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.”
More than 390,000 people visited the retrospective dedicated to the Romanian sculptor Constantin Brâncuşi at the Centre Pompidou in 2024, the museum announced. The show, which closed its doors on July 1 of last year, had a daily average of nearly 5,000 entries, the institution said. Overall, the Centre Pompidou welcomed 3,204,369 visitors in 2024, […]
The Romanian-American actor Sebastian Stan won his first Golden Globe for his role in the film A Different Man. In his acceptance speech, the artist thanked the people on his team and the film crew, as well as his parents, and concluded his speech by saying “România, te iubesc” (Romania, I love you). In the […]
Former Liberal (PNL) president Crin Antonescu declared his presidential candidacy "unilaterally suspended." Antonescu had accepted to run for president after the proposal of the ruling coalition formed by the Liberals (PNL), Social Democrats (PSD), the Democratic Alliance of Hungarians in Romania (UDMR), and the minorities' group in Parliament. Antonescu confirmed his commitment to running in […]
The decision of the Romanian Constitutional Court (CCR) to annul the presidential elections is considered by most respondents (28%) as the most important event of the year 2024 in Romania, according to an IRES telephone survey. CCR's decision to cancel the first round of the presidential elections is considered good by just over a third […]
Moldova will import from Romania some 62% of the electricity it needs in January for the territory controlled by the constitutional authorities (not including separatist region Transnistria), and the imports’ instant share will drop towards 50% only during night hours when the consumption decreases, according to the projections drafted...
The 7%-of-GDP public deficit target is "extremely restrictive," but the Finance Ministry will do its best to avoid VAT and income tax hikes this year, the Minister of Finance Tanczos Barna said on December 30, speaking of the 2025 budget planning. This year's budget could be approved by the end of January if things go […]
