In the application of the Agreement between the Governments of the Republic of Azerbaijan, Georgia, Romania and Hungary regarding the Strategic Partnership in the field of Green Energy Development and Transport – “Green Energy Corridor” Project, CNTEE Transelectrica SA and the other relevant parties designated at the level of each state, respectively AzerEnerji JSC, Georgian State Electrosystem and MVM Zrt., signed on Monday, May 27, in Bucharest, a Memorandum of Understanding by which they agree to make the necessary efforts to undertake the steps regarding the establishment of a Joint Venture type company, based in Romania. The signing ceremony of this Memorandum of Understanding was attended by Mr. Mircea Abrudean – Secretary General of the Government of Romania, Mr. Dan Dragos Dragan – Secretary of State within the Ministry of Energy and Mr. Gabriel Andronache – Vice President of the National Energy Regulatory Authority (ANRE) . The Joint Venture type company for the establishment of which the start of the establishment steps was approved, would ensure the implementation of the “Green Energy Corridor” Project, in accordance with the agreement between the Governments of the states of Azerbaijan, Georgia, Romania and Hungary. The memorandum signed in Bucharest between CNTEE Transelectrica SA, AzerEnerji JSC, Georgian State Electrosystem and MVM Zrt., lays the foundations for the general framework of understanding of the four relevant parties regarding the initiation of procedures for the establishment of the Joint Venture type company, provided that statutory agreements are obtained prior incidents to each individual company. In this sense, Compania Nationala de Transport al Energiei Electrice Transelectrica SA, following the establishment of adequate complete information regarding the new Joint Venture type company, is to convene the General Meeting of Shareholders to obtain approval for participation in its share capital. The “Green Energy Corridor” is an ambitious project agreed by the governments of Azerbaijan, Georgia, Romania and Hungary, with the support of the European Commission, which will integrate regional energy capacity and provide electricity at competitive prices from renewable sources, in line with the current targets of energy transition at the level of the European Union. CNTEE Transelectrica SA, designated by the Government of Romania as a relevant party in this project, collaborates closely with the other relevant parties from the partner states in order to achieve the objective of this extremely complex project, namely the evaluation of the production potential and clean energy exchanges in the Caucasus area/ Europe and related infrastructure design, taking into account technical, economic and regulatory aspects.
Real estate developer Globalworth has begun construction on Green Court D, the fourth building in its Green Court office complex in Bucharest’s Aurel Vlaicu area. Scheduled for completion in 2027, the project is now in its preliminary phase, which includes enclosure works and excavation for the basement structure, the company said. The new building will […]
Romania’s National Committee for Emergency Situations decided to distribute drinking water from the state reserves to 13 localities in the counties of Prahova and Dâmboviţa. The area was severely impacted by a drop in water levels at the Paltinu Dam, leading to problems in the water distribution system and affecting over 100,000 people, local hospitals, […]
Rock star Marilyn Manson will return to Romania next summer to perform at Rockstadt Extreme Fest, organizers announced on Tuesday, December 2. He is among the headliners confirmed for the local rock and metal festival, which will take place from July 27 to 31 in Ghimbav, Brașov county. “For the first time ever, Marilyn Manson […]
Romania’s government has assumed responsibility in Parliament for legislation reforming magistrates’ pensions, prime minister Ilie Bolojan announced on December 2. He said the draft law had received the opinion of the High Court of Cassation and Justice, noting that the court’s assessment was negative. It is the government’s second attempt to have the bill promulgated, […]
Romania Education Alliance (REA), the first private school network in the country, announced it has exceeded the milestone of 1,000 students enrolled across its member schools just one year after launch. "The fact that we surpassed 1,000 students in our very first year of activity shows that the REA model addresses a real need in […]
Genesis College, one of the largest private educational institutions in Romania, announced the regulatory approval of the transaction through which the investment firm Mozaik Investments becomes its majority shareholder. The transaction, signed at the end of July, received all necessary approvals from the Competition Council on November 25, and, formally, the entire investment procedure is […]
