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Energy & Environment
Romanian Nabucco Section to See EU1.5 Billion Investment
Thursday, November 24, 2011
The Romanian section of the Nabucco pipeline will probably require between 1.2 billion euros ($1.6 billion) and 1.5 billion euros in investments, the project’s Managing Director Reinhard Mitschek said.Nabucco Gas Pipeline International GmbH expects to make a final investment decision about the pipeline early in 2013 and start construction later that year, Mitschek reiterated at a presentation in Bucharest, Romania.Nabucco officials plan to complete an environmental ...
Credit line worth 930M euros goes to Petrom
Thursday, November 24, 2011
The biggest Southeastern European crude and methane supplier Petrom contracted for a multi-currency line of credit worth 930 million euros, having a three-year maturity and the possibility to prolong it for two more years in a row, Petrom Group informed. The loan replaces the lines of credits worth 875 million euros the Group signed in 2008 and 2009, and are due back in 2012, but which were not spent at the date the new line was contracted for. The new loan will cover the Company's ...
FT's Konieczny: Energy producing companies being still owned by state is to their detriment
Thursday, November 24, 2011
Big energy producing companies such as Hidroelectrica and Nuclearelectrica being still owned by the state is to the detriment of the market and of these companies, executive vice-president of Franklin Templeton Investment Management Limited and portfolio manager of the Proprietatea Fund Greg Konieczny told Forum Energy 2011.'The potential of the Hidroelectrica company is not reflected in its results and the average price Hidroelectrica sells at is much lower than the one the other ...
Teodor Baconschi: Romania's targets in energy field, closely bound to EU policies
Thursday, November 24, 2011
Romania's targets in the field of energy are closely related to the EU policies and will be found in the updated form of the national strategy for the energy security, said Romanian Minister of Foreign Affairs Teodor Baconschi on Tuesday during his speech at the conference 'Energy in Central and South-East Europe,' held by Forum Invest. 'Romania's targets are closely knit with the EU policies and will be found in the updated form of the national strategy for the energy security, ...
Hidroelectrica plans to hike prices set up in bilateral contracts by over 3.5 pct
Thursday, November 24, 2011
Hydroelectric power producer Hidroelectrica plans to renegotiate the bilateral contracts so that to hike the price by at least 3.5 percent starting Jan. 1, 2012 or to reduce the quantity of supplied energy, in some cases considering to annul contracts, company's managing director Constantin Trihenea told the Energy Forum 2011 on Tuesday.'All contracts expiring in 2015, 2017 and 2018 contain renegotiation clauses. We shall do everything possible to increase the price. We plan an ...
Romania ranks 13th among most attractive countries for investments in renewable energy
Thursday, November 24, 2011
Romania climbed from the 16th to the 13th place among the most attractive countries in the world on the investments in the renewable energy, due to a new piece of legislation on electricity from renewable energy sources (RES-E), according to the “Country Attractiveness Indices” report recently launched by Ernst & Young. The new piece of legislation received EU approval after a two-year wait, increasing the amount of green certificates (GCs) for each technology, and creating one of the most ...
Hidroelectrica to be first state-run company with private management
Thursday, November 24, 2011
Hydroelectric power producer Hidroelectrica will be the first state-run company to have private management, with the mandate starting in Feb. 2012 at the latest, Economy Minister Ion Ariton told a private TV channel.According to Ariton, in this period the Government carries out a process to appoint private managers to the ailing state-owned companies, as the managers must begin their tenure in the first months of 2012.'I would like to start with Hidroelectrica, a company ...
Reuters:Italy Gas Plus enters Romania offshore gas, oil JV
Thursday, November 24, 2011
Italy's fourth-biggest gas producer, Gas Plus, has entered an offshore gas and oil joint venture in Romania with a 15 percent stake, as part of its push to expand international exploration and production operations, it said on Friday. Romania's National Agency of Mineral Resources (NAMR) has approved a transfer of the stake in licences for offshore blocks Midia and Pelican in the Black Sea to Gas Plus from Canada's Sterling Resources Ltd, Gas Plus said in a statement. Gas Plus ...
Investments of 780 million euros in 11 wind farms in country's north-east area
Thursday, November 24, 2011
The French group Filasa International announced on Thursday investments of 780 million euros in the construction of 11 wind farms in Suceava County country's north-east .The list of 11 energy projects includes wind farms with a combined installed capacity of approximately 516 MW, located on the territory of several localities. All projects are developed in co-association with the respective local communities and the entire wind farm energy complex is called the Wind Parks of ...
Greenhouse gas tax to increase cogeneration costs by 33 pct
Thursday, November 24, 2011
Production costs for a cogeneration plant will increase by 33 pct following the introduction of the tax on greenhouse gas emissions, general manager of thermal power plant Electrocentrale Galati, Eduard Urbanschi, on Thursday told the roundtable meeting 'District heating, where to?' held in the city of Galati (north-east of Bucharest).As far as the end-consumer is concerned, the introduction of this tax might affect him or not, depending on the authorities' decision to subsidize ...
Romania will have 50.000 installed solar panel systems by 2014
Thursday, November 24, 2011
The Romanian solar panel market will reach 50.000 systems in the next two years, closing down the gap in volume compared to European markets, according to estimates from Ariston Thermo Romania, one of the players on the local solar panel market.Ariston forecasts an increasing demand for solar panels in the year to come, fueled by the extension of the governmental program Casa Verde (Green House) in 2012. "Around 20.000 houses had installed solar panel systems prior to ...
Partnership between Ministry of Environment and World Wildlife Fund for Nature to save forests
Thursday, November 17, 2011
Minister of Environment and Forests Laszlo Borbely announced on Tuesday, in Sinca, Brasov County center of the country , the signing soon of a protocol with the organization World Wildlife Fund for Nature (WWF) to protect virgin forests in Romania, covering an area of 250,000 ha.'By this year-end, we can tell which are the first steps that we will take and a clear position of the Ministry of Environment and Forests to save these forests. I personally came here to visit the virgin ...
Necessary investments amounting to EUR 700 mln in renewable energy for Electrica and Transelectrica
Thursday, November 17, 2011
Electrica needs to invest about 200 million euros to produce renewable energy and the investments Transelectrica must make to be able to connect to the renewable energy amount to about 500 million euros, said representatives of both companies during an energy seminar. 'Electrica needs investments amounting to 200 million euros between 2012 and 2014 for renewable energy. The necessary amount to produce wind energy is 140-160 million euros,' said Electrica deputy CEO Dan Ticu. ...
Romanian exports of primary energy resources up 6.5 pct this year
Thursday, November 17, 2011
The Romanian exports of primary energy resources will rise 6.5 percent this year from 2010 to 5.27 million tonnes of oil equivalent (toe), up from 4.9 million toe last year; such shipments in the next four years will go up 1.83 million toe to 7.1 million toe in 2015, reveals the 2009-2020 energy balance forecast drawn up by the National Commission for Prognosis. Romania, in 2020, will export 9.8 million toe, up 6.7 percent on 2011-2015, the Commission anticipated.It said the Romanian energy ...
WB: SCCF Funding to Help Build Catastrophe and Weather Risk Insurance Markets and Enhance Adaptive Capacity to Climate Change in Southeastern Europe
Thursday, November 17, 2011
Europa Re, a catastrophe and weather risk reinsurance facility, is receiving fresh support in its efforts to help governments in Southeastern Europe adapt to climate change. The Special Climate Change Fund (SCCF), administered by the Global Environment Facility (GEF), is providing $5.5 million to fund the technical and regulatory work needed to develop catastrophe and weather-risk insurance markets, and mitigate the negative impact of climate change in Albania, FYR Macedonia, and Serbia, ...
German company Karl Gruppe interested in investing in Romanian micro hydro systems
Thursday, November 17, 2011
German company Karl Gruppe, active in the energy sector, showed its interest to invest in Romania in the hydro power field, especially the micro hydro installations currently our of use, reads a release of the Ministry of Economy, Trade and Business Milieu in Romania.Minister of Economy Ion Ariton welcomed a delegation of the German company on November 10. Minister Ariton invited Karl Gruppe representatives to assess the possibility to associate with Hidroelectrica company for the ...
Battle lines drawn ahead of 2013 'Year of Air'
Thursday, November 17, 2011
Environment Commissioner Janez Potočnik wants 2013 to be the “Year of Air” and is pushing for stronger air quality laws across the European Union. But with many member states failing to enforce current rules, the commissioner could face an uphill battle.The European Commission has begun a comprehensive review of existing laws that could lead within a year to changes in the 2008 air quality directive.The directive is credited, along with a host of other pollution-related laws, in ...
Reuters:Romania power grid needs big investment-official
Thursday, November 10, 2011
Romania's power transmission system operator Transelectrica needs around 500 million euros to upgrade the power grid so it can handle an expected surge of wind generation, a company director said. Transelectrica is hoping to attract foreign investors to help raise funds to strengthen power lines and build sub-stations needed to connect wind farms to the grid as the Balkan country develops its fast-growing renewable sector, deputy director Octavian Lohan said. "The sector has benefited ...
Romanian Economy Ministry Companies Reduced Arrears, Posted 50% Lower 9-Mo Losses
Thursday, November 10, 2011
The companies under the Romanian Economy Ministry's authority and monitored by the IMF have reduced their arrears, cut their personnel expenses by 4.5% and posted 50% lower losses in the first nine months of the year. The companies are Termoelectrica, ELCEN, CNH, SNLO, Oltchim, Complexul Energetic Turceni, Electrica Furnizare Transilvania Nord and Electrica Serv.Moreover, ELCEN, Complexul Energetic Turceni, SNLO and Electrica Furnizare Transilvania Nord have turned a profit in the first ...
Mihai Tanasescu(FMI) : Romania needs energy market liberalization
Thursday, November 10, 2011
Romania needs the energy market liberalization, as it has to make investments worth 35 billion euros in the energy sector and the companies must rely on predictability in order to invest, Romania's representative with the International Monetary Fund (IMF) Mihai Tanasescu said ahead of the meeting with the IMF representatives and those of the Romanian Ministry of Economy, Trade and Business Environment.'There is already a well established schedule regarding the liberalization for ...