Parliament approves law on power from renewable sources
A large majority of lawmakers adopted legislation on measures in the field of electricity produced from renewable energy sources, according to a press release issued by the Ministry of Energy, Small and Medium Sized Enterprises and Business Environment, Business-review.eu reported. The business magazine’s portal said producers and operators who were not issued individual decisions authorization […]
Power producer Hidroelectrica to invest EUR 1.8 billion
An investment budget of EUR 1.3 billion for 2015-2020 has been set by power producer Hidroelectrica, Romania-insider.com portal reported. About EUR 450 million are for the ongoing projects in Racoviţa, Bretea, Răstoliţa, Siriu-Surduc, Dumitra-Bumbeşti. Hidroelectrica will also invest EUR 350 million to refurbish four high capacity hydropower plants, namely Stejaru, Vidraru, Râul Mare – Retezat […]
Poor predictability makes RES unattractive to investors
The Romanian renewable energy sources (RES) sector is unattractive to investors, said representatives of the Renewable Energy Producers Organization in Romania (Patres) on the occasion of their annual meeting, when they also debated legislative news, Business-review.eu reported. George Niculescu, the executive director, believes that the biggest concern are the frequent legislative changes that occur suddenly […]
Hidroelectrica buys EUR 1.7 million IT system
Hidroelectrica bought an IT system at a record price of EUR 1.7 million, value-added tax excluded. On March 31, the consortium consisting of Information Business Consulting, Electrica Soluziona, and Indra won the auction for an integrated enterprise resource-planning IT system with business-intelligence management analysis instruments, Business-review.eu portal reported. There will be implemented multiple forms of […]
E.ON completes EUR 8 million investment in energy supply security
Modernization and Scada system integration of E.ON Moldova Distribuţie S. A. substations’ project was completed by E.ON Distribuţie România, Germany’s biggest power supplier’s subsidiary based in Târgu-Mureș, Business-review.eu portal said. The project was co-financed by the European Regional Development Fund (FEDR), following a RON 35 million (EUR 8 million) investment. The project was implemented over […]
China’s interest in hydro comes from global strategy
Five Chinese consortia were preparing to win a USD 1.1 billion pumped hydro storage facility, obsolete for 30 years, Greentech Media reported. The selected contractor should launch works on the 1 GW Tarniţa – Lăpuștești hydroelectric power station in Cluj county before the end of the year. Hidro Tarniţa SA, the project developer, claims the five- to seven-year construction […]
15 Romanian companies awarded for promoting sustainable energy
European Bank for Reconstruction and Development (EBRD) and the European Union honored 15 Romanian companies for promoting energy efficiency, reads EBRD’s press release. The EU-EBRD Sustainable Energy Excellence Awards, held in Bucharest on March 19, recognized Romania’s most successful sustainable energy projects financed by the EBRD and the EU. “We are celebrating Romanian companies which […]
MVM purchases hydroelectric power plant
State-owned MVM Hungarian Electricity Ltd. has purchased a 7.48 MW hydroelectric power plant (HPP) in Romania, more precisely a 90 percent stake, in order to “further strengthen its renewables portfolio”, Budapest Business Journal reported, citing an article in Hungarian language Romanian daily ’Kronika’. According to the paper, the value of the transaction is approximately EUR […]