Hidroelectrica posts record six-month profit of EUR 207 million in H1
Romania’s state-owned power utility Hidroelectrica has reported a record six-month gross profit of RON 962 million (around EUR 207 million) in the first half of 2018, Business Review reported. The result, which was up 34% compared to H1 2017, was mainly attributable to cost control. In H1 2018, Hidroelectrica had turnover of RON 1.99 billion (EUR […]
Company established for HPP Buk Bijela’s construction
Public power utility Elektroprivreda Republike Srpske (ERS) and its subsidiary Hidroelektrane na Drini have established a Foča-based joint venture, Hidroelektrana Buk Bijela, for the production and sale of electricity, news agency Srna reported. The agreement on the establishment of the joint venture was signed by ERS acting director Radmila Čičković and Nedeljko Perišić, director of […]
Biomyc develops biodegradable packaging solution to substitute polystyrene, protect oceans from pollution
The Expanded Polystyrene Foam (EPS), a type of plastic, is widely used in the packaging industry. This non-biodegradable material has short usage cycles and a very low recycling rate, which makes it one of the most pervasive pollutants on Earth, especially in oceans. Bulgarian startup Biomyc, a finalist of this year’s clim@ competition for startups […]
Funds secured for wastewater collection, treatment project in Zenica
An agreement on a EUR 4.75 million donation from the Swiss government marks the final step in securing EUR 19.2 million for the wastewater collection and treatment project in the City of Zenica, Bosnia and Herzegovina (BiH). Agreements on the donation from the Swiss State Secretariat for Economic Affairs (SECO) and cooperation with German development […]
Greece’s first wind turbine factory starts production
The first Greek wind turbine factory, operated by Eunice Wind, has launched production in the town of Mandra in the west of Attica, some 30 km from Athens, Greek news agency ANA-MP reported. Eunice Wind is part of Eunice Energy Group. The factory manufactures EW-16 THETIS, the small wind turbine with a rated power of […]
Croatian Energy Market Operator to become part of Croatian Transmission System Operator
The Croatian Energy Market Operator (HROTE) will be part of the Croatian Transmission System Operator (HOPS), while the Croatian Environment and Nature Agency will become part of the Ministry of Environmental Protection and Energy. This is the outcome of the Croatian government’s decision on the reduction of the number of state agencies, institutes, funds, companies, […]
CEDIS to invest EUR 81.6 million in distribution network, tendering expected by end-October
Tendering for the selection of equipment suppliers and contractors for a project worth EUR 81.6 million to revitalize the Montenegrin power distribution network is expected by the end of October, while the start of the works is planned for February next year. The investments will be implemented by the Montenegrin distribution system operator (DSO), Crnogorski elektrodistributivni […]
Bulgaria’s NEK reports net loss in H1, to cancel some projects
Power utility Natsionalna Elektricheska Kompania (NEK) reported a BGN 74 million (EUR 37.8 million) net loss for the first six months of the year, according to the interim financial report published on the website of the Ministry of Finance, the Bulgarian media reported. The company said that due to poor financial results some investments will […]