Business | 18 June, 2024 at 7:00 AM
OMV Petrom to invest €2 billion by 2030 in Petrobrazi refinery
The refinery currently supplies around 30% of Romania's fuel needs and will continue to play a key role in the transport sector.
The refinery currently supplies around 30% of Romania's fuel needs and will continue to play a key role in the transport sector.
Romanian brewing companies have invested in advanced wastewater treatment plants to treat and reuse water and reduce the pollution load on local water bodies.
EBRD will invest €15 million in Eldrive Holding GmbH (Eldrive), a leading regional charging point operator in Bulgaria, Lithuania, and Romania.
IFC provided long-term debt financing for the 461-megawatt (MW) Vifor Wind Power Plant, to boost the supply of competitively priced renewable energy in Romania.
This campaign reflects their commitment to achieving climate neutrality across their entire business by 2040.
The project is located in Buzău County and the first phase, which will last until 2025, will see the installation of 30 Vestas wind turbines.
EBRD will lend €32 million, as part of a €291 million financing package, to build and operate a 192 MW onshore wind farm in Romania.
In 2023, the equivalent of 1.7 million more European homes became solar battery-powered.
EBRD is financing the first private energy deal led by a foreign investor to add renewable generation capacity in Ukraine since February 2022.
The European Commission announced that it would apply additional tariffs of up to 38.1% on imported Chinese electric vehicles from next month.
Eurowind Energy announced that it has obtained the construction permit for the Frumusița wind farm in Galati County.
Engie Romania, together with EFdeN, launched the Sustainable Prosumer Guide, a set of recommendations for becoming a sustainable prosumer.
OMV Petrom will invest approximately €750 million at Petrobrazi to transform the refinery into the first major producer of sustainable fuels in the region.
Visual Fan in association with Waldevar Energy, announced the signing of a contract with Rondocarton S.R.L. for the implementation of a 1 MWp Full EPC project.
Battery-electric buses reached 36% of new city bus sales in 2023 in the EU, overtaking diesel as the main bus fuel type for the first time.
Average CO2 emissions from all new cars registered in Europe in 2023 continued to decrease and were 1.4% lower than in 2022.
Nuclearelectrica and Korea Hydro & Nuclear Power (KHNP) announced the commencement of construction for Europe's first tritium removal facility at the Cernavoda Nuclear Power Plant.
Europe's air quality improved but EU standards are still not met across Europe, the European Environment Agency (EEA) analysis shows.
Energy Minister Sebastian Burduja has signed 14 financing contracts for photovoltaic panels for municipalities and public institutions.
North America has signifincatly outplaced Europe in attracting investments in electric vehicle (EV) production battery production and charging infrastructure.
The European Union has reached a provisional agreement to reduce the scope and stringency of two major ESG regulatory frameworks: Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD).
Waldevar Energy has begun construction on two utility-scale photovoltaic parks for Doral Energy in Tudor Vladimirescu (Brăila County) and Ștefan Vodă (Călărași County), Romania. The projects will deliver 14 MWp of installed capacity using around 25,000 photovoltaic panels.
Lidl Romania has published its eighth sustainability report for the 2024 financial year, announcing accelerated progress in reducing environmental impact. The retailer has achieved its international 2030 target for transitioning to natural refrigerants, with these now used in 100% of logistics centres and 81.7% of stores, compared to the original goal of 100% of logistics centres and 40% of stores. The company has also increased its green energy usage to 80% of total consumption.
Global law firm Dentons has advised OX2 on acquiring three wind power projects totaling 235 MW in Romania from Future Power. The projects, located in Vaslui and Vrancea counties, are expected to be commissioned between 2028 and 2030, subject to permitting.
Romania is emerging as a key destination for Turkish renewable energy investments, attracting growing interest from industrial and financial groups. Real grid connection opportunities for projects, infrastructure modernisation potential, and investment framework stability make Romania strategic for Turkish capital as Europe accelerates its transition to sustainable sources and energy independence.
