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Energy & Environment

Competition Council authorizes takeover of shares from National Uranium Company by Nuclearelectrica

Thursday, November 25, 2021

The Competition Council authorized the transaction by which Nuclearelectrica takes over from the National Uranium Company shares of the technical processing line of uranium concentrate of E Refinery Works – Feldioara branch, according to a press release.   The main activity of Nuclearelectrica is producing electric and thermal energy by nuclear procedures and producing nuclear fuel by using CANDU 6 ...

Romania, US discuss potential cooperation on offshore wind resources

Thursday, November 18, 2021

Romanian and American officials discussed on November 11, in Washington, about a possible bilateral collaboration for the installation of offshore wind farms in the Black Sea, in the broader context of the bilateral cooperation in the field of energy, with particular attention to the implementation of the Intergovernmental Agreement for cooperation on Romania’s nuclear power program signed last ...

Romanian gas producers to no longer be taxed based on Vienna price

Thursday, November 18, 2021

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   Romanian gas producers will no longer be taxed based on the reference price of the Vienna gas market, but the Romanian market price will be take into consideration, the Acting Minister of Energy, Virgil Popescu, declared on Wednesday, during the Focus Energetic conference."We have a complicated winter as a result of market turbulence. I am convinced that we will get through it fine, the stocks are within parameters. There are gas stocks ...

Oltenia Energy Complex expects restructuring plan to be approved by European Commission in January 2022

Thursday, November 18, 2021

The European Commission could approve the restructuring plan of the Oltenia Energy Complex in January 2022, after the company proves that there are investors interested in its development projects, the chairman of the Oltenia Energy Complex board, Daniel Burlan said on Wednesday."At the last analysis, the representatives of the European Commission appreciated the progress made by Romania and showed that only time separates us from a favorable decision. We ...

Crude oil imports increase by 4.3 pct in first nine months of 2021

Thursday, November 18, 2021

  Romania imported, in the first nine months of 2021, over 5.189 million tons oil equivalent (toe) of crude oil, by 212,400 toe (4.3 pct) more than the quantity imported in the similar period of 2020, according to data centralized by the National Institute for Statistics (INS).Crude oil production rose to nearly 2.34 million toe, being 4.4 pct (106,500 toe) lower compared to the production of the previous year.According to the ...

Restart Energy implements a solar project worth 360.000 euro for Avastar

Thursday, November 18, 2021

  Restart Energy, one of the largest independent energy suppliers for electric energy and gas on the local market, announces signing a contract worth 360.000 euros with Avastar company, for installing a photovoltaic project with a power of 570 kWp. The project involves 1.140 photovoltaic panels, covering 3.400 sqm, installed on the rooftop of Avastar slaughterhouse in Liteni, Suceava ...

OMV Petrom may announce EUR 10 bln investments by 2030

Thursday, November 18, 2021

OMV Petrom announces that, on December 7, 2021, the company will ...

Hidroelectrica’s profit doubles in Jan-Sep on higher output and price

Thursday, November 18, 2021

Romanian state-controlled hydropower group Hidroelectrica, in the process of diversifying its production base to include new renewable resources, reported a record net profit of RON 2.65 bln (over EUR 0.5 bln) in January-September this year, more than double (+103%) compared to the same period last year.   The company’s revenues increased by 70% YoY as the sales from own production expanded by more ...

Romgaz reports 22.7% higher net profit in Jan-Sep

Thursday, November 18, 2021

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In the first nine months of 2021, Romgaz Group announced that its revenues rose by 19.8% YoY to RON 3.50 bln. In Q3 alone, its consolidated revenue increased by 71.9% YoY.   The Group’s net profit increased slightly steeper, by 22.7% YoY to RON 1.156 bln. Consolidated net profit per share (EPS) was RON 3.0, 22.7% higher than the one recorded in the first nine ...

Core Value Capital plans 1GWh PV parks in Romania

Thursday, November 18, 2021

Austrian investment fund Core Value Capital envisages investing EUR 800 mln in Romanian photovoltaic projects with a total capacity of 1GW over the next seven years. However, in the meantime, it purchased two hectares in southern Bucharest, where it will develop a 550-apartment project, according ...

The independent gas producer Amromco files for insolvency

Thursday, November 18, 2021

Amromco Energy, for a long time the third-largest natural gas producer in Romania in terms of output after Romgaz and OMV Petrom, has officially filed for insolvency after it failed to amend or even suspend contracts signed in advance with its ...

The battle for gold in Rosia Montana: What Romania risks

Thursday, November 18, 2021

The World Bank Tribunal in Washington (ICSID) began deliberations in the case opened by the Canadian company Gabriel Resources against Romania, which has been going on for six years, ...

Energy consumption up 5.6pct in Jan-Sep

Thursday, November 18, 2021

Romania's national electricity consumption was 5.6pct higher in the first nine months of the year, compared to the same period last year, reaching 41.4 TWh, according to a statement from the National Institute of Statistics (INS).The consumption of the population increased the most, by 7.7pct, followed by the industrial consumption, with an increase of 5pct.In the same period, the production was 44.5 TWh, higher by 7.8pct. Production in ...

Electrica Group: Net profit down by RON 324 million January through September

Thursday, November 18, 2021

 Electrica Group obtained, in the first nine months of this year, a consolidated net profit of RON 72 million, down by 324 million lei compared to the RON 396 million recorded as profit in the same period of 2020, according to a press release issued by the company on Friday.The decrease was mainly generated by the significant increase in the costs of purchasing electricity, which climbed by 23.4 pct, to RON 3.423 billion, the source ...

Romania drops eight spots in the Climate Change Performance Index

Thursday, November 18, 2021

Romania ranks 38th in the Climate Change Performance Index (CCPI) 2022 published by Germanwatch, NewClimate Institute and the Climate Action Network. The country dropped eight spots from last year, when it ranked ...

Wind and PV energy producers in Romania concerned about windfall tax levied by Govt.

Thursday, November 18, 2021

The green energy associations in Romania, mainly owners of wind farms and PV parks, warned that the so-called windfall tax levied by the Government on surplus revenues derived by all energy producers - except for those burning fossil fuels - is not solving but rather deepening the energy crisis.   Under law 259/2021, the 80% tax levied on revenues generated from the sale of power by power generators ...

Econergy and Nofar join forces to develop biggest Romanian PV park

Thursday, November 18, 2021

International independent power producer (IPP) of utility-scale renewable energy projects Econergy and Nofar Energy, an international renewables company based in Israel with renewables projects in Israel, Spain, Italy, the United States, completed the acquisition of a ready-to-build 155MW photovoltaic (PV) Romania from Portland Trust. The 155MW project is planned to be the largest of this kind in ...

Hidroelectrica: In advanced-phase Bumbesti investment, we're asked to protect an alder, a fish and a never found crayfish

Thursday, November 11, 2021

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  The Bumbesti investment is in an extremely advanced phase, but there we have to protect a fish that has no economic importance, as well as a crayfish that has never been found, said Bogdan Badea, president of Hidroelectrica's directorate, on Wednesday."In Bumbesti we have resumed all procedures in accordance with the current legislation. We are in an extremely advanced phase. We have been submitting the documentation for more than two and a half ...

Chimcomplex to develop combined cycle power station in Valcea

Thursday, November 11, 2021

The chemical group Chimcomplex, which operates two platforms in Burzesti and Ramnicu Valcea, purchased some assets from the bankrupt heat and power producer CET Govora for EUR 8.2 mln and plans to develop a combined cycle power station on the site.   CET Govora is close to Ramnicu Valcea, where Chimcomplex owns the platform purchased from bankrupt Oltchim and delivers heating ...

Econergy acquires a ready-to-build 155MW solar photovoltaic (PV) project in Arges county

Thursday, November 11, 2021

Econergy, an investor, developer and operator in renewable energy projects across Europe, has announced the completion of an acquisition from Portland Trust of a ready-to-build 155MW solar photovoltaic (PV) project in Arges county, Romania with Nofar Energy.   The total investment in the R?te?ti solar project will be €100m and will see Econergy and Nofar Energy acquire a 50% stake each in the project from Portland ...

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