The Energy Ministry launched on Monday the renewables Contracts for Difference (CfD) scheme, a financial instrument designed to stimulate the domestic production of green energy.Early this month, the European Commission approved a EUR 3 billion (RON 15.22 billion) Romanian scheme to support onshore wind and solar photovoltaic energy facilities, in order to foster the transition to a net-zero economy, as per the Green Deal Industrial Plan.According to Energy Minister Sebastian Burduja, the contracts for difference will contribute to the achievement of Romania's target of installing 10 GW of renewable energy by 2030, as set forth in the Integrated National Energy and Climate Change Plan.In order to fulfill its commitments for 2030, the government of Romania, through the Energy Ministry, implements a Contracts for Difference support scheme aimed at encouraging priority investments in the low emission power generation technologies needed by the Romanian energy sector, mentions an informative note for bidders for renewables CfDs published by the Energy Ministry.The objective of the CfD scheme is to support Romania in achieving its decarbonisation targets, while maintaining the security of its power supply. The duration of support through the CfD scheme will be of maximum 15 years from the date of payment.Contracts for Difference will be awarded to eligible producers through a competitive bidding process run by Transelectrica SA. The CfDs will be signed by the Romanian gas and electricity market operator (OPCOM) from Romania, as counterparty to the CfD contracts.
Developer Redport and businessman Dan Șucu, founder and shareholder of Mobexpert Group, are investing EUR 50 million in a major new residential development in eastern Bucharest. The project, named Vitality Est, will be built on a 27,000 square-meter plot adjacent to Pantelimon Park and Lake, offering more than 500 apartments and 400 square meters of […]
Romania’s Foreign Ministry (MAE) will organize 965 polling stations abroad for the 2025 presidential election this May, marking an increase of 15 stations compared to the 2024 elections. The decision was approved by the Permanent Electoral Authority and covers proposals submitted by Romania’s diplomatic missions and consular offices. The largest number of polling stations will […]
Russia has expelled two Romanian diplomats in response to Bucharest’s earlier decision to declare two Russian embassy staff as personae non gratae, the Russian Foreign Ministry announced on Wednesday, April 9, as reported by TASS. The Romanian diplomats, identified as the defense attaché in Moscow and his deputy, were informed of their expulsion after Romania’s […]
Shakespeare – everywhere, a project aiming to bring theater performances to communities all over Romania, is set to hit the road on April 23. Three theater vans, a mobile stage, and nine artists will set off from Craiova to cities and villages across the country for a free-access program that includes theater workshops, sonnet recitals, […]
Diehl Aviation said it is strengthening its global presence with the establishment of a new production site in Romania, supporting the increasing demand of the aviation industry. The local facility will primarily manufacture products and components for passenger aircraft. Diehl Aviation is a corporate division of Diehl Stiftung & Co. KG., and its customers include leading […]
Romania's Gross Domestic Product (GDP) increased by 0.8% in real terms in 2024 compared to the previous year, reaching an estimated RON 1,760.11 billion at current prices, according to data published Thursday, April 10, by the National Institute of Statistics (INS). In the fourth quarter of 2024, GDP rose by 0.6% compared to the third […]
