energy Minister Virgil Popescu announced on his Facebook page."Today I had a working meeting with William D. Magwood IV, Director-General of the Nuclear Energy Agency (NEA) of the Organisation for Economic Co-operation and Development (OECD). On ...
Gov't, Nuclearelectrica sign support agreement on units 3, 4 of Cernavoda plant project
Thursday, June 15, 2023
A support agreement regarding units 3 and 4 of the Cernavoda nuclear power plant (NPP) between the government of Romania and Nuclearelectrica was signed on Friday, with the document providing for effective ways of co-operation, commitments and obligations on the part of the government to secure the necessary funding measures for the project, the implementation and adoption of support measures, including legislative measures, according to Energy Minister Virgil ...
Home Affairs Ministry competent for control and investigation in management of fluorinated greenhouse gases
Thursday, June 15, 2023
According to a bill approved by the government on Thursday, the Home Affairs Ministry shall have control and investigation competences as regards the management of fluorinated greenhouse gases (F-gases).The regulatory act sets in place the institutional framework and measures for the implementation of the management of fluorinated greenhouse gases, "modifying and complementing the legal framework regarding the regime of this class of substances by: introducing a new ...
Energy minister Popescu: After June 25, we pay all dues to energy suppliers
Thursday, June 15, 2023
The money from the solidarity tax will come after June 25 and I think it is enough to pay all the dues to the energy suppliers, said the Energy minister, Virgil Popescu, on Thursday."(...) when the money from the solidarity tax comes, both Petrom and Romgaz cover more than that money difference. We come with a lack of money from last year (...) We pay the outstanding debts that we have, obviously. At our Ministry of Energy, it's one billion (RON) (...) I don't know at the ...
Transelectrica completed the integration tests of the storage facility for the balancing market
Thursday, June 15, 2023
Transelectrica announced on its official social media page that it has completed the integration tests of the storage facility with batteries in the Balancing Market platform and in the operative management system of the National Electroenergetic System (EMS – SCADA). Following the announcement, TEL shares listed on the Stock Exchange rose by 0.82%, at around 17.15, by 0.2 lei above the reference price. “The storage facility has been ...
The new change in legislation for authorising renewable energy projects needs further clarification
Thursday, June 15, 2023
The legislation for authorising the construction of renewable energy projects has undergone a new amendment, aimed at creating common authorisation conditions for projects built in and outside the urban area. However, the new provisions may create a contradictory legislative framework and do not provide developers and investors with much-needed legislative clarity in this priority area, according to an analysis by law firm PeliPartners. Law No 166/2023 ...
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 ...