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Energy & Environment

Electricity distribution and supply group Electrica posts losses in 2021

Thursday, March 3, 2022

Energy company Electrica (BVB: EL), one of the largest electricity distribution and supply companies in Romania, reported for the year 2021 an unaudited consolidated loss of RON 552 mln (EUR 110 mln) compared to a profit of RON 387 mln achieved in 2020, according to the report sent to the Stock Exchange (BVB).   The company has a market capitalisation of RON 3.46 bln (EUR 700 mln) after the price of its ...

Romgaz boasts 52% stronger earnings in 2021

Thursday, March 3, 2022

Romanian state-controlled gas company Romgaz (BVB: SNG) posted a strong RON 1.90 bln (EUR 380 mln) net profit in 2021, 52% stronger compared to 2021 and 74% higher than 2019, according to the preliminary financial results released by the company.   The company’s market capitalisation is RON 14.7 bln (EUR 3 bln) after the price of its shares rose by 3.11% on the day the 2021 FY results were ...

Transgaz, net consolidated profit of over 166 million RON in 2021

Thursday, March 3, 2022

 The National Company for Natural Gas Transmission Transgaz has recorded last year a net profit of 166.938 million RON, by 1.03% more than the previous year, according to consolidated interim results sent on Friday to the Bucharest Stock Exchange.Compared to the profit accomplished in 2020, the preliminary consolidated gross profit was higher by 16%, namely by 32.372 million RON, clocking in at 231.924 million RON.Incomes from the internal ...

Companies in Romania can access up to a maximum of EUR 30 M for investments in solar and wind energy

Thursday, March 3, 2022

The Ministry of Energy has announced the immediate availability of a funding package totalling approximately €600 million of non-reimbursable funds in the field of renewable energy, aimed at SMEs, large companies and start-ups alike, facilitating investments in the development of “green” solutions for companies operating in Romania, for projects where up to €15 million of funds can be accessed per eligible beneficiary or up to €30 ...

Gastrade announces that it submitted to RAE an application for a new Independent Natural Gas System (INGS) license

Thursday, March 3, 2022

Gastrade announces that it submitted to the Regulatory Authority for Energy of Greece (RAE) an application for a new Independent Natural Gas System (INGS) license. The new project, “Thrace INGS”, will consist of a Floating Storage & Regasification Unit and will be developed at the Sea of Thrace, offshore Alexandroupolis.   The FSRU will have a storage capacity of 170,000 cbm of LNG and ...

Rompetrol Rafinare’s financial results in 2021

Thursday, March 3, 2022

Rompetrol Rafinare, a member company of the KMG International Group, managed to improve its financial indicators in 2021, amid a sales volume similar to the previous year, but also as a result of higher market quotations compared to similar periods from 2020.   However, the company's consolidated results were impacted by the shutdown of operational processes, caused by the technical incident that occurred ...

PM Ciuca: Government close to finishing support measures in Energy sector

Thursday, February 24, 2022

The Government is close to finishing measures for protecting the population and the economy from the price evolution of electricity and gas, following that they will be announced on Thursday, after a new meeting of the inter-ministerial committee for energy, Prime Minister Nicolae Ciuca said on Wednesday, before the beginning of the gov't sitting."We are close to finishing the package of measures at the level of the Government in order to ...

The ambassadors of France, Germany, Italy and the UK are asking  the government to compensate the energy suppliers who compensated the bills

Thursday, February 24, 2022

The ambassadors of France, Germany, Italy and the UK are asking the government the compensation of the energy suppliers who compensated the bills, says G4Media. The ambassadors consider, in a letter sent to the minister of economy Virgil Popescu and premier Nicolae Ciuca the fact that the big suppliers E.ON, ENEL, ENGIE and Macquarie Asset Management (CEZ) manifested the preoccupation with regard to the fact that the biggest part of the financial ...

Warning from the energy suppliers: We can no longer do social protection instead of the state

Thursday, February 24, 2022

The members of the Association of Energy Suppliers of Romania – AFEER express their concern that not even now, almost four months after the adoption of the legislation and the issuance of the first compensated bills, they have not received back the money spent on capping and offsetting electricity and gas prices. Moreover, the new Joint Order of the Ministers of Labor, Energy and Finance on the settlement of invoices unjustifiably extends the deadline for ...

The Oltenia energy complex  presented projects for another 470 million euro from the Modernisation Fund

Thursday, February 24, 2022

The Oltenia energy complex lodged projects for drawing a sum of 470 million euro from the Modernisation Fund to make photovoltaic units, wrote, on Friday, on Facebook, the minister of energy, Virgil Popescu.‘We lodged new projects for investments with financing from the Modernisation Fund. It is about eight projects with energy production from renewable resources (photovoltaic panels – Rovinari, ...

Regulatory stability provided, EDPR might invest more in the Romanian renewable market

Thursday, February 24, 2022

EDP Group could invest and contribute to increasing the generation capacity in Romania, to reduce its imports of energy, said CEO Miguel Stillwell de Andrade, answering a question from Energynomics, in the press conference for presenting the 2021 results. However, the recent changes in the legislation in Romania “are not positive for the investment environment in Romania”, he warned.   Since 2009, the ...

Verbund, Axpo sign wind PPA with carmaker in Romania

Thursday, February 24, 2022

Austrian power producer Verbund AG [VIE:VER] will be supplying wind power to an unnamed automotive company in Romania under a corporate power purchase agreement (PPA) facilitated by Swiss energy trader Axpo Holding AG.   According to Axpo, this is the first long-term corporate PPA for renewable energies with an industrial company in Romania. Under its terms, the automotive supplier will buy 70 GWh of electricity from ...

Transelectrica and EIB to work together to accelerate investment in Romania

Thursday, February 24, 2022

Transelectrica and the European Investment Bank (EIB) will intensify their cooperation in order to consolidate and speed up investments in the Romanian electricity network, according to a press release sent on Wednesday.The technical consultancy, whose role is to facilitate and streamline energy investment processes, was agreed on Wednesday in Bucharest by Gabriel Andronache, President of Transelectrica, Florin Tataru, member of Transelectrica Board, and Christian ...

New solar and gas power plants at Oltenia Energy Complex, hope for energy sector

Thursday, February 24, 2022

The new projects being prepared by the Oltenia Energy Complex (CEO) represent the light at the end of the tunnel in the Romanian energy production sector, where nothing has been done for a long time, Sorin Elisei, senior manager with Deloitte Romania, told a relevant conference."I think the Oltenia projects and the fact that the restructuring plan has been approved are, as far as I am concerned, the light at the end of the tunnel, in a sector where things have ...

Transelectrica had last year losses of 6 million lei, from a net profit of 145 million lei in 2020

Thursday, February 17, 2022

The national transporter for energy Transelectrica reported last year losses of 6 million lei, from a net profit of 145 million lei in 2020.Total net revenue in 2021 with 12% at 1.345 billion lei.The investments made by the company in 2021 were 466 million lei.  ‘The total operational income made between January and December 2021 had a growth of 58% as compared to the same period of the ...

Transgaz finalised the environment evaluation for the Development plan of the national transport  system for natural gas  2021 - 2030  

Thursday, February 17, 2022

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The National Society for Natural Gas Transport Transgaz finalised the procedure for environment evaluation for the Plan for Development of the natural gas transport system 2021 – 2030, according to a press release, sent on Friday to the Stock Exchange Bucarest.Similarly, according to the quoted source, the ministry of environment, waters and forests issued the environmental ...

WPD sketches plans for 1.9GW offshore farms in Romania's Black Sea

Thursday, February 17, 2022

German group WPD, specialising in the development and commissioning of renewable energy projects, has initiated the steps for constructing the first two wind farms in the Black Sea. The cumulative size of the two wind farms is 1,900 MW.The Romanian onshore wind farms now have a combined capacity of 3,000 MW.   "At the end of July last year, wpd offshore became the first company in Romania to officially apply for the ...

ENEL X installs two photovoltaic power plants for Eaton factories in Romania

Thursday, February 17, 2022

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Enel X Romania, part of Enel X, the advanced energy services division of the Enel Group, is building two photovoltaic power plants with a total installed capacity of about 850 kWp for the producer of electrical panels and metal structures Eaton Electro Production.   The project involves the turnkey installation of two photovoltaic systems that integrate over 1,800 high-efficiency photovoltaic panels, ...

PM Ciuca: Making Cernavoda reactors 3, 4 operational, as well as small modular reactors - medium and long-term measures

Thursday, February 17, 2022

Prime Minsiter Nicolae Ciuca stated on Monday, in the context of the visit conducted to Cernavoda, that the Government offered guarantees regarding the continuation of the projects to make reactors 3 and 4 operational, as well as the small modular reactors, but that these are measures for the medium and long term."I was with the Minister of Energy, with the Minister of Agriculture to two very important objectives - the Nuclear Plant in Cernavoda, where, together ...

Oil Terminal records net profit worth 5.7 million RON in 2021, up by 55.3 pct

Thursday, February 17, 2022

Oil Terminal closed out 2021 with a net profit of 5.753 million RON, by 55.3% higher than in the previous year, according to the preliminary data sent to the Bucharest Stock Exchange (BVB).The gross profit increased by 46.2% to 7.815 million RON, and the turnover increased by 10.8%, to 212.313 million RON. Incomes totaled last year 214.099 million RON (plus 10.4%) and expenses 206.284 million RON (plus 9.4%).On December 31, 2021, Oil Terminal recorded ...

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