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Energy & Environment
Retele Electrice companies continue to invest in medium voltage network infrastructure
Thursday, August 15, 2024
Bucharest – Retele Electrice companies are organizing a tender through the public platform SEAP for the acquisition of medium voltage three-phase reclosers, with the goal of ensuring a modern electrical network capable of meeting the growing demands of consumers and current challenges. With a maximum value of 19,320,000 lei, this strategic investment aims to both strengthen and modernize the medium voltage network, as well as improve resilience, ...
Oil Terminal ends first half of 2024 with net profit of over 36 million RON
Thursday, August 15, 2024
Oil Terminal recorded a net profit of 36.233 million RON in the first half of this year, 42.7% higher than in the similar period of 2023, according to financial data submitted on Monday to the Bucharest Stock Exchange.The company's gross profit for the period amounted to 41.419 million RON (+41.8%). Turnover increased by 36.1% to 231.01 million RON, while total revenues rose by 34.8% to 232,548 million RON. Expenses totaled 191.13 million RON (up 33.4%),As of ...
Vestas wins 99 MW project in Romania
Thursday, August 15, 2024
Vestas has received a 99 MW order from OX2 for an undisclosed wind energy project in Romania, https://www.vestas.com/ reads. Vestas will deliver 16 V162-6.2 MW wind turbines. The order also includes supply, delivery, and commissioning of the turbines. Upon completion, Vestas will ...
PPC signs agreement to acquire Evryo Group’s 629MW RES Romanian portfolio
Thursday, August 8, 2024
600MW onshore wind, 22MW hydro, 1 MW solar, 6MW batteries in operation About 145MW pipeline assets Affirmation of PPC Group’s strong commitment to the green energy transition- RES portfolio in Romania to double after completion Diversification of PPC Group’s RES portfolio with the addition of large scale wind ...
RON 138 ml worth of industrial energy efficiency financing contracts signed
Thursday, August 8, 2024
The Ministry of Energy signed on Wednesday 27 financing contracts worth a total of RON 138.25 million, as part of NRRP Investment 5, Component 6 Energy - Industrial sector energy efficiency, the Ministry said in a release, affirming its commitment to supporting the industrial sector through financing contracts for the modernization of equipment, industrial process constructions, and the implementation of a dedicated energy consumption management system."Through this ...
EnergMin Burduja: There's no replacing coal-fired power generation with photovoltaic panels or wind power plants
Thursday, August 8, 2024
Energy Minister Sebastian Burduja said at Iron Gates I, that coal-fired power generation cannot be replaced by photovoltaic panels or wind power plants, but by gas production.According to Burduja, at the moment there are delays in the process of replacing the coal-fired power plants at Isalnita and Turceni, but it is important not to close the coal-fired groups without putting something in place."In the restructuring plan for the Oltenia Energy Complex (CEO), ...
Syndicated loan worth approximately 1.93 billion RON for Transgaz
Thursday, August 8, 2024
SNTGN Transgaz SA, the technical operator of the National Gas Transmission System, has signed a syndicated loan agreement worth RON 1.93 billion (rd 390 million euros), to ensure the financing of the investment projects included in the Development Plan of the National Gas Transmission System, the company says in a release sent to the Bucharest Stock Exchange, on Thursday.UniCredit Bank coordinated the syndicated loan as Coordinating Mandated Main Arranger, Bookrunner, ...
Retele Electrice Secures 191M Lei In EU Funds For Infrastructure
Thursday, August 8, 2024
The Ministry of Energy and the companies Retele Electrice Muntenia, Retele Electrice Banat and Retele Electrice Dobrogea (part of the PPC Group in Romania) have signed three new non-reimbursable financing contracts through the Modernization Fund, for projects targeting the electricity distribution infrastructure in Ilfov, Calarasi and Arad counties. The three investment projects that will be carried out by the electricity distribution operators have ...
Romania to reach 90 pct gas storage stock by the end of summer season
Thursday, August 1, 2024
Romania will reach 90 percent gas storage filling by the end of the summer season, and this will help for winter preparations, Franck Neel, OMV Petrom Executive Board member, responsible for Gas & Power, told a press conference on Wednesday.We know that the winters are no longer so cold. The trend is for winters to be milder, but there will certainly be days with peak consumption, when consumption will be very high, but not over the entire winter season. Anyway, we do ...
Competition Council Reviews OMV Petrom’s Acquisition Of 3 Renewable Energy Companies
Thursday, August 1, 2024
The Competition Council is analyzing the transaction by which OMV Petrom SA intends to take over, together with RES Terranet Holding SRL, the companies Tenersolar Park SRL, Enerintens Solar SRL and CIL PV Plant SRL. The OMV Petrom Group is active in the energy industry, from the exploration and production of crude oil and natural gas, to the refining and distribution of fuels, and further to the generation of electricity, as well as the trading of ...
61 million euro syndicated loan for Premier Energy Group from Vista Bank & Optima Bank
Thursday, August 1, 2024
Vista Bank (Romania) and Optima Bank (Greece) granted a syndicated loan of 61 million euros for Premier Energy Group, according to a statement sent on Tuesday."The Facility was granted by Vista Bank and Optima Bank, both as Financiers, while Vista Bank also acted as Principal Intermediary, Agent, Guarantee Administrator and Bank-administrator of the accounts. The facility of 61 million euros will be used by Premier Renewable Invest Co. SRL to finance the acquisition ...
PPC Renewables is building a new 140 MW wind farm in eastern Romania
Thursday, August 1, 2024
A new wind power plant, with an installed capacity of 140 MW, in Deleni commune, eastern Vaslui county, is added to the organic development of the portfolio of renewable energy sources of PPC Renewables, reaching the construction phase, the company informs in a press release.The new wind farm is designed with 23 6.1 MW GE Vernova turbines and will be connected to the grid by the end of 2025. Given the high wind potential of the region, the estimated ...
Hydrocarbon production of Romgaz, up by 4.6% in first semester of 2024
Thursday, August 1, 2024
Romgaz recorded in the first half of this year a total production of hydrocarbons of 16.12 million barrels of oil equivalent (boe), 4.6% higher than in the same period last year, according to a report submitted on Friday, by Bucharest Stock Exchange.The amount of gas extracted, gross series, was 15.99 million boe (+4.3%), and condensate production was 136,000 boe (plus 50.5%).Natural gas from production capitalized totaled almost 2.245 billion cubic meters, down ...
Greenpeace Romania files complaint to have Neptun Deep environmental permit cancelled
Thursday, August 1, 2024
Environmental advocacy NGO Greenpeace Romania filed a preliminary complaint with the Constanta Environmental Protection Agency (APM), requesting the cancellation of the environmental permit for the Neptun Deep offshore gas project, the organization announced in a release on Friday.The move comes as a result of APM Constanta's decision to release the permit despite the issues highlighted by Greenpeace and which include: the absence of an adequate assessment of the long-term ...
Jan - May coal production drops almost 21 pct YoY, imports shrink 17.8 pct
Thursday, August 1, 2024
Romania's net coal production over January - May 2024 amounted to 858,700 million tons of oil equivalent (toe), 20.9 percent down (-203,800 toe) from the same period of 2023, according to data released by the National Institute of Statistics (INS).In the reporting period Romania imported 87,100 toe of net coal, by 18,800 toe (-17.8 percent) less y-o-y.The National Strategy and Projection Commission (CNSP) indicates that by 2026 the dynamics of coal production ...
Bilfinger develops cooperation with Black Sea Oil & Gas in Romania under framework agreement
Thursday, August 1, 2024
Bilfinger, the leading global industrial services provider, has won a series of engineering projects under the universal framework agreement that has been closed with Black Sea Oil & Gas company, https://www.ogv.energy/ reads. It is the first new offshore gas development project in the Black Sea built in over 30 years that managed to extract ...
Eurowind Energy completes the transformation station of the 60 MW Teius solar park
Thursday, August 1, 2024
The Danish developer and operator of wind, photovoltaic and hybrid energy projects Eurowind Energy announces the completion of the electrical transformation station and the start of the installation of the photovoltaic panels within the Teius park. Due to become operational in mid-October 2024, the project in Alba county will produce approximately 103.59 GWh annually, contributing to the reduction of carbon emissions by 37,125 tons ...
Gas imports increase by 11.8% in first five months of 2024, production up by 1.7%
Thursday, July 25, 2024
Romania imported, in the first five months of 2024, a quantity of usable natural gas of 661,400 tonnes of oil equivalent (toe), 11.8% higher (+69,900) compared to the similar period of last year, according to data centralized by the National Institute of Statistics (INS).The domestic production of natural gas totaled, in the mentioned period, 3.206 million toe, being 1.7% more than from January - May 2023 (+52,200 toe).According to the estimates ...
Crude oil production in Romania down 3.8pct five months into 2024
Thursday, July 25, 2024
In the first five months of 2024, Romania produced over 1.132 million tonnes of oil equivalent (toe), down 44,200 toe (-3.8%) y-o-y, according to data with the National Institute of Statistics (INS).Imports of crude oil totalled 2.568 million toe, down 896,400 toe from January-May 2023 (-25.9%).According to the latest Energy Balance Forecast, published by the National Commission for Economic Strategy and Forecast (CNSP), crude oil production ...
Romania aims to roll out 5 GW of energy storage by end 2026
Thursday, July 25, 2024
*Romania is aiming to have at least 2.5 GW of energy storage installed by the end of next year and to exeed 5 GW only a year later, https://www.pv-magazine.com/ reads. According to Romanian Minister of Energy Sebastian Burduja, the ...