The European Bank for Reconstruction and Development (EBRD) is lending €30.8 million to Moldova and its state-owned electricity company Moldelectrica to link the country’s network to that of its European Union neighbour, Romania, by constructing a high-voltage transmission line between the Moldovan city of Balti and the Romanian border, https://euneighbourseast.eu/ informs. Moldelectrica, which is implementing the European Union’s Third Energy Package, will also use the loan to rehabilitate its internal electricity transmission network and build a 400 kV (kilovolt) substation at Balti. The Balti-Suceava project, costing a total of €77 million, is co-funded by the European Investment Bank (EIB), which is also lending €30.8 million. The European Union’s Neighbourhood Investment Platform (NIP) will provide a €15.4 million grant. The project’s aim is to increase Moldova’s energy security by accelerating the country’s integration with the European grid, ENTSO-E, as well as to strengthen the country’s integration with its European neighbours. According to the EBRD, more than 80 per cent of electricity consumed in Moldova came historically from the unrecognised breakaway region of Transnistria, along with imports from Ukraine via a grid connecting several former Soviet republics. Since 2015, Moldova has been working to diversify sources through closer links with Romania, and has one interconnection line to Romania (the Vulcanesti-Issaccea line). With the start of Russia’s full-scale war against Ukraine in 2022, both Moldova and Ukraine quickly synchronised with the European grid. The Balti-Suceava line will further strengthen Moldova’s integration of Moldova with ENTSO-E and increase the country’s energy security.
Homedit, a Romanian brand of premium furniture and home décor, announces the official opening of its first showroom, located in an interwar house in central Bucharest ("The Bamboo House”, located at No.3, Dumbrava Roșie St.). With a total investment of approximately EUR 12 million, the business was founded in 2016 as an online store by […]
The 32nd edition of the Sibiu International Theatre Festival (FITS) begins on Friday, June 20, bringing over 5,000 artists from 82 countries to the city. The events will take place over ten days and will transform the city into an "open-air stage, with large-scale productions, impressive installations, parades, fire shows, live music, aerial dances, and […]
The well-known science and nature channel Discovery is currently marking four decades since its global launch in 1985 with a special series titled "Discovery Changed My Life,” bringing testimonies from personalities whose vision was shaped by Discovery. Among those featured is also Romanian mountaineer and conservationist Alex Găvan. The series premieres on Sunday, June 22, […]
Meta Estate Trust (MET), a holding company operating in the real estate sector, has invested approximately EUR 2 million in a new retail park currently under development in Ciolpani, a commune located on the Bucharest–Ploiești corridor (DN1), it said. The project is scheduled to be completed and handed over to tenants this year, with an […]
Romania benefits from a series of favorable factors that facilitate the growth and expansion of data center capacity and could emerge as a developing market, according to an analysis conducted by the real estate consultancy company Cushman & Wakefield Echinox. A diversified energy mix, with over 50% of energy production coming from renewable sources, along […]
The German company DEHN, a manufacturer of electrical engineering solutions for critical infrastructure, including lightning and surge protection, as well as safety equipment, will open a production site in Piteşti, southern Romania. The facility, the company's first in the country, will expand its capacities to serve customers in Europe. It fits seamlessly into the company's […]
