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Energy & Environment
KREIF, 119 mln. lei financing from OTP Bank for the development of new gas stations
Thursday, July 14, 2022
The Kazakh-Romanian Energy Investment Fund (KREIF) recently contracted a financing from OTP Bank Romania, in the amount of 119 mln. lei (about 24.75 mln. USD) for the retail program speedup - development of new fuel distribution stations. “KMG International continues its projects undertaken through the Kazakh-Romanian Energy Investment Fund while respecting its obligations towards its partners for ...
The Iron Gates hydropower plant operates at 60% of capacity
Thursday, July 14, 2022
The Iron Gates hydropower plants on the Danube, which produce the cheapest hydropower in Romania, delivered almost 400 MWH less power on July 8 than in a regular ...
Reveal Marketing Research study: Construction waste alarms Romanians
Thursday, July 14, 2022
7 out of 10 Romanians are worried about the disposal of construction waste in inappropriate places For young specialists under the age of 45, the problem of construction waste is the most alarming ...
Bulgarian PM: Greece-Bulgaria gas interconnector will transform the region's energy map
Thursday, July 14, 2022
This interconnector will transform the energy map of the region, Bulgaria's outgoing Prime Minister Kiril Petkov said at the ceremony marking the completion of the construction the Greece-Bulgaria gas interconnector which took place at one of the gas stations along the pipeline in Komotini, Greece, reports BTA.Greek Prime Minister Kyriakos Mitsotakis and Azerbaijani Energy Minister Parviz Shahbazov also attended the ceremony.Petkov expressed his ...
IFC and Garanti BBVA Consumer Finance Partner to expand financial services for greening homes in Romania
Thursday, July 14, 2022
Households in Romania will gain increased access to financial services with an IFC investment that aims to help individuals reduce their homes’ carbon footprints. IFC is providing a loan of €10 million in local currency to Garanti BBVA Consumer Finance, a key player in Romania’s consumer finance market, to help the company grow its green loan portfolio while diversifying its funding base. This is a first loan ...
Photon Energy breaks ground on 5MW Romanian solar
Thursday, July 14, 2022
Photon Energy has started construction of its second solar farm in Romania which will have a total capacity of 5MW,https://renews.biz/ reads. The PV project, located near Aiud, in Alba County, will annually deliver ...
Enel Green Power and Vulcan Energy join forces on geothermal lithium projects
Thursday, July 14, 2022
Enel Green Power and Vulcan Energy signed a wide-ranging agreement that focuses on geothermal lithium research by leveraging on the development opportunities offered by the “Cesano” license, on the outskirts of Rome. This agreement brings together the companies’ respective expertise in geothermal energy and lithium extraction in order to develop joint initiatives at the site located in the Latium region and ...
Rompetrol: Stopping crude oil flows through CPC pipeline does not affect Petromidia refinery supply
Thursday, July 7, 2022
KMGI – press release, 06.07.2022 In the context of the information published in the public space regarding a possible suspension of the Caspian Pipeline Consortium's operations on the territory of the Russian Federation, KMG International Group would like to confirm that any suspension of Caspian Pipeline Consortium's activities will not impact the supply of crude to Petromidia ...
Romania to postpone phasing out coal to 2032
Thursday, July 7, 2022
Government decided to delay its planned decarbonization goals for the energy sector, maintaining the use of coal for an extra two years. The initial plan would have had mines and coal-related activities shut down by December 31, 2030. Representatives of the governing Social-Democratic Party (PSD), quoted ...
Fitch: Sudden Halt to Russian Gas Supply Could Pressure Some CEE Ratings
Thursday, July 7, 2022
Slovakia, Hungary and Czech Republic are most exposed among Central and Eastern European (CEE) sovereigns to a sudden cessation of Russian gas supplies to EU countries, Fitch Ratings says. Poland, Lithuania and Romania appear least exposed.A sudden cessation is not Fitch’s base case, but is a risk. Bulgaria and Poland have already been cut off and supplies to other EU members have been reduced. Supply and infrastructure constraints mean it ...
EnergoBit: The second wave of renewables is based on photovoltaic projects
Thursday, July 7, 2022
The EnergoBit Group is already part of the new wave of renewables in Romania, confirmed the general manager Florin Pop, at EnergynomicsTalks, in a dialogue about the development potential of the production value chain in the Romanian energy industry. At present, EnergoBit is involved in a total of 10,000 MW in projects in different stages. Of these, “approximately 2,500 MW have already passed the stage of obtaining the technical connection authorization”, ...
Romgaz expects to complete Neptun Deep deal with Exxon by the end of July
Thursday, July 7, 2022
The management of Romanian state-controlled natural gas company Romgaz (BVB: SNG) estimates the completion of the transaction for the acquisition of a 50% stake in the Neptun Deep Black Sea natural gas field from ExxonMobil at the end of July, according to a company's note to investors. The date for completing the transaction and paying the rest of the money was initially announced as June ...
In Romania, the degree of filling of underground gas deposits is about 42%, the EU average being 58%
Thursday, July 7, 2022
Romania has filled just over 40% of its natural gas storage deposits, despite the broad concerns related to the disruption in the supply of Russian natural gas during the coming winter ...
Energy minister advises Romanians to turn off unnecessary lights to reduce need for imports
Thursday, July 7, 2022
Energy minister Virgil Popescu has advised the public to try to cut back on their energy consumption in order to reduce the dependency on Russian gas imports. A national campaign on energy efficiency will also be rolled out, the minister ...
Govt. prolongs until end-2023 financing of Iernut power plant
Thursday, July 7, 2022
The Government of Romania prolonged to the end of 2023 the deadline for the completion of the projects financed from the sale of the CO2 certificates distributed for free to Romania, with a view of allowing the completion of state-controlled gas company Romgaz MW gas-fired plant at ...
Gov't passes emergency ordinance on decarbonisation of Romania's energy sector
Thursday, July 7, 2022
The government will be allowed to postpone the closure of some coal-fired energy facilities and related mining and quarrying operations or restart closed energy facilities and related mining and quarrying operations in the event of an energy crisis, according to an emergency ordinance passed on ;ast Thursday."In an energy crisis, the Romanian government, at the proposal of the Ministry of Energy, may take a decision to postpone the closure of coal-fired ...
Transelectrica prepares to welcome the new wave of renewables to the grid
Thursday, July 7, 2022
The National Transport Operator Transelectrica is preparing to welcome the new wave of renewables to the grid, said George Vi?an, Director of the company’s Energy Markets Division, at ...
CE Oltenia: The eight solar parks in collaboration with OMV Petrom and Tinmar Energy will be ready in 2024
Thursday, July 7, 2022
CE Oltenia is developing its own photovoltaic parks in collaboration with OMV Petrom and Tinmar Energy and will put them into operation in 2024, said Sorin Alecu, Director of Strategy CE Oltenia, at ...
Iohannis: Romania, the first country in Europe to implement US SMR technology
Thursday, June 30, 2022
President Klaus Iohannis said on Wednesday that Romania is the first country in Europe where the new American technology of small modular reactors (SMR) will be implemented."This selection was made because on the sidelines of the COP 26 meeting in Glasgow we had a meeting with Mr Kerry, the United States special presidential envoy for climate; meetings, contacts between ministries happened before as well, but then we decided together to go this way. Romania is the ...
Iohannis: Ensuring energy security, shared objective of Romanian-American strategic partnership
Thursday, June 30, 2022
President Klaus Iohannis congratulated the announcement of US president Joe Biden, on Twitter, on Sunday evening, regarding the financing design studies of small modular reactors (SMR) in Romania, specifying that ensuring energy security represents a common objective of the Romanian-American strategic partnership.The US Government, along with the NuScale Power LLC (Tigard, Oregon) American company, will offer 14 million dollars for supporting design and ...