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Energy & Environment
Electrica Group narrows its Q1 2023 loss to 67 million RON net
Thursday, May 18, 2023
Electrica Group narrowed its Q1 net loss to 67 million RON from 158 million RON in Q1 2022, while the group's EBITDA (earnings before interest, taxes, depreciation and amortization) increased by 220 million RON to a positive 170 million RON, Electrica said in a statement.In Q1 2022 Electrica posted a negative EBITDA of 51 million RON.The operating revenues for the first three months of 2023 amount to 3.533 billion RON, up from the 3.258 billion ...
Hidroelectrica, included in stock market indices
Thursday, May 18, 2023
The Bucharest Stock Exchange (BVB) Index Committee decided in its extraordinary meeting on May 12 the inclusion of Hidroelectrica shares in the stock market indices, starting with the company's first day of trading on the stock exchange, according to a BVB press release.Thus, the Index Committee decided to approve the inclusion of Hidroelectrica SA in the BET, BET-TR, BET-TRN, BET-XT, BET-XT-TR, BET-XT-TRN, BET-BK, BET-NG and BET Plus indices ...
Rompetrol Rafinare ends first quarter of 2023 with net profit of 14.5 million dollars
Thursday, May 18, 2023
Rompetrol Rafinare, a member company of the KMG International Group, recorded, in the first quarter of 2023, a net profit of 14.5 million dollars, compared to losses of 132.8 million dollars reported at the end of March 2023, according to a release sent on Monday."Rompetrol Rafinare (...) reached, in the first quarter of 2023, a consolidated gross turnover of about 1.3 billion dollars, up 10% compared to the same period last year. The evolution was ...
Energy Minister, Solar Impulse Foundation head assess Romanian energy sector, clean technologies
Thursday, May 18, 2023
The Romanian energy sector was analysed on Monday by Energy Minister Virgil Popescu, together with Bertrand Piccard, President of the Solar Impulse Foundation, UN Ambassador for the Environment and Special Advisor to the European Commission."Today I had a working meeting with one of the great explorers of aviation, Bertrand Piccard, President of the Solar Impulse Foundation, UN Environment Ambassador and Special Advisor to the European Commission. He has ...
Household electricity consumption down 15 pct in the first three months
Thursday, May 18, 2023
Final electricity consumption was 12.694 billion kWh in the first three months of this year, down 8.8% compared to Q1 2022, according to data published Monday by the National Institute of Statistics (INS).Final electricity consumption in the economy fell by 6.4%, public lighting by 29.1% and household consumption by 15.1%.Domestic electricity production totalled 4.643 million toe, up 147,900 toe (+3.3%) year-on-year, while imports ...
Virgil Popescu: Reinforcing Romania's energy transmission network as part of strategy to increase green energy production
Thursday, May 18, 2023
The minister of energy, Virgil Popescu has discussed on Friday with the representatives of the companies Taqa, Meridiam, Fluor, Transelectrica and E-Infra about the possible involvement in the project of the High Voltage Direct Current Line (HVDC)5000 MW on the Romanian territory, on the corridor of the BRUA gas main and the future Tuzla-Podisor main. ‘We strengthen the ...
First E2 Centre in Europe to run NuScale SMR simulator, launched at Politehnica University of Bucharest
Thursday, May 18, 2023
The first Energy Exploration Centre (E2 Centre) in Europe to run the NuScale small modular reactor (SMR) simulator was inaugurated on last Friday at Politehnica University of Bucharest."Today we inaugurated and will inaugurate for the whole society a product that is not only aimed at a small group of people (but) for the entire society. A simulator that puts in front of students, teachers a complex activity as if we were in a nuclear power ...
Oil Terminal achieves net profit of almost 23.4 million RON in Q1, 2023
Thursday, May 18, 2023
Oil Terminal ended the first quarter of this year with a net profit of 23.39 million RON and a turnover of 85.615 million RON, according to the data submitted Friday by the Bucharest Stock Exchange.The company's revenues totaled 87.53 million RON and its expenses amounted to 60.31 million RON.Gross profit was 27.2 million RON, 23.5 million RON higher than the budgeted level for the period, as the approved physical program for the first 3 months ...
Saint-Gobain and ENGIE start works at largest on-site solar park in Romania
Thursday, May 18, 2023
Saint-Gobain and ENGIE Romania announce the start of the construction of the largest on-site photovoltaic park in Romania. Located on the land of the Saint-Gobain glass factory in C?l?ra?i, on an area of 14 hectares, the photovoltaic panel system will be intended for the production of renewable energy within the industrial site, the resulting production will be used 100% for ...
HPI Wind gets USAID’s MESA support for large-scale wind power generation in Moldova
Thursday, May 18, 2023
A special purpose company set up in 2022, HPI Wind was selected to receive support for the fundraising process under the USAID-funded Moldova Energy Security Activity (MESA), the company announced. In the past year, HPI Wind has developed a 200MW portfolio of top-notch wind energy projects across the nation, 105MW of which have already attained grid exclusivity. With this pipeline in place, HPI Wind’s full focus now is on securing funding to further ...
PM Ciuca about Romania's openness to analysing, continuing , strengthening Korean presence in nuclear power
Thursday, May 11, 2023
Romania's Prime Minister Nicolae Ciuca said on Wednesday that in his conversation with his South Korean counterpart Han Duck-Soo he expressed Romania's openness to analysing, continuing and strengthening the Korean presence in the field of nuclear power."I reiterated my support for increasing South Korean green field investment projects. I want to express my hope that we will see new South Korean investment projects in Romania also as a result of high-level ...
Romania's transition to green energy, a €20 billion financing opportunity for banks
Thursday, May 11, 2023
Romania’s transition to green energy represents for the banks and opportunity for financing of 20 billion euro, according to an analysis made by a management consultancy company. The consultancy company McKinskey & Company Romania estimates the potential of the green energy market (solar panels, heat pumps, insulation) to over 30 billion euro until 2040.At present, the Romanian state is ...
Control room simulator of first small modular reactor in Romania, inaugurated by UPB and Nuclearelectrica
Thursday, May 11, 2023
The Polytechnic University of Bucharest (UPB) and Nuclearelectrica will launch, on Friday, in an event that will take place in the Aula Magna of the higher education institution, the first Energy Exploration Center (E2 Center) in Europe, which houses the control room simulator of the small modular reactor (SMR) NuScale."The E2 Center, developed as part of the Foundational Infrastructure for Responsible Use of Small Modular Reactor Technology (FIRST) program, ...
Photon Energy commissions two power plants with total capacity of 9.5 MWp in Romania
Thursday, May 11, 2023
Photon Energy N.V. announces that Photon Energy Engineering Romania S.R.L. – the Group’s Romanian subsidiary dedicated to engineering, procurement and construction (EPC) services – has completed and grid-connected another two solar photovoltaic (PV) power plants in its Romanian market. The plants have a combined generation capacity of 9.5 Mwp, ...
Romania continues to be a net exporter of electricity after the first quarter of 2023
Thursday, May 11, 2023
Romania continues to be a net exporter of electricity in 2023, due to the reduction of consumption and resources good for hydro power stations and wind turbines which compensate the drop in the production of the stations on coal. The total production of electricity of Romania was, in January and February 2023 of over 10 TWh and the net consumption was almost 8.9 TWh according to the data of ...
Romania re-emerges as hot solar destination but not without obstacles
Thursday, May 11, 2023
After experiencing a burst of solar installations almost a decade ago, Romania is now said to be at the start of a new wave of photovoltaic (PV) capacity deployment, https://renewablesnow.com/ informs. Last week, more than 100 ...
Official Laszlo Borbely: Romania is falling behind Europe in terms of municipal waste recycling
Thursday, May 11, 2023
The coordinator of the Department for Sustainable Development of Romania's Government, Laszlo Borbely said on Thursday, at the inauguration of the PET Recycling Team Targu Mures plant, that such an investment is extremely useful, especially since Romania is falling behind Europe in terms of municipal waste recycling, with only 11.3pct compared to the European Union average of over 40pct."I will tell you two data which prove that an investment ...
Romania participates in European household energy saving research project
Thursday, May 11, 2023
Romanian consumers are invited to participate, starting on May 4, in a European campaign aimed at determining the best ways to render households energy efficient through cost-free measures, the Romanian Energy Poverty Observatory (ORSE) announced in a release.The campaign unfolds in six countries - Norway, Germany, Austria, Italy, Turkey and Romania - through the ENCHANT European research project financed under the EU's research and innovation program ...
OMV Petrom: We are targeting a 30% reduction in emissions by 2030 compared to 2019
Thursday, May 4, 2023
The intensity of the carbon dioxide emissions of our operations dropped last year by approximately 11% to the level of 2019, and until 2030 the company aims at a reduction of 30%, stated Christian Verchere, the general manager of OMV Petrom.According to the press release, OMV Petrom published the Report for Sustainability for 2022. This offers an overview of the economic, environmental and ...
Romgaz made payments of 7.7 billion lei to the Government in 2022
Thursday, May 4, 2023
The National Society for Natural Gas Romgaz made payments to the government of Romania last year worth 7,705 billion lei, according to a report sent on Thursday to the Stock Exchange Bucharest.According to the quoted source, in 2022, the taxes on income, for the production or profits of the commercial societies with the exception of taxes on consumption, such as tax on added value, tax on ...