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.
JTI, one of the world’s largest manufacturers of tobacco and vaping products, established a technological hub in Romania, with about 140 employees currently and considering further expansion. The new center provides business technology solutions, data and analytics, software engineering, cyber security, and infrastructure & operations. The experts in Bucharest provide information technology support for all […]
Elena Lasconi, the president of the opposition party USR, said that she is working with her colleagues on drafting a no-confidence motion against the government headed by Social Democrat leader Marcel Ciolacu. She also urged the Liberals and their president, Nicolae Ciucă, to back USR's action. "I met thousands of soldiers, I have also been […]
American basketball player Marie Tyra Whitehead, aged 26, was found dead in the apartment where she lived, according to an announcement by Romanian basketball club CSM Târgoviște. Authorities stated that initial examinations revealed marks consistent with hanging on the athlete’s body, but the police are continuing their investigation to determine the exact circumstances of her […]
Romanian MEP Diana Șoșoacă was penalized for disrupting a session of the European Parliament in July of this year. She will be unable to participate in the Parliament's plenary session for seven days, during which time her daily allowance will be withheld, MEP Sigfried Mureșan announced. Back in July, the fiery far-right politician Diana Șoșoacă
Artificial intelligence (AI) technology is becoming increasingly popular in companies in Romania. According to a recent study by the consulting company VUCAMIX, 86% of companies in the local market have already adopted AI, in various forms. However, in 40% of cases, it was the personal initiative of the employees, not a company decision. The study […]
Bringo, the first brand to bring grocery delivery services to Romania, together with Carrefour Romania, announces a new and innovative feature: the collection of refundable packaging as part of the Deposit Return System - SGR for orders placed from Carrefour hypermarkets. This partnership promotes responsible shopping and continues the e-grocery advancements led by the two […]
