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Energy & Environment
Energy Minister Burduja: Black Sea wind energy - a unique opportunity for Romania's development
Thursday, October 3, 2024
The impact and potential of harnessing Romania's offshore wind energy, as well as the economic and social opportunities this industry can bring to the country are highlighted in the World Bank's Offshore Wind Roadmap for Romania released on September 27, representatives of the Energy Ministry said in a release, stating that the World Bank's report on Romanian's Black Sea wind energy potential looks at projects of up to 19 billion euros that could be implemented until 2035, 7 GW of new ...
World Bank: Romania can produce more wind energy than it will ever need
Thursday, October 3, 2024
Romania has an onshore wind capacity of 3 GW and an offshore wind resource large enough to produce more energy than it will ever need, World Bank Group representatives claim in a statement.The document refers to the Development Program for Offshore Wind Energy: Roadmap - Offshore Wind Energy in Romania."Globally, the technology for offshore wind energy (OSW) provides large volumes of energy from GW-scale projects, at prices competitive with ...
Vista Bank & Leasing Grant €20.5M Loan For 42MWp Solar Park
Thursday, October 3, 2024
The loan was arranged by Vista Bank and Vista Leasing, both acting as joint Lenders, while Vista Bank also acted as Mandated Lead Arranger, Facility Agent, Security Agent, and Account Bank. The facilities of €20.5 million will be used by Gogosu Solar Energy SRL, member of Solek Group, to develop a photovoltaic park with a total installed capacity of 42 MWp in Gogosu commune, Mehedinti county. Georgios Athanasopoulos, CEO of Vista ...
Minister: Romania could become first country from Black Sea to start offshore wind energy production
Thursday, September 26, 2024
Romania has prospects of becoming the first country from the Black Sea to start offshore wind energy production and the target is that, until 2032, Romanians will benefit from the energy produced in the Black Sea, with an installed power of at least 3GW, the Minister of Energy claims, Sebastian Burduja.At the Global Offshore Wind Alliance (GOWA) meeting in New York, Sebastian Burduja discussed Romania's integration into the club of countries that produce or will ...
Energy companies are very well represented on stock exchange
Thursday, September 26, 2024
Energy companies are very well represented on the stock exchange, Romania being, as for capitalization, in the third position in Central and Eastern Europe, after Poland and Austria, but before Hungary and the Czech Republic, declared on Wednesday the president of the Bucharest Stock Exchange (BVB), Radu Hanga at a conference on energy."We are in a very good position now. Taking into account the size of the economy and the big challenge for us, as the stock exchange, is ...
Need for investments in electricity distribution infrastructure until 2030, between 9 and 11 billion euros
Thursday, September 26, 2024
The need for investments in the electricity distribution infrastructure, until 2030, is somewhere between 9 and 11 billion euros, taking into account different targets, said on Tuesday Daniela Daraban, CEO, Federation of Associations of Energy Utilities (ACUE), during the "RoInvest - 5th Edition" conference, organized in Bucharest, on Tuesday."If up to now, somewhere around 500 million euros per year have been invested in distribution, on average, with the current ...
MOL signed major agreement in Azerbaijan to develop gas reserves of the ACG field
Thursday, September 26, 2024
MOL Group and its Joint Venture (JV) partners signed commercial agreements for the development of gas reserves in Azerbaijan. After SOCAR and BP, MOL is the third largest shareholder in the giant ACG field, where non-associated gas reservoirs were identified beneath and above the producing oil reservoirs. The partners have now agreed on the development and commercial exploitation of these reserves. MOL has also signed a Memorandum of Understanding with SOCAR to evaluate further potential ...
OMV Petrom premiers new automatic drilling technology in Romania
Thursday, September 26, 2024
OMV Petrom, the largest integrated energy producer in Southeastern Europe, is running a new drilling campaign using a state-of-the-art automated drilling rig owned by Foraj Sonde Videle. The campaign is initially focusing on several fields in Oltenia, Muntenia and Moldova, with plans to continue across the OMV Petrom portfolio thereafter. The objective of the campaign is to deliver new resources from mature fields, while improving safety and ...
Accenture Research: Almost 40% of Households Struggle to Pay Electricity Bills and Most Cannot Pay a Clean-Energy Premium
Thursday, September 26, 2024
* New report finds $115 trillion in power-sector investment needed for net-zero goals and guides energy providers on how to drive an equitable transition for consumers and themselves The research includes insights from the 2024 New Energy Consumer survey of 16,800 residential energy consumers across 18 countries. It revealed 37% of households globally are experiencing challenges paying ...
Moldova will buy electricity from Nuclearelectrica, from October
Thursday, September 26, 2024
SA Energocom announced on September 18 that starting next month it will procure electricity produced by the Cernavod? Nuclear Power Plant in Romania. The amount of electricity to be procured is 10 MW, the price of which is 400 RON/MWh. The representatives of the company, fully owned by the Chisinau government, announced that they have reserved part of the monthly capacity for October in order to purchase electricity from Nuclearelectrica, which owns ...
Solar project worth 14 mln. at Therme, 30% with European funds
Thursday, September 26, 2024
The Ministry of Energy supported a project carried out in Balotesti, in Ilfov county, with the support of European funds allocated through the PNRR, the investment representing a strategic decision for the creation of a sustainable consumption model, wrote, on Saturday, on his Facebook page, the relevant minister, Sebastian Burduja. “Today I want to tell you about another project carried out with the support of European funds allocated through ...
Retele Electrice companies acquire 4G routers to increase the digitalization of the electricity distribution infrastructure
Thursday, September 26, 2024
The companies Retele Electrice Muntenia, Retele Electrice Banat and Retele Electrice Dobrogea, part of the PPC group in Romania, have launched, through the public procurement information system, a procedure for the acquisition of 4G routers, essential for the digitization of the electricity infrastructure, the company informs. The routers will be integrated into the operators' remote-control system, to allow remote handling of the components of the electricity ...
Minister Burduja, Mandate Report: ME managed EU funds related to investments worth 13 bln. euro in 15 months
Thursday, September 26, 2024
The Ministry of Energy has launched and managed non-reimbursable funds for investments of over 13 billion euros, in the last 15 months, and projects of almost 10 billion euros are already signed and in implementation, the relevant minister, Sebastian Burduja, claims in a Report of the first 15 months of the mandate. “15 months and over 13 billion euros for every corner of Romania and for every segment of activity in Romania’s energy. I ...
Ministry of Energy: Romania supports carbon neutrality by 2050
Thursday, September 19, 2024
Romania is fully committed to and supports carbon neutrality by 2050, as mentioned in Romania's long-term energy strategy, the Secretary of State in the Ministry of Energy, Dan-Dragos Dragan, told the specialised conference "Developing infrastructure for the production, storage and supply of energy from renewable sources", organised by the Romanian-German Chamber of Commerce and Industry (AHK Romania) on Tuesday.He mentioned that the Ministry of Energy has published an ...
Simtel, PRIME Batteries Launch Energy Storage Prodromu Skete At Mount Athos
Thursday, September 19, 2024
Simtel, an engineering and technology group and a national leader in renewable energy, together with PRIME Batteries Technology, one of the leading energy storage solutions manufacturers in the European Union and the only battery producer in Romania, announce the signing of a partnership for the development of advanced renewable energy technologies. The partnership aims to increase energy efficiency, reduce costs, and accelerate the implementation of ...
CIS Group Builds A 23 MW Photovoltaic Park In Copsa Mica
Thursday, September 19, 2024
CIS Group announces the signing of a contract for the construction of a photovoltaic park in Copsa Mica. The total investment for this project amounts to nearly 100 million lei and the park is expected to become operational at the beginning of next year. The project is financed through the National Recovery and Resilience Plan, Component C6 – Energy, which aims to support investments in new capacities for producing electricity from renewable wind and solar energy ...
Gas imports up 5.9pct seven months into 2024, production up 1.3pct
Thursday, September 19, 2024
In the first seven months of 2024, Romania imported 1.013 million tonnes of oil equivalent (toe) of usable natural gas, 5.9% more (+56,700 toe) than in the same period last year, according to data centralised by the National Institute of Statistics (INS).The domestic production of natural gas totaled, in the mentioned period, almost 4.426 million toe, being 1.3% higher than in January-July 2023 (+58,400 toe).According to the estimates of the National ...
Electrica acquires 77.5-MW solar project in Romania
Thursday, September 19, 2024
Romanian utility Societatea Energetica Electrica SA, or Electrica, announced today that it has completed the acquisition of a ready-to-build solar project in Romania with an authorised installed capacity of 77.525 MW, https://renewablesnow.com/ informs. The asset joins ...
Primary energy, electricity resources down January through July, electricity consumption down 1.6pct
Thursday, September 19, 2024
Romania's primary energy and electricity resources decreased by 1% each, in the first seven months of the current year, compared to the same period in 2023, according to data published on Friday by the Institute National Statistics (INS).In the said interval, the main primary energy resources totaled 18.586 million tonnes of oil equivalent (toe), decreasing by 187,200 toe.Also, domestic production amounted to 9.947 million toe, down by 574,300 toe (-5.5%) ...
Romania to ask EU for compensation for significant energy price differences
Thursday, September 19, 2024
Romania will request compensation from the EU council of ministers, given that energy prices in Eastern Europe are significantly higher than in Western Europe, Energy Minister Sebastian Burduja told a specialist event on Thursday."We are very concerned about what is happening on the energy market. There are several months in which, unfortunately, prices in our region are significantly higher than in Western Europe. This is due to several factors. Of course, we are talking ...