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.”
Romania aims to add 2,500 MW of new capacity to its energy system by 2025, through investments in new energy-producing facilities and other projects co-financed with European funds. The government is eyeing facilities at Iernut, Mintia, Răstoliţa, and Năvodari for investment. “Energy is the heart of the economy. Without reliable and cheap energy, there is […]
The European Court of Human Rights ruled on Tuesday, January 7, that the Romanian state must return 17,000 hectares of land to the Borșa Landowners’ Association within 12 months of the decision becoming final. The claimants in the case are 53 Romanian citizens whose land was confiscated by the communist regime. The Court found a […]
Dacia Sandero will most likely be the best-selling car in Europe in 2024, according to preliminary data covering 97% of sales in the EU, European Free Trade Association countries, and United Kingdom. Looking at the provisional rankings, the Sandero leads the Top 10 with 247,210 units sold in the first 11 months of 2024, followed […]
NATO’s Exercise Steadfast Dart 25 is set to bring thousands of soldiers to the alliance’s eastern flank countries like Romania and Bulgaria, with the UK contributing a sizable force to the military show of strength. The exercise, taking place throughout January and February 2025 and reuniting forces from 10 NATO countries, is meant to practice […]
The first fixed speed detection devices have been installed on Romania’s A1 and A2 highways and the national road DN2 in Vrancea County as part of the e-SIGUR system. The offending drivers will have fines sent to their homes. The e-SIGUR system will monitor the main roads in Romania, aiming at higher degrees of safety. […]
A Hilton Garden Inn hotel is scheduled to open in Craiova, in southern Romania, in 2026, after local company Restaurant President signed a franchise agreement with international hotel group Hilton. The hotel will have 179 rooms, a restaurant, a fitness center, and several conference rooms, the local company announced. "Addressing both business tourists and those […]
