Romania has received, via the European Union's Modernisation Fund, a first disbursement worth almost EUR 1.1 billion for investing in the development of energy distribution networks, rehabilitation/modernisation of district heating networks, natural gas transmission network, as well as investment in energy-efficient rolling stock, according to a press release of the Ministry of Energy issued on Tuesday.The amount also includes funds for future projects established under contracts for difference. Romania has been allotted the largest share now, 37% of the total disbursement.The other member states benefitting from the first disbursement of 2024 are Bulgaria (EUR 65.2 million), Croatia (EUR 52 million), Czechia (EUR 835.2 million), Estonia (EUR 24.1 million), Hungary (EUR 76.8 million), Latvia (EUR 26.8 million), Lithuania (EUR 59 million), Poland (EUR 697.5 million), and Slovakia (EUR 35 million)."The Modernisation Fund is an essential instrument for Romania's green transition and the modernisation of its national power grid. I have committed myself from the very beginning to putting these financings to work, launching programmes and state aid schemes, funding much-needed investment. Through the efforts of the team at the Ministry of Energy and the Romanian government, Romania is emerging as the main energy player in the region. The payment made today by the European Commission confirms that Romania's potential in developing new energy capacities is huge, which is why the motto of my tenure remains: investment, investment, investment. In the 12 months of my term of office at the Ministry of Energy, the investment financed for the energy system via the Modernisation Fund and the National Recovery and Resilience Plan (PNRR) exceeded EUR 25 billion. We are continuing at the same pace. We are focusing on promoting the calls already launched via the Modernisation Fund and PNRR for own-consumption, battery storage, electricity network rehabilitation, modernisation of the district heating network and, but also on starting new calls offering the opportunity to the private and public sectors to win funding for the implementation of energy efficiency projects, as well as on the release of a Contracts for Difference (CFD) scheme," Energy Minister Sebastian Burduja is quoted as saying in the release.The Ministry of Energy also announced that it is preparing the launch of the first tender for Contracts for Difference. The last details will be soon established for sharing the funds allocated for investment in wind and solar energy, depending on the existing portfolio of projects funded under the National Recovery and Resilience Plan (PNRR) and the Modernisation Fund.The Modernisation Fund supports investments in the generation and use of energy from renewable sources, energy efficiency, energy storage, modernisation of energy networks, including district heating, pipelines and grids, and just transition in carbon-dependent regions.
Representatives of the ruling Social Democratic Party, PSD, gathered for a congress in Bucharest on Friday, November 7, to elect new leadership and to amend the party’s Statute. The only candidate for party leader is Sorin Grindeanu, who held the interim position after Marcel Ciolacu's resignation in May. In his speech at the congress, Sorin […]
The e-commerce sector recorded strong early results on Black Friday 2025, according to real-time data released on Friday, November 7, by PayU GPO Romania from its dedicated Media Center. By 14:10, the payment processor reported successful transactions totaling RON 514 million (roughly EUR 101 million). PayU said shoppers had made roughly 889,000 purchases, with around […]
Contakt Express Logistik, one of Romania’s leading retailers of mobile phone and tablet accessories, with a network of over 235 stores, is set to launch the initial public offering (IPO) between November 12 and December 3, 2025. The company offers a wide range of products, including cases, screen protectors, chargers, and gadgets, both in physical […]
Romania attracts fewer international tourists today than it did during the communist era, making it the only country in Europe in this situation, the National Association of Travel Agencies (ANAT) warned, as reported by news agency Agerpres. According to the organization, Romania received more than 3.4...
InterCapital ETF, the first international ETF provider in Romania, will launch two new exchange-traded funds on the Bucharest Stock Exchange starting November 11, 2025. The new instruments are the InterCapital CROBEX10 TR UCITS ETF, which offers exposure to the Croatian blue-chip equity market by tracking the performance of the CROBEX10tr index, and the InterCapital EUR […]
The Competition Councils of Romania, Bulgaria, and the Republic of Moldova have granted the necessary authorizations and approvals for the completion of the transaction through which Maspex Romania takes over the majority shareholding of Purcari Wineries. The Maspex Group, which has been present in Romania for nearly 30 years, became the majority shareholder of one […]
