Romania received the approval for a financing worth 200 million euro from the European Investment Bank (EIB), money that will be used for the modernization of the electricity distribution network, according to a press release of the financial institution . “On its way to energy independence, Romania has a huge need for investments in electricity networks, which is why, in my capacity as a member of the Board of Directors of the European Investment Bank, I am happy to announce that I have approved at the EIB a financing in the amount of 200 million euros for our country, Romania thus takes another step towards achieving its goal of having a modern, solid and efficient electricity network, in order to become, thus, an energy independent country and a stability factor in the region,” said Mihai Precup, member of the EIB’s Board of Directors. He stated that the financial institution he represents will co-finance a project that benefits from European funds and the beneficiary’s own resources. The value of the investment is 629 million euros, of which the European Investment Bank finances 200 million euros, the remaining 295 million euros from European funds, and 134 million from own sources. According to the quoted source, the EIB operation in favor of Romania refers mainly to the consolidation and renovation of Romania’s stations, substations and overhead lines in order to expand the electricity distribution capacities of its network, to facilitate the absorption and distribution of electricity from the installations generation from renewable sources and to reduce self-consumption. The objective includes elements of the Carmen 1 project, a smaller sub-component of the overall operation (approximately 10-15% of the total investment of the operation) and a European Union (EU) regional and transnational Project of Common Interest (PCI) involving networks of electricity from both Bulgaria and Hungary. Practically, the key purpose of the investment is the expansion of the connections from renewable sources to the networks and the improvement of the interconnection between the transmission and distribution networks in Romania, Bulgaria and Hungary.
An earthquake of magnitude 5.4 shook Romania’s capital Bucharest and parts of Eastern Romania on Monday afternoon, September 16, around 17:40. No damages were reported after the event. According to the National Institute for Earth’s Physics (INFP), the earthquake occurred in the Vrancea seismic area, some 56 km North-West of Buzau and 59 km East […]
Romania and the United States, through the head of the prime minister’s chancellery Alexandru-Mihai Ghigiu, and the US ambassador to Romania, Kathleen Kavalec, have signed a five-year Child Protection Framework Partnership valued at USD 10 million. The purpose of the partnership is to create a victim-centered prevention strategy and protect child victims of trafficking, according […]
A snow layer of around 5 cm has fallen on Romania’s Transalpina mountain road, at altitudes over 1,900 meters, according to Gorj County authorities. The snow is particularly present in the Dengherul - Cărbunele sector, and visibility is reduced due to fog. The Gorj Mountain Rescue Service (Salvamont) advises drivers intending to cross Transalpina over […]
Nobel Prize for Literature winner Abdulrazak Gurnah, Irish novelist, poet and playwright Colm Tóibín, Spanish author Clara Usón, Israeli writer Zeruya Shalev, and French novelist and essayist Pascal Bruckner are among the guests of this year’s Iaşi International Festival of Literature and Translation (FILIT). The event, scheduled to take place between October 23 and October […]
Hanwha Aerospace, the largest defense company in South Korea, will begin construction of an armored vehicle factory in Romania at the beginning of next year, according to News.ro. The group plans to make Romania a regional hub for all Hanwha's land...
Turda Salt Mine (Salina Turda), one of the most spectacular tourist destinations revealing Romania’s underground wonders, will expand under a project set to kick off in 2025. The plan is to open another mine to tourists, which, local authorities say, would double the number of visitors. The project targets the 10,000 sqm Iosif mine, which […]
