ENEL to install 2500 EV charging stations across Romania
Italian based utility ENEL is preparing a development plan to install 2500 electrical vehicle (EV) charging stations across Romania in a project estimated between €15-20 million. The stations’ technological solution is based on a new charging solution developed by the Company’s global business line, Enel X.. Source: Ziarul Financiar #Enel #electricvehicle #chargingstation #Romania
KazMunayGas and Romania initiate an energy investment fund
Kazakhstan based KazMunayGas International, owner of Romania’s largest oil refinery Petromidia, and Romanian state-owned S.A.P.E., which manages country’s stakes in energy related companies, signed an agreement to launch the Kazakh-Romanian Energy Investment Fund. This step came after a Memorandum of Understanding for establishment, organisation and operation of the Fund was signed in February 2013. The Fund is estimated to facilitate over $1 billion worth of investments duri
Romania edges closer to a nuclear power plant
Romanian based Nuclearelectrica is in intense discussions with China Nuclear Power Corporation in the hope to complete negotiations by the end of 2018 and set up a joint venture for the construction of two nuclear reactors in Cernavodă. The project is estimated to cost €6.5 million. Nuclearelectrica currently operates a nuclear power plant on the Cernavodă location with two reactors of 700 MW each.. Source: Ziarul Financiar #Romania #Nuclearelectrica #nuclear #ChinaNuclearPow
Iernut TPP construction intensifies
Romanian state owned utility Romgaz received first parts (three of the plant’s four gas turbines and two power generators) for its 430 MW gas power plant of Iernut. Project contrators are Spanish Duro Felguera and Romanian Romelectro working on a construction estimated to cost around €268 million. The project is financed from the company’s own resources with the aid of the National Investment Plan. Most construction works are to be finished during the course of 2018, while th
Romania now has a digital energy supplier
E.ON announced it launched a new supplier on the Romanian energy market. E.ON Flash offers online products and services to consumers allowing them to change electricity and gas suppliers within minutes. The new company offers a variety of electricity and gas purchasing packages promising that energy costs will be visible up to eleven months in advance.. Source: E.ON #Romania #EON #digitalisation
Croatia and Romania exploring IPO options of power utilities
Croatian and Romanian governments announced intentions to for initial public offerings (IPOs) of state-owned utilities HEP (Croatia) and Hidroelectrica (Romania). Croatian government plans to offer a 25% share of HEP after the ownership issues over the hydroelectric generation portfolio are resolved. Romanian government plans to offer a 15% share in two phases: 10% in the first and 5% in the second phase. Source: Balkan Energy News #Croatia #Romania #HEP #Hidroelectrica
Enel to invest €329 in Romania by 2018
Only days after losing €401 million arbitration against Romania, Italian based Enel announced plans to invest €329 million in in Romania in order to enhance the service quality being provided. According to Nine o'clock, Enel invested over €3 billion in the Romanian energy sector since it entered the market in 2005. Source: Nine o'clock #Romania #Enel
Enel to pay €401 million to Romania
After finishing the international arbitration process, Italian based Enel is ordered to pay a sum of €401 million for the minority share of the Romanian distribution utility Electrica Muntenia Sud. According to Enel, the debt is to be settled in during 2017 in one single installment. Source: Ziarul Financiar #Romania #Enel
Enel lost €401 million arbitration to Romania
After winning in a previous €900 million arbitration, Enel has now been ordered to pay over €400 million for a minority stake in Electrica Muntenia Sud as part of the privatisation agreement signed when entering the market. as reported by Business Review, before going on trial, Enel said it was willing to pay €250 million for the stake, but the Romanian Government refused the offer. Source: Business Review #Enel #Romania
Bulgaria and Romania on EU watchlist
EU’s Cooperation and Verification Mechanism (CVM) published progress reports aimed to help "address shortcomings in judicial reform and the fight against corruption and organised crime". Both reports concluded that, at present, the benchmarks set have not yet been fulfilled. CVM did acknowledge the progress made by the two countries and sugested several further recommendations. Source: Euractiv #Romania #Bulgaria #CVM
