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Energy & Environment

EIB and Transgaz sign agreement to develop decarbonisation strategy for Romania’s gas network

Thursday, May 19, 2022

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  The European Investment Bank (EIB) and Transgaz have signed an agreement for the provision of advisory services to prepare and develop a decarbonisation strategy for Romania’s gas network.   Transgaz is a key player in the Romanian energy system, securing the access to affordable and clean energy for Romanian citizens and ...

Electrica posts 157.8 ml RON loss in Q1 2022

Thursday, May 19, 2022

   Power supply and distribution company Electrica SA posted a loss of 157.8 million RON in Q1 2022, compared to 57.9 million RON worth of profit for the same period of the previous year, shows the Consolidated Report for Q1 2022 sent on Friday of the Bucharest Stock Exchange.The company reports revenues worth 2.6 billion RON, up 52 percent year-over-year, amid an increase of 818.3 million RON in the supply segment and an advance by 97.5 ...

Population starts saving electricity, consumption drops 4.4pct in Q1

Thursday, May 19, 2022

The population's electricity consumption in Romania dropped 4.4pct in January-March 2022 compared to the same period last year, according to data released on Friday by the National Institute of Statistics (INS).At the same time, industry consumption fell by 1.1pct, street lighting increased by 1.3pct, and overall national electricity consumption was 2pct lower in the first quarter.Production was also reduced by 5.7pct, reaching 14.8 TWh. ...

Enel takes over 300MW wind farm project in eastern Romania

Thursday, May 19, 2022

Enel Green Power Romania (EGPR), the local renewable energy generation division of the Italian utility group Enel, has taken over a 300 MW wind farm project located in Vaslui county, designed before the phasing off of subsidies for such projects but never developed.   The project, to be developed across several communes in Vaslui county, has a technical connection notice (ATR) issued by Transelectrica in ...

West Power Investments to build 1GWp PV park in Romania by end-2024

Thursday, May 19, 2022

West Power Investments, a company owned by businessman Emanuel Muntmark through its Monsson group - the largest developer of green energy projects in Romania, obtained the technical approval for connection to the grid for a solar park of 1,044 MWp, in Arad county.   This is 2.5 times larger than the 400 MWp park announced recently by Nofar Energy, a company listed on the Tel Aviv Stock Exchange, to be ...

Nuclearelectrica announces 3.5 times more net profit increase in Q1

Thursday, May 19, 2022

Nuclearelectrica (BVB: SNN), which operates Romania’s nuclear plant located at Cernavoda, announced that its net profit rose to RON 819 mln (EUR 162 mln) in Q1, 3.5 times more compared to the same period last year.   Total revenues increased by 165% YoY to RON 1.86 bln, mainly due to higher electricity prices in the last year - as the nuke power plant’s outcome is roughly flat. The revenues ...

Development Minister Attila approves over 14 million lei for purchase of natural gas

Thursday, May 19, 2022

Minister of Development, Public Works and Administration Cseke Attila approved the distribution to the local budgets of some administrative-territorial units of the 11th tranche, amounting to 14,435,675.96 lei, from the subsidy to offset the costs related to the acquisition of natural gas necessary for the production of thermal energy in a centralized system for the cold season 2021-2022.The amount is related to the subsidy for natural gas consumption from ...

Situation at Cupru Min Abrud, under analysis at the Ministry of Economy

Thursday, May 19, 2022

  Prime Minister Nicolae Ciuca declared on Thursday, in Alba Iulia, that the Ministry of Economy is analyzing the situation at Cupru Min Abrud, where the extracted raw material is exported, as there is no copper concentrate processing facility in Romania."Our country has significant mineral resources. Unfortunately, at the moment, the resources are being exported and we are losing what we all know and we are aware that it is the biggest benefit, ...

The Ministry of Energy launched in consultation the documents for the production of batteries and photovoltaic panels through PNRR

Thursday, May 12, 2022

The minister of energy has launched in consultation the documents for access to European Funds through the National Plan for Recovery and Resilience (PNRR) for the production of batteries, photovoltaic panels and storage capacities, announced on Facebook, the minister Virgil ...

Total costs for the restructuring of the Energy Complex Oltenia are up to 3.94 billion euro

Thursday, May 12, 2022

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The European Commission published the Decision which mentions the approved measures included in the State Aid for restructuring in favour of EC Oltenia and the Plan for Recovery belonging to it, decision which was officially announced on 26th January 2022. The total costs for restructuring of the EC Oltenia are up to 3.94 billion ...

Strategic investment in the Vega Ploiesti refinery

Thursday, May 12, 2022

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Rompetrol Rafinare, a member company of the KMG International Group (Rompetrol), recently completed a 4.2 million USD investment in the modernization of the Vacuum Distillation Plant (DV) within the Vega Ploiesti refinery, the company informs. The project will help to improve operational processes and will also have a positive impact in terms of increasing the protection of the ...

The American GIP fund buys WPD's offshore wind business in Romania

Thursday, May 12, 2022

US infrastructure investment fund Global Infrastructure Partners (GIP), with assets of around USD 81 bln, took over the offshore wind projects division of the German group WPD, including the projects in ...

EBRD: Firms to shift to renewables if Russia stops gas exports to Europe

Thursday, May 12, 2022

No Russian gas exports to the EU could slow growth in the EBRD regions by 2.3 per cent Short-term increase in energy prices would be the main brake on economic ...

Rompetrol turns into leading fuel supplier in Georgia

Thursday, May 12, 2022

The largest company in Georgia's fuel market is Rompetrol, with the share of the three largest companies amounting to 45%, according to agenda.ge quoting data from an annual 2021 report of the Georgian National Competition Agency,  ...

EnergyMin Popescu signed "Bulgaria-Romania Declaration of Support for Cross-Border Renewable Generation Deployment Project"

Thursday, May 12, 2022

The Minister of Energy, Virgil Popescu, and his Bulgarian counterpart, Alexander Nikolov, signed on Thursday the "Bulgaria-Romania Declaration of Support for the Cross-Border Renewable Generation Deployment Project.""Together with Minister Alexander Nikolov, I today signed the 'Bulgaria-Romania Declaration of Support for the Cross-Border Renewable Generation Deployment (BG-RO Cross-ReGen)' project. The document ...

Restart Energy implements a photovoltaic system project worth over EUR 500,000 for Cottontex

Thursday, May 12, 2022

Restart Energy, one of the largest independent electricity suppliers on the local market, announces the signing of a contract worth over 500,000 euros with Cottontex, for the installation of voltaic photo generators with a combined power of 700 kWp.   The project involves the installation of 1556 photovoltaic ...

Eaton has acquired Green Motion, a company that manufactures electric charging stations

Thursday, May 12, 2022

Eaton is growing through acquisitions and it recently acquired a company that produces electric charging stations — Green Motion, which will appear in the group’s portfolio starting next year. At the same time, Eaton promotes ‘building as a grid’ solutions where existing equipment can be used to deliver energy to the ...

PM Ciuca: Neptun Deep perimeter gas to be extracted no later than 2026

Thursday, May 5, 2022

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Prime Minister Nicolae Ciuca said on Tuesday, on the occasion of the signing of the assets takeover documents by Romgaz from Exxon for 50% of the Neptun Deep perimeter, that the gas will be extracted no later than 2026.According to him, the estimates give guarantees that there are large enough quantities to be able to supply gas to our neighbours, both in the region and in the European Union."It is the activity that has been prepared so that we can ...

OMV estimates Neptun Deep will require less than EUR 4 bln in production phase

Thursday, May 5, 2022

After the new Offshore Law comes into force, it will take between 9 and 12 months to make a final investment decision and another four years before starting gas production, Austrian group OMV's CEO Alfred Stern explained in an interview with APA news agency, speaking about the Neptun Deep offshore perimeter in Romania's Black Sea.   "The main issue is the tax regime for offshore oil and gas production in the Black Sea. This ...

The ministry of energy is working on the legislation which will allow the installation of wind turbines in the Black Sea

Thursday, May 5, 2022

The ministry of energy is working at present on the legislation which will allow the installation of wind turbines offshore, the target being that Romania becomes the first in this sector in the Black Sea, stated on Tuesday George Niculescu, state secretary in the ministry of energy, during an event which took place in Copenhagen.‘For the energy sector, we have in the National Plan for ...

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