The nuclear power company yesterday concluded a contract with SC GEN-I Bucharest-Electricity Trading for the sale of nearly 2.3 TWh. The energy was sold at a bid on OPCOM (the Centralized Market of Bilateral Contracts) for a price of 166.17 lei/MWh, slightly above the starting price – 163 lei/MWh, hence the total value of the contract comes to some 381 million lei....more »

Romania’s main electricity producer and supplier plans to sell other 22 small hydropower plants from its portfolio through an open outcry auction which will be conducted within May 14 and 16, 2014. The SHPs are divided in 14 asset packages and the starting price for selling all of them is approximately 53.85 million lei (nearly 12 million euro), according to the companyțs website....more »

American Superconductor (AMSC), a global engineering company providing cost-efficiency solutions and services in the energy field, yesterday announced that part of its wind power manufacturing operations in China will be relocated to a new facility in Timisoara....more »

The Bucharest Court of Appeal irrevocably dismissed on Monday, March 17, the appeals made by Energy Financing Team AG and Energy Financing Team Romania against the decision of Hidroelectrica’s judiciary administrator of terminating the bilateral contracts for electricity sale, a press release informs....more »

Romania’s Energy Regulatory Authority has set this year’s price limit for trading green certificates, thus the cost of a green certificate on the corresponding market will range from 130.69 lei (29.28 euro) to 266.22 lei (59.647 euro). The level is similar to that in 2012 (129.64 lei/ 28.876 euro, 264.09 lei/ 58.823 euro, respectively), a slight increase being applied....more »

The Energy Efficiency programme run by Romania’s Ministry of Economy is supported by 8 million euro grants provided by Norway, Liechtenstein and Iceland. Total funds allocated the programme, which is co-financed, come to 9.4 million, the remaining amount representing Romania’s contribution....more »

Rompetrol Group changes its name to KazMunayGas International, based on the strategy of consolidating its operations under the original brand, thus all activities will be integrated into KMG, the Kazakh oil and gas state-owned enterprise. The d...more »

Grup Servicii Petroliere (GSP) officially inaugurated last Friday, March 7 the Uranus drilling platform, an investment worth 44 million dollar. Nearly 70 percent of the amount has been covered by a 30 million dollar loan from EximBank, the company controlled by Gabriel Comanescu providing the remaining part of the costs of the investment which included the purchase and modernization of the offshore drilling platform....more »

Erste Group Bank AG together with Banca Comercială Română (BCR) and the European Bank for Reconstruction and Development (EBRD) provide a financing worth 76 million euro for the construction of the 108 MW wind farm Crucea North, located in the Dobrogea region. The project which consists of 36 wind turbines, each one with a power capacity of 3 MW, is developed by Crucea Wind Farm S.A. that is fully owned by STEAG GmbH, a leading power producer in Germany. Total investment costs come to approximately 200 million euro, a press release announces....more »

Gabriel Dumitrascu, General Director of the Directorate-General for Privatization and Management of State Ownership in Energy, has been unanimously appointed as the new special administrator of Hidroelectrica during the Extraordinary General Meeting of Shareholders held on Friday, February 28. The assembly has been called by Remus Borza, representative of EURO INSOL, the judiciary administrator of the electricity producer, a media release informs....more »