Baroness Arielle Malard de Rotschild will be supported by the Department for Energy for a position within the future Board of Directors of Electrica, while Victor Cionga and Victor Grigorescu are the candidates designated by the Romanian State for becoming members of the board which will be established on September 22, 2014, when the first General Meeting of Shareholders subsequent to the company’s IPO is scheduled....more »

The Department for Energy has issued a draft ordinance which established important tax facilities for the investor that will engage in the project regarding the 1000 MW pumped-storage hydropower station at Tarnita-Lapustesti, the Cluj County....more »

Romania's largest thermo energy producer, Electrocentrale Bucharest, set up a joint venture with Japanese firm Marubeni Corporation to develop a gas power plant with a total installed capacity of 250 MW. The investment for the plant located in Fantanele, Mures county will amount to about 170 million euros.  The joint venture, SC Fântânele Gas Power SA, will be owned 90% by Marubeni Corporation and the remaining 10% of shares by Electrocentrale Bucharest, the company being operated as an independent power producer. The project involves the development of electricity generation units powered by natural gas, located inside the former Fântânele thermoelectric plant, which is currently disused....more »

Italy’s power group Enel announced, following a Board meeting held on July 10, 2014, that its generation assets in Slovakia as well as its distribution and sale assets in Romania will be included in the sale programme relative to the strategy of consolidating its financial structure....more »

Petromidia refinery processed a record amount of more than 465,000 tons of raw materials in May, the highest level since 1979 when it was commissioned, KMG International announced. The previous production record of 14,000 tons per day was therefore surpassed upon the upgrade and production capacity increase to over 5 million tons annually....more »

Romania’s main electricity producer and supplier puts up for sale other 22 small hydropower plants from its portfolio through an open outcry auction which will be conducted within September 15 and 18, 2014. The SHPs are divided in 17 asset packages and the starting price for selling all of them is approximately 55 million lei (some 12.5 million euro), according to the company....more »

Natural gas prices will be higher starting from July 1, for both households that will pay by 2.5 percent more and industrial consumers for whom the price increase is lower, by 1.5 percent, said Niculae Havrilet, President of ANRE, the National ...more »

Ovidiu Agliceru has replaced Mihai Stanculescu as general manager of Hidroelectrica, following the decision of Euro Insol, the judiciary administrator of the hydropower energy producer, the company announced through a press release. Agliceru who...more »

Romania climbs one position for the second time in a row in the EY’s report on the attractiveness of investment destinations in terms of renewable energy projects. Our country is positioned the 31st among 40 countries, after the Renewable energy country attractiveness index (RECAI) released in February ranked Romania the 32nd....more »

The Czech-based group, Solek, has been provided over 6.1 million euro for refinancing four of its solar parks in Romania whose total installed power capacity totals 8.58 MW. Refinancing of two of these PV projects (a total of 3.58 MW) is ensured by Garanti Leasing, while the other two, with a cumulated power capacity of 5 MW are supported through a refinance agreement concluded with OTP Bank Romania, the company announced....more »