* The European Commission pays REPowerEU pre-financing to Romania, Belgium, Croatia, Cyprus, Finland, Greece, Italy, Latvia and Spain under the Recovery and Resilience Facility. Today, 25 January, the European Commission paid the following pre-financing amounts related to REPowerEU funds under the Recovery and Resilience Facility (RRF): EUR 145,1 million to Belgium and EUR 585.1 million to Croatia in the form of grants and loans; EUR 20.9 million to Cyprus, EUR 25.4 million to Finland, EUR 158,7 million to Greece, EUR 551.2 million to Italy, EUR 26.9 million to Latvia, EUR 288 million to Romania in the form of grants and EUR 340 million to Spain in the form of loans. These pre-financing will help accelerate the implementation of the main investment and reform measures presented in each REPowerEU chapter. This will accelerate the achievement of the objectives of the REPOwerEU plan for energy saving, clean energy production and diversification of energy supply, with the aim of making Europe independent of Russian fossil fuels following Russia’s invasion of Ukraine. Payments made today follow the approval by the Council of the revised plans of these countries, which include a chapter on REPowerEU, and the signing of the financial agreements. Pre-financing, paid in one or two stages, represents up to 20 % of the additional funds requested to finance each country’s REPowerEU chapter. If the pre-financing is paid in two stages, the second part must be paid within 12 months of the payment of the first part.
Romanian Finqware (17th), Questo (18th), Footprints AI (21st), and Steepsoft AI (28th) are among the fastest-growing technology startups in the region, included in the main category of the Deloitte Technology Fast 50 Central Europe 2025 ranking. The ranking measures the growth rate between 2021 and 2024. This year's ranking, now in its 26th edition, is […]
Verbund Wind Power Romania, the Romanian subsidiary of Austrian energy company Verbund, has selected a consortium comprising Prime Batteries Technology and Enevo Group for the supply and integration of a new Battery Energy Storage System - BESS with a capacity of 76 MWh and an absorption/delivery capacity of 48MW. Verbund operates a 226 MW wind […]
The union at the Automobile Dacia automobile factory in Mioveni expressed concern about the administration's proposal to reduce production, starting in January 2026. The production is reportedly planned to be reduced to 55 units per hour, from 65 units currently, according to the company's employees speaking for Europa FM, as reported by
Romanian prime minister Ilie Bolojan announced on November 21 that a decision will be taken in December regarding the minimum turnover tax (IMCA) applied to companies with a turnover of EUR 50 million or more, whose 16% profit tax falls below 1% of turnover, Economica.net...
Prime minister Ilie Bolojan, in a press conference on November 21, said that Romania took steps to protect the interests of state company Romgaz, which holds 12.2% in the Trident Black Sea offshore perimeter operated by Russia's Lukoil. He said that the authorities in Bucharest "collaborated" with the Office of Foreign Assets Control (OFAC) within […]
Kazakhstan's national oil and gas company, KazMunayGas, is set to partially divest its European assets, which include KMG International (KMGI, formerly Rompetrol Group) with Romania's largest refinery, Petromidia (4.8 million tonnes refining capacity), in its portfolio. KazMunayGas plans to sell up to 50% of its European holdings, according to
