The Investments Committee has recently approved the money from the Fund for Modernisation for important investment projects, the total sum approved being almost 1.4 billion euro, announced the minister of energy, Virgil Popescu, on his Facebook page.According to the minister, it is about eight projects lodged by the Energy Unit Oltenia for the production of energy from renewable sources, worth 670.802 million ruto out of which 469.562 million euro from the Fund for Modernisation, the production being in the final stage of 735 MW. The projects aim at the construction of photovoltaic parks on the Rovinari Est area, on the closed deposits of ash and slag of THE ISALNITA SE, on closed deposits of ash and slag of THE SE Rovinari, on closed deposits of ash and slag of SE Turceni, On the inner hallway within the career Tismana 1 - Rosia-Rovinari and on the inner hallway within the career Tismana 2 - Rosia - Rovinari.Similarly, it is about two other projects CCGT for CEO namely Isalnita worth 506.250 million euro, out of which 253.125 million euro from the Modernisation Fund and Turceni, worth 335.009 million euro, out of which 167.505 million euro out of the Modernisation Fund. The total capacity will be 1,200 MW.At the same time, the funds include projects presented by Transelectrica worth 475.51 million euro, out of which 393.675 million euro from the Modernisation Fund, namely: LEA 400 kV Gadalin-Suceava, passage to the 400 kV line voltage of the iron gates - Resita - Timisoara - Sacalaz - Arad. Stage II, passage to 400 kV line voltage iron gates - Resita - Timisoara - Sacalaz - Arad.stage III, passage to 400 kV LEA Braazest Vest - Teleajen - Stalpu, a pilot project - upgrading of the Alba Iulia station in the concept of a digital station, Installation of two modern means of compensating reactive power in Sibiu Sud and Bradu stations, optimization of the existing LEA 400 kv operation in the SEN, used in the interconnector and for the evacuation of power from the Cernavoda nuclear power plant and the renewable energy plants in Dobrogea, through installment of online motorization systems (SMART GRID) and counting system and electricity measuring data system on the wholesale market.‘There were also approved funds for the modernization of the electricity distribution grids, worth 1.2 billion euro, out of which 100 million euro will be allocated this year. During the period to come, the emergency ordnances for the regulation of the institutional framework and financial flows to make the Modernisation Fund more operational. We will continue to invest in the period to come so that Romania will become energetically independent.
The number of people in Romania at risk of poverty stood at 3.59 million people in 2024, 375,000 fewer than in 2023, representing a 9.4% decrease, according to data from the National Institute of Statistics, or INS. Despite the improvement, nearly one in five Romanians was affected by poverty last year. According to INS, 19% […]
The European Public Prosecutor’s Office (EPPO) in Cluj-Napoca carried out multiple searches on Tuesday, July 1, at the Sibiu International Airport and the Sibiu County Council as part of an investigation into suspected fraud involving a EUR 54 million EU-funded infrastructure project. A total of 24 locations were searched across Bucharest, Brașov, and Sibiu county, […]
A Romanian taxi driver who scammed 90-year-old Nigerian Nobel Prize laureate Wole Soyinka was detained by police on Sunday, June 29, according to media reports. On Friday, June 27, the venerable Nigerian arrived at Bucharest's Otopeni Airport. He got into a taxi and asked to be taken to a hotel downtown. At the destination, the […]
Costin Șerban, a Romanian entrepreneur, is digitalizing the construction sector in the United Kingdom with an ERP (enterprise resource planning) solution developed over 12 years and an investment of GBP 1.6 million (EUR 1.86 million). Șerban’s cloud-based ERP platform is called Abilo, was developed by the Romanian IT company Obi Systems, and is dedicated to […]
Border checks between Bulgaria and Romania have officially been lifted on July 1, as part of the implementation of the Schengen Agreement. The lifting marks the end of the transitional period of heightened control at the internal border, which had remained in place for six months following their accession to the Schengen area by land […]
Remus Vulpescu became CEO of the Bucharest Stock Exchange (BVB) on Tuesday, July 1, taking over from Adrian Tănase as the stock exchange grapples with a market dominated by government bonds. Vulpescu, 53, is a graduate in political and legal sciences from the University of Bucharest and holder of an EMBA obtained in 2017. He […]
