Romania received the approval for a financing worth 200 million euro from the European Investment Bank (EIB), money that will be used for the modernization of the electricity distribution network, according to a press release of the financial institution . “On its way to energy independence, Romania has a huge need for investments in electricity networks, which is why, in my capacity as a member of the Board of Directors of the European Investment Bank, I am happy to announce that I have approved at the EIB a financing in the amount of 200 million euros for our country, Romania thus takes another step towards achieving its goal of having a modern, solid and efficient electricity network, in order to become, thus, an energy independent country and a stability factor in the region,” said Mihai Precup, member of the EIB’s Board of Directors. He stated that the financial institution he represents will co-finance a project that benefits from European funds and the beneficiary’s own resources. The value of the investment is 629 million euros, of which the European Investment Bank finances 200 million euros, the remaining 295 million euros from European funds, and 134 million from own sources. According to the quoted source, the EIB operation in favor of Romania refers mainly to the consolidation and renovation of Romania’s stations, substations and overhead lines in order to expand the electricity distribution capacities of its network, to facilitate the absorption and distribution of electricity from the installations generation from renewable sources and to reduce self-consumption. The objective includes elements of the Carmen 1 project, a smaller sub-component of the overall operation (approximately 10-15% of the total investment of the operation) and a European Union (EU) regional and transnational Project of Common Interest (PCI) involving networks of electricity from both Bulgaria and Hungary. Practically, the key purpose of the investment is the expansion of the connections from renewable sources to the networks and the improvement of the interconnection between the transmission and distribution networks in Romania, Bulgaria and Hungary.
JW Marriott Bucharest Grand Hotel marks a milestone that goes far beyond an anniversary this year. It celebrates 25 years of stories — of people, vision, and the unwavering belief that hospitality has the power to shape a city’s spirit. “Marking 25 years is, first and foremost, a statement of trust. Guests have chosen JW […]
Three-quarters of Romanian citizens believe that the national healthcare system offers poor services, and 70% think that it is overstretched, according to the seventh edition of the Ipsos global report on health services, carried out in 30 countries, including Romania. The study analyzes the population’s perceptions of healthcare systems, major issues in the field, and […]
An 11-story building is currently being built next to the graves in Bucharest’s famous Bellu Cemetery, and the project, authorized by the District 4 City Hall in 2023, has sparked controversy in the context of local elections for general mayor. District 4 City Hall, led by Daniel Băluță, currently a candidate for the position of general […]
Romania is preparing to select its first-ever national team for the Bocuse d’Or, marking the country’s official debut in the prestigious culinary competition. The Bocuse d’Or Romania National Selection will take place on November 27 in Brașov, where five teams will compete over six hours for a single place in the 2026 Bocuse d’Or Europe […]
Prosecutors and police in Romania conducted 17 searches on Tuesday, November 25, in a case concerning falsified documents for persons from Russia, Ukraine, the Republic of Moldova, and other states of the former USSR. The searches mainly took place in Suceava county, on the border with Ukraine, but also in Bucharest. Some of the targeted individuals […]
HILS Development has announced a EUR 200 million investment in a new large-scale mixed-use residential project in northern Bucharest, marking the company’s expansion into one of the capital’s most dynamic growth areas. The development, called HILS Nord, will span 10 hectares near Lake Șaulei and feature 2,705 apartments alongside green spaces, retail areas, and other […]
