Geothermal energy represents one of the most feasible resources in green transition, while CLGS are a solution for the use of this type of energy, according to the Oil and Gas Employers’ Federation (FPPG). They explained, at a meeting with the press, that CLGS already used in Canada, Germany and USA, presents significant key advantages to conventional systems, among which the absence of fracture, the possibility of exploiting geothermal energy regardless of the availability of warm water sources in the vicinity of the cogeneration plant, the lack of risks of induced seismicity, the absence of any elements undergoing corosion, erosion, deposits and the direct connection between towns where there is demand and warm water resources. The closed circuit system supposes in depth drilling and introduction of pipes made of a special material in the soils in the vicinity of the magma rock layer, where there are temperatures of 300 degrees. Pipes are filled with water which will receive rock warmth. Water returns to the surface and reaches the cogeneration plant, where electric and thermal energies are produced. Romania is among the first five European countries with geothermal energy potential. 24 sites are being explored now and there are many underground sources of geothermal waters. FPPG experts pointed out that more locations in the west part of Romania, close to the border with Hungary, present adequate geological conditions for the development of geothermal projects and the application of heat systems in closed circuit. Several towns in Romania are already interested in the exploration and use of geothermal energy to heat residential areas: Arad, Timisoara and Oradea. The low number of very big drilling instalations needed for such works is a problem in the implementation of such projects, about 15 such installations being found in Europe. The initial cost of such installations is very high, at least million euros per loop, but later operational costs are very low. A series of legislative amendments are needed to use these geothermal resources, such as the amendment of the Mine Law recommended by FPPG representatives.
Young people aged between 16 and 18 in Romania will be able to establish and manage a new type of limited liability company (S.R.L.), which will be called a "firmă de exercițiu" (practice firm) and will have the abbreviation "S.R.L.-F.E.", according to a new project. A young person will be able to establish or acquire […]
Developer Skanska has signed an agreement to sell the first phase of the Bucharest office complex Equilibrium to Gordiusz Private Equity Fund, managed by Gránit Asset Management. The transaction value amounts to EUR 52 million. The Equilibrium office complex consists of two buildings in the business district Floreasca – Barbu Vacarescu. The first phase, which […]
This year's edition of the George Enescu International Festival, the largest classical music event in the country, will feature performances from some of the top sopranos and mezzo-sopranos of the moment. Among them are Asmik Grigorian, Sonya Yoncheva, Kristine Opolais, Magdalena Kožená, Julia Lezhneva, Sarah Aristidou, Jennifer Holloway, Aylin Perez, Elsa Dreisig, Rachel Willis-Sørensen, Ruxandra […]
Globinvest, an asset management company from Cluj-Napoca, is set to launch an exchange-traded fund, or ETF, grouping together companies in the energy sector and several financial companies. Globinvest, a company with 30 years of experience on the Romanian capital market, will list the new entity on April 28 under the symbol GIBEFETF. Ilie Cenan, Chairman […]
Cyberhaven, an AI-powered data security provider founded by three Romanians and two Ukrainian citizens, recently announced that it has attracted a USD 100 million Series D funding led by StepStone Group along with new investors Schroders and Industry Ventures, to further accelerate its rapid growth. The funding pushes the valuation of the company to USD […]
The electoral campaign for the presidential elections began on Friday, April 4, at midnight, with most of the candidates posting on social media within the first minutes. Far-right candidate George Simion, credited with the first shot at winning the first round according to the latest surveys, began the election campaign alongside his wife and supporters, […]
