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Energy & Environment
Works start for new energy group at Oradea Electric Heating Plant on investment of 48 million euros
Thursday, November 14, 2024
The mayor of Oradea, Florin Birta, announced on Wednesday the start of works on a major investment in the city's heating system, by replacing the existing energy group 1 with a modern one, a project worth about 48 million euros, financed from the state budget (85%) and from the local budget (15%)."Until the end of next year, all the thermal energy produced in Oradea will come from new, efficient installations, which reduce losses and ...
Net profit up 91 pct for Oil Terminal at end of first nine months of 2024
Thursday, November 14, 2024
Oil Terminal SA reported a net profit of 45.26 million RON, up 91.25% in the first nine months of this year compared to the same period in 2023, according to revised financial results published on Wednesday on the Bucharest Stock Exchange (BVB).The company's revenues totaled 354.3 million RON, 35.2% higher compared to September 30, 2023, while total expenses of 301.3 million RON were 28.2% higher compared to the same period.As of ...
EnergyMin Burduja: Vertical Gas Corridor has a vital role in strengthening energy security,
Thursday, November 14, 2024
The Vertical Gas Corridor has a vital role in strengthening energy security and eliminating Europe's dependence on Russian gas, the Minister of Energy, Sebastian Burduja, said on Wednesday at COP 29, the UN conference on climate change in Baku (Azerbaijan).According to a press release from the relevant ministry, Romania, Greece and Bulgaria organized a high-level event for the Vertical Gas Corridor and initiated a cooperation document in ...
Inauguration of Group 5, Rovinari Thermal Power Plant Coal in Romania’s Energy Transition
Thursday, November 14, 2024
Inauguration of Group 5 at the Rovinari Thermal Power Plant, in Gorj County, represents a significant investment in Romania’s energy sector, highlighting the continued role of coal-fired energy in the context of the energy transition. This initiative comes at a critical moment for Europe, as Germany and Poland, along with other European countries, navigate the challenges of the ...
Romania to sign most important project for Romanian energy sector, reactors 3 and 4
Thursday, November 14, 2024
Romania will sign this week the project for the construction of reactors 3 and 4 at Cernavoda nuclear power plant, the Minister of Energy, Sebastian Burduja, announced on Tuesday in a video post on Facebook from Baku (Azerbaijan)."I am here at the most important annual event for energy and climate. It is a meeting where more than 40,000 people came from all over the world and here I wanted to convey Romania's message to everyone. ...
40 MW photovoltaic park inaugurated in Arad County on investment of 40 million euros
Thursday, November 14, 2024
A 40 MW photovoltaic park that can supply energy to 17,000 households was inaugurated on Monday in Vladimirescu commune, Arad County, following a private investment of 40 million euros, with the production capacity to be expanded in the following years, according to the local authorities.The president of the Arad County Council, Iustin Cionca, announced, through a press release, that the investment belongs to the Austrian company ...
EnergyMin Burduja: We are prepared for 2024-2025 winter, as gas storage facilities are filled 101pct
Thursday, November 14, 2024
The filling rate in storage facilities exceeds 101%, higher than the European average, and this winter Romania is even in a better position than last year, Energy Minister Sebastian Burduja said on Monday."With certainty, we are prepared for the 2024-2025 winter, and we are doing even better than last year (in terms of natural gas stock). We are still in overfill, with a filling rate of over 101%, more than the European average. In fact, this ...
OMV Petrom's first large photovoltaic project execution begins
Thursday, November 14, 2024
OMV petrom begins the execution of its first photovoltaic project, as the company awarded the EPPCC contract for the photovoltaic plant in Isalnita to an association of Romanian companies, according to an OMV Petrom press release.OMV Petrom, the largest integrated energy producer in Southeastern Europe, signed an EPCC - Engineering & Design, Procurement, Execution & Commissioning - type contract for the Isalnita solar project. The ...
Insolvent hydropower constructor Hidroconstructia to come up with reorganisation plan in early 2025
Thursday, November 14, 2024
The insolvent hydropower and hydrotechnical construction company, Hidroconstructia, informs that it will submit, for the approval of creditors, a viable reorganisation plan in the first quarter of 2025, once the appeals settlement process is completed.According to a company release sent on Friday, the recovery plan of Hidroconstructia, the largest Romanian contractor in the field of hydropower constructions, defines the strategic priorities, ...
Romania draws EUR 13 billion euros in non-repayable funds for energy
Thursday, November 14, 2024
In the last year and three months, non-repayable funds of about EUR 13 billion euros were drawn to Romania's energy sector, because the private sector was a partner that came up with projects and owned investments, Energy Minister Sebastian Burduja said on last Thursday evening."The reality is that without you, we simply cannot do what we set out to do. In the energy sector, in the last year and three months, under my tenure, we managed ...
AEI head predicts post-capping end-consumer electricity prices between RON 1.03 - 1.15 per kWh
Thursday, November 14, 2024
The price of electricity at the end consumer after the price cap is removed on April 1, 2025 will range between RON 1.03 - 1.15 per kWh, VAT included, which would mean a 21% price increase for those with a consumption of over 255 kWh/month and by 51% for those who use less than 100 kWh/month, said president of the Smart Energy Association (AEI) Dumitru Chisalita, as he made a prediction of the electricity prices after the cap expires."The ...
Greece’s PPC working on 727 MW solar power project in Romania
Thursday, November 14, 2024
PPC Renewables Romania applied for a technical grid connection approval for a 727 MW photovoltaic project. Upon a current acquisition, the Greek company will top 1.3 GW in installed capacity in Romania. It is targeting 2 GW by the end of 2026, ...
CCIR:Discussion about revival of AGRI project,resumed against problems regarding European energy independence
Thursday, November 7, 2024
The excellent relations developed over time between the business communities in Romania and Azerbaijan and the major problems we face regarding European energy independence oblige us to resume the discussion about the revival of the AGRI (Azerbaijan - Georgia - Romania Interconnector) project, argues the chairman of the Romanian Chamber of Commerce (CCIR), Mihai Daraban.On Wednesday, November 6, the President of the CCIR had an official meeting with Gudsi Osmanov, the ...
Rompetrol Quality Control, 20 years of excellence in the field of technical analysis
Thursday, November 7, 2024
Rompetrol Quality Control (RQC), the laboratory division of the KMG International Group, celebrates 20 years since its establishment. Since 2004, the company has carried out over 12.5 million technical analyses, directly supporting the Petromidia Navodari and Vega Ploiesti refineries, as well as the only petrochemical division in Romania. The company, which employs 215 employees, 80% of whom are women, is a landmark in the market of providers of ...
Bulgaria and Romania grant Recovery and Resilience funding to gigawatts of energy storage
Thursday, November 7, 2024
Bulgaria supports 3.1GW of renewables and 1.1GW of storage The Ministry of Energy revealed the results last week (2 November) for the EU-backed ...
Energy Ministry signs MoU with Itochu for Tarnita-Lapustesti pumped storage hydropower plant project
Thursday, November 7, 2024
The Romanian Ministry of Energy and the Japanese company Itochu Corporation have signed a Memorandum of Understanding for the development of the Tarnita-Lapustesti pumped storage hydropower plant, a project of strategic importance for balancing the national energy system, the ministry informs in a press release.The memorandum was signed at the first edition of the Romania-Japan Energy Forum, taking place November 4-5, 2024, in Bucharest. The Forum is organized by the ...
Hidroelectrica, Norwegian company SINTEF launch joint project in electricity production
Thursday, November 7, 2024
The companies Hidroelectrica (from Romania) and SINTEF (from Norway) have started the implementation of the project "Networking, Exchange, Sharing and Transfer of Knowledge, Technology, Experience and Practices in the field of electricity production in hydropower plants," Hidroelectrica informs in a press release sent on Monday.In March 2024, the first information regarding the opening of the "Open Call for Bilateral Cooperation in the Green Transition" got published. The ...
Romcim completes construction of wind farm that directly supplies its cement factory in Medgidia
Thursday, November 7, 2024
Romcim, a member of building materials producer CRH Group, has completed the construction of a wind farm that directly supplies its cement factory in Medgidia - Constanta County, the company announced on Friday.According to the cited source, the wind farm includes 5 turbines with a total installed capacity of about 30 MW and an estimated annual net output of about 80 GWh, which will be entirely used for the factory's own consumption, covering a significant percentage of the ...
Fitch affirms Romania's Nuclearelectrica at 'BBB-', outlook stable
Thursday, November 7, 2024
Fitch Ratings has affirmed Romanian-based nuclear power generation company S.N. Nuclearelectrica S.A.'s Long-Term Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook, the company reported on Friday in a statement to the Bucharest Stock Exchange (BVB)"The BBB- rating, with stable outlook, reflects, according to the report published by Fitch Rating Agency, the strong market position as the sole producer of nuclear energy, covering approximately 20% of Romania's ...
Gross energy consumption, down by 3.5% in 2023, petroleum products import, up by 29.3%
Thursday, November 7, 2024
Imports of energy resources decreased by 5.5% in 2023 compared to the previous year, while gross domestic energy consumption decreased by 3.5% and final energy consumption recorded a 3.2% decline, it shows provisional data published on Friday by the National Institute of Statistics (INS).According to the quoted source, at a general level, the total energy resources available in 2023 have decreased compared to those in 2022, up to 42 million tons of oil equivalent (toe), ...