The European Investment Bank (EIB) granted Distribution Electric Energy Romania (DEER), the distribution operator within the Electrica Group, a loan worth 200 million euros to modernize its network which covers 40% of Romania's territory and serves approximately 4 million households and businesses, informs a press release from Electrica."Electrica's smarter and more resilient infrastructure will mean easier operations for the businesses it serves, better living conditions for people and, in general, a greener environment for everyone. Romania's electricity network urgently needs investment to manage the aging of the infrastructure in the context of the increase in demand for electricity", said EIB Vice President Ioannis Tsakiris, quoted in the release.The loan, which can be paid in euros or lei, will help DEER better serve its customers, improve energy efficiency and facilitate the connection of renewable energy sources."In times when we need financing for our ambitious development, the EIB's support is a clear sign to the market that we are reliable and competitive. We are also happy to contribute to Romania's and the EU's energy and climate plans", said Alexandru Chirita, general manager of Electrica.The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its member states. It finances investments that contribute to EU policy objectives. EIB projects strengthen competitiveness, stimulate innovation, promote sustainable development, strengthen social and territorial cohesion and support a fair and rapid transition to climate neutrality.The EIB Group, which also includes the European Investment Fund (EIF), has signed new financing worth a total of 88 billion euros for over 900 projects in 2023. These commitments are expected to mobilize around 320 billion euros in investments, which will support 400,000 enterprises and 5.4 million jobs.DEER serves approximately 4 million users with a coverage of 18 counties in three geographical areas for the distribution of electricity: Northern Transylvania, Southern Transylvania and Northern Muntenia. Since July 2014, Electrica S.A., the group's holding company, has been listed on the Bucharest and London Stock Exchanges.
Baroque and romantic operas, contemporary works, and film music are part of this year's edition of the Athenaeum Summer Festival, set to take place between June 14 and 25. The program includes two concerts on the Athenaeum Esplanade, with free admission, and three performances at the Athenaeum's Great Hall, featuring the George Enescu Philharmonic Choir […]
Ovidiu Maitec 100, a retrospective on the work of Romanian sculptor Ovidiu Maitec, will open at the Brukenthal Museum in Sibiu on June 20. The exhibition, which will open at the Brukenthal Palace in Sibiu’s Grand Square, is part of the Brukenthal Exhibition Season at the Sibiu International Theatre Festival. It will cover 50 works […]
Agroland, a Romanian entrepreneurial group present on the retail, agribusiness, food production and animal nutrition market, marked four years since the listing of Agroland Business System and Agroland Agribusiness on the AeRO market of the Bucharest Stock Exchange on Thursday, June 5. In this time, the company tripled its business and now plans to keep […]
Volker Raffel, CEO of E.ON Romania, has been elected as the new president of the Romanian-German Chamber of Commerce and Industry (AHK Romania), succeeding Andreas Lier of BASF. The announcement was made following the annual General Assembly of AHK Romania members held on Tuesday evening, June 3, where the leadership also confirmed a new board […]
Romanian handball player Cristina Neagu, who ended her career earlier this year, was nominated on Wednesday, June 4, for the European Handball Federation (EHF) Excellence Awards along with 46 other players from Europe, including seven from three Romanian teams. The third edition of the EHF Excellence Awards honors the best players of the 2024–2025 season. […]
The Transfăgărășan (DN7C), one of Romania’s most scenic mountain roads, will reopen to traffic on Friday, June 6, at 7:00 am, announced Cristian Pistol, the general director of CNAIR, the company that manages the road infrastructure. Tourists will once again be able to drive the iconic route, including the stretch between Bâlea Cascadă in Sibiu […]
