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Energy & Environment
EBRD helps CE Oltenia finance decarbonisation plan
Thursday, October 28, 2021
The state company Complexul Energetic (CE) Oltenia, the largest producer of coal-based electricity in Romania, is preparing, with the support of the European Bank for Reconstruction and Development (EBRD), to contract a syndicated loan from several Romanian and European banks. The money will count as its own contribution to planned investments in new energy production capacity, part of its restructuring and decarbonisation plan that is still awaiting ...
Romgaz reports its Q3 gas output surged by 24.7% YoY
Thursday, October 28, 2021
Romanian state-controlled natural gas company Romgaz reported in a note to investors that its gross gas production increased by 24.7% YoY to 7.63 mln barrels oil equivalent (boe), which is the equivalent of some 1.16 bln cubic meters. In the first three quarters of the year, the gross gas production edged up by 15.9% YoY to 23.83 mln boe (some 3.62 bln cubic meters). In contrast, the electricity production ...
Eurostat: Extreme volatility in personal transport fuel and lubricant prices
Thursday, October 28, 2021
Over the last two decades, prices of fuel and lubricants for personal transport in the EU have been extremely volatile, with ...
Romgaz, ExxonMobil reach agreement on purchase of Neptun Deep project stake
Thursday, October 28, 2021
Romanian state-owned oil and gas company Romgaz has finalized exclusive negotiations to reach an agreement with ExxonMobil Exploration and Production Romania Holdings Ltd on the terms and conditions for the acquisition of the Neptun Deep project stake, so that the deal could be finalized in the first quarter of 2022, Romgaz said in a Tuesday release to the Bucharest Stock Exchange."SNGN Romgaz SA and ExxonMobil Exploration and Production Romania Holdings Ltd. have finalized ...
Simtel Team acquires over 80 hectares of land in Giurgiu to build a photovoltaic park
Thursday, October 28, 2021
Simtel Team (SMTL), a Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange, announces the acquisition of an industrial land of 837,866 sqm in Giurgiu. The company plans to develop a sizeable photovoltaic park with a total installed capacity between 40 and 60 MWp – MW and aims to enter the market for renewable energy production. Once the construction is completed, it will be among the most prominent photovoltaic parks in ...
Gas imports increase 56% in first eight months, and production increases 1.8%
Thursday, October 28, 2021
Romania imported, in the first eight months of 2021, a quantity of usable natural gas of 1.908 million tons of oil equivalent (toe), by 56% (684,600 toe) higher than in the same period in 2020, according to the data centralized by the National Institute of Statistics (INS).The domestic natural gas production was, in the mentioned period, of 4.832 million toe, being by 1.8% (87,100 toe) over the one from January-August 2020.The National Commission for Strategy ...
Petro Welt Technologies pulls out of Romania
Thursday, October 28, 2021
The Austrian provider of services and equipment for the oil industry Petro Welt Technologies (PeWeTe), which entered the local market in 2018, decided to pull out of Romania due to delays and obstacles caused by Covid ...
Transelectrica speeds up boosting Romania’s power import capacity
Thursday, October 28, 2021
Romania’s power transport system operator Transelectrica approved in July the investment plan aimed at increasing the transfer capacity of its interconnectors with neighbouring countries but recently decided to prioritise some of the projects in order to speed up the increase. The strategy is aimed at addressing the scarce investments in new production capacities. From 3,000MW at this moment, Romania’s import capacity is planned to reach 5,500MW in 2025 and ...
Iohannis: It would be excellent if EU money was in place for Romania's nuclear energy and gas plans
Thursday, October 28, 2021
President Klaus Iohannis declared on Friday in Brussels that it would be excellent if European money was in place for Romania's efforts to develop its nuclear power plants and natural gas grid."It's obvious that if we want to move towards a greener economy we need intermediate solutions. It is highly likely, and this is what we want, that renewable sources - solar energy, wind energy and so on - represent a considerable chunk of the country's energy output somewhere ...
GlobalData: Solar PV capacity to witness significant growth due to coal power phase out in Romania
Thursday, October 28, 2021
Romania has set a target of phasing out the coal-fired power by 2032. This step is expected to aid the development of renewable power sector, particularly solar PV in the country. Solar PV capacity in Romania is projected to triple during 2021-2030, growing substantially from 1.39 GW in 2020 to 4.25 GW in 2030, forecasts GlobalData, a leading data and analytics company. According to GlobalData’s report, ...
Moody's upgrades Transelectrica to investment grade, stable outlook
Thursday, October 28, 2021
Moody's Investors Service has, on October 19, assigned Baa3 long term issuer ...
Nuclearelectrica, the first Romanian company to join the World Economic Forum
Thursday, October 21, 2021
Romania's only nuclear energy producer, the National Company Nuclearelectrica SA (SNN), is the first Romanian company to join the World Economic Forum, SNN announced today in a statement to the Bucharest Stock Exchange.SNN will be a WEF member in two strategic areas, specifically the Platform for Shaping the Future of Energy, Materials and Infrastructure, and the Partnering Against Corruption Initiative, which support the company's strategic vision of ...
RO energy suppliers will be compensated for selling electricity, gas at capped prices
Thursday, October 21, 2021
The Romanian suppliers of electricity and natural gas will be compensated by the Government from a fund set up with this purpose for the losses incurred during delivering energy at capped prices - under a bill currently under debate in Parliament. Under the regulations, the suppliers will be compensated for the differential between the average wholesale energy (electricity, natural gas) price and the capped ...
Dentons: Renewable energy projects are crucial to the sustainable energy transition
Thursday, October 21, 2021
A speaker at BR’s recent Environmental & Sustainability Summit, Elena Vlasceanu, Counsel, Energy Practice, at Dentons, sat down with Business Review for an exclusive post-event interview about the legal framework for green & renewable projects in the energy sector. How big is the importance of green energy projects? Will we ever get to a green production of power (wind and solar) without using ...
Electrica pays EUR 35 mln for five PV parks with 31 MWp installed capacity
Thursday, October 21, 2021
BVB electricity supply and distribution group Electrica (EL) will buy five companies that own and operate photovoltaic power plants for EUR 35 mln (subject to adjustments). The sellers are two companies, MT Project and HiTech Solar Investment, which together own 100% of each of the five target ...
Power suppliers warn of chain negative effects of postponing bill payments or energy price capping
Thursday, October 21, 2021
Postponing bill payments or capping energy prices will trigger chain negative effects, and the adequate solutions are VAT cutting or VAT exemption for gas and energy, the Romanian Power Suppliers Association (AFEER) said in a release on Friday.AFEER has taken note of the set of measures announced by the European Commission for EU member states to apply in order to reign in the impact of the explosive rise in energy prices. It falls on the authorities in each ...
Four gas suppliers fined by ANRE for intention of increasing price during contract
Thursday, October 21, 2021
The National Regulatory Authority in Energy (ANRE) has fined four gas suppliers with the sum of 2.69 million RON for their intention of increasing tariffs during ongoing contracts with fixed prices, according to a press release sent by ANRE .As a result of complaints from clients regarding the notices received from suppliers in regard to their intention of increasing the price of natural gas, ANRE has taken verification actions. Upon their completion, ANRE ...
Energy prices: Commission presents a toolbox of measures to tackle exceptional situation and its impacts
Thursday, October 14, 2021
The Commission adopted today (October 13 – e.n.) a Communication on Energy Prices, to tackle the ...
President Iohannis agrees with energy price capping for this winter
Thursday, October 14, 2021
President Klaus Iohannis said on last Thursday, in southeastern Cernavoda, that he agrees with the capping of energy price for this winter."Yes, I agree with this measure, now, for this winter, but the decision is obvious elsewhere," Iohannis said.On Wednesday, the ousted Prime Minister Florin Citu said that the National Liberal Party and the Government support the capping of energy price in Romania, and a decision in this regard would be made in the ...
Romgaz expects to complete 430MW power plant at Iernut at the end of 2022
Thursday, October 14, 2021
Romanian state-controlled natural gas company Romgaz is analyzing the possibility of concluding a new contract with the consortium formed by Romelectro and Duro Felguera for the completion of the Iernut power plant (430MW), Romgaz's general manager, Aristotel Jude, told lawmakers on October 12. The plant could play a vital role in the decarbonization strategy, among others inked in the Recovery and ...