The companies Hidroelectrica (from Romania) and SINTEF (from Norway) have started the implementation of the project "Networking, Exchange, Sharing and Transfer of Knowledge, Technology, Experience and Practices in the field of electricity production in hydropower plants," Hidroelectrica informs in a press release sent on Monday.In March 2024, the first information regarding the opening of the "Open Call for Bilateral Cooperation in the Green Transition" got published. The presentation workshop took place on April 23, 2024, with the allocated budget being of 1,250 million euros, granted through the EEA & Norway Grants 2014 - 2021 financing instrument.The EEA and Norwegian grants are funded by Iceland, Liechtenstein and Norway. The grants have two objectives - to contribute to an equal Europe, both socially and economically - and to strengthen the relations between Iceland, Liechtenstein and Norway and the 15 beneficiary states in Europe. The objective of the grants is to reduce social and economic disparities and to strengthen bilateral relations. This strengthens the internal market, leading to a more prosperous Europe."Considering that applying to this call is an opportunity to better contribute to the energy transition in Europe by strengthening the collaboration with one of the most important representatives of the Norwegian and global hydropower sector, by carrying out well-defined activities related to our common needs of improvement and development, benefiting from financing under the EEA & Norway Grants Programme, the team of specialists in accessing financing at Hidroelectrica developed and submitted the financing application within the requested deadline, on May 31, 2024," the press release reads.According to the conditions mentioned in the call documents, Hidroelectrica and SINTEF were considered eligible to access this financing instrument, which represents an opportunity for Hidroelectrica to obtain specialized support from a company with European experience, for the development of the knowledge and skills of its own specialists in the implementation at the company level of modern solutions to optimize the programming of the operation of hydroelectric power plants that will lead to the efficiency of production and subsequently of the trading of electricity produced from renewable sources in the capacities in the portfolio.Hidroelectrica, the most important Romanian electricity production company with a long history in the operation of hydropower plants, aiming at the further development of a sustainable energy system, will carry out this project together with the Norwegian company SINTEF, recognized as a world leader in solutions to optimize operation programming hydroelectric power plants.Hidroelectrica operates 187 hydropower plants with a total capacity of 6.3 GW and owns a wind farm with an installed power of 108 MW, covering 13.9% of the competitive electricity market in the country.
Romania has become the EU country with the highest unemployment rate among young people under 25 (26.3%), according to official Eurostat data published in December 2024 and analyzed by the Social Monitor, a project of the Friedrich Ebert Foundation Romania. Thus, Romania surpassed states such as Spain and Greece, where youth unemployment has always been […]
In its half-year report for the second half of 2024, TikTok said it blocked 33,000 spam accounts in Romania and nearly 100,000 fake accounts. It highlighted its intense activity in blocking fraudulent activity related to Romania, particularly during the electoral campaign, indirectly admitting the...
Moldovan president Maia Sandu has acknowledged that some local entrepreneurs are transferring capital to Romania due to its stability as a European Union and NATO member state. Speaking about the country's economic stagnation in 2024, when GDP grew by only 0.1%, and the technical recession in the second half of the year, Sandu highlighted concerns […]
Battery Energy Storage Systems (BESS) are set to become a central component of Romania's power system, according to Oxford-based Aurora Energy Research, whose analysts see investments in Romania's BESS totaling several gigawatts of capacity and several billion euros over the next decade. Aurora pointed to both the opportunities and the risks and uncertainties associated with […]
Romania’s insurance market grew by 11% year-on-year in 2024, reaching a total gross written premium volume of RON 23.4bn (EUR 4.7bn), according to a report published on 1 April by the Financial Supervisory Authority (ASF). General insurance accounted for 81% of total underwritings, while life insurance represented 19%. The total value of insurance premiums for […]
Romania’s authorities are reportedly negotiating with Turkish company Desan Shipyard, which is pondering the option of taking over the activity of Damen Shipyards Mangalia, abandoned last year by its 49% strategic shareholder Damen and currently under insolvency, according to
