Econergy, an investor, developer and operator in renewable energy projects across Europe, has announced the completion of an acquisition from Portland Trust of a ready-to-build 155MW solar photovoltaic (PV) project in Arges county, Romania with Nofar Energy. The total investment in the R?te?ti solar project will be €100m and will see Econergy and Nofar Energy acquire a 50% stake each in the project from Portland Trust. Econergy will also provide the management services, including EPC and O&M negotiations, construction management and PPA and project finance management. Once operational, Econergy shall also provide a long-term Asset Management service. The 155MW project will be the largest solar plant in Romania and will form part of Econergy’s 1.5GW solar pipeline under development in the country and part of its 6GW pipeline in Europe. The project has received all its required permits and construction is due to start in Q4 2021, with commercial operations expected to begin in Q4 2022. Upon completion the project is expected to provide power for up to 100,000 homes and will mitigate 168,000 tonnes of CO2, further supporting Romania’s decarbonisation target of securing over 30% of its energy needs from renewable sources by 2030. Eyal Podhorzer, CEO of Econergy said: “Econergy are pleased to be leading the development and construction of the largest solar PV project in Romania. Solar is a core technology for Econergy and will form a key part of our strategy to develop renewable energy projects across Europe in the coming months. Romania represents a key target geography for Econergy, and this acquisition builds on our reputation as a leading developer in the Romanian solar market with strong local development, management, and engineering specialisms.Part of our forward-looking strategy will involve continuing to invest in clean energy projects in markets such as Romania where changes to the regulations allow the industry to expand via PPAs, diversification of services to the grid and the introduction of other renewable energy technologies.”
A recent investigation conducted by Romanian journalists at Recorder claims to show that Vlad Oprea, the mayor of Sinaia, a popular mountain town roughly 120 km north of Bucharest, has an impressive fortune hidden from public view. He allegedly owns several properties, including a castle in France, which was bought under the name of one of his […]
Retail investors subscribed over 23.3 million shares in the first three days of the initial public offering carried out by energy group Premier Energy (PE). There were over 10,000 orders placed by retail investors, amounting to over RON 500 million (100 mln), as of Friday, May 10, at 15:15. The Premier Energy IPO is the […]
Romania ranked second in the region in terms of industrial & logistics spaces leased in the first quarter of 2024, after Poland, the uncontested leader in Central and Eastern Europe, according to a recent report by real estate consultancy company Cushman & Wakefield Echinox. The local demand surpassed that in Czechia, Slovakia, and Hungary. Companies leased […]
The organizers of Romania’s seaside festival Neversea unveiled the first artists for this year's edition. Maluma, Nick Carter, Bebe Rexha, G-Eazy, Mahmut Orhan, Don Diablo, and others are on the 2024 lineup. Maluma, the Colombian reggaeton and Latin-pop superstar known for his chart-topping hits and collaborations with artists like Shakira, Jennifer Lopez, The Weeknd, J […]
Digital nomad publication Freaking Nomads created an index of the best cities for digital nomads worldwide, and Bucharest took the ninth spot in the ranking. Coming out on top was Hoi An, Vietnam, with a score of 73.94 out of 100. The research looked at criteria influencing the appeal of cities for digital nomads, such […]
The electoral campaign for the June 9 local and European elections in Romania officially began on Friday, May 10, and will end on June 8. The Central Electoral Bureau urged all candidates and parties to maintain balanced and honest discourse and avoid distorting or manipulating information. The audiovisual electoral campaign will conclude on June 7 […]
