The budget allocated to energy in PNRR is 1.62 billion euro, the highest sum, of 515 million euro, to be directed to the infrastructure of gas distribution from renewable sources and the production capacities of green hydrogen, according to the interim minister of energy, Virgil Popescu.The minister presented on Friday on Facebook the investments in energy towards which the money allocated through PNRR goes. It is about new production capacities of electricity from renewable sources – 460 million euro, the development of a legislative framework and regulation favourable to the technologies of the future, especially hydrogen and stocking solutions – one million euro, infrastructure of gas distribution from renewable sources – using natural gas in combination with green hydrogen as a transitory measure) as well as production capacities for green hydrogen and/or its use for electricity storage – 515 million euro, the development of capacities of gas production, flexible and high efficiency, for the cogeneration of electricity and thermal energy (CHP) in the sector centralized heating, with a view to decarbonisation – 300 million euro, industrial chain of production and/or assembly and/or batteries recycling, cells and photovoltaic panels (including auxiliary equipment) and new capacities of electricity storage – 280 million euro, energy efficiency in the industrial sector – 64 million euro. ‘Due to these investments, radical changes will be made in the energy system of Romania! As a total, through PNRR, Romania will benefit from 29.2 billion euro. The money will be offered in installments, depending on the meeting some objectives, called landmarks and targets. As a total, there are 507 landmarks and targets to meet until 31st December 2026’ said Virgil Popescu.The president of the European Commission, Ursula von der Leyen, announced on her Twitter account that Romania’s PNRR was approved by the EU Council.
Moldovan carrier Flyone will add a route between Bucharest and Munich starting in October. The flights to Munich will be operated on Mondays, Wednesdays, and Fridays. This adds to the flights it has connecting the Romanian capital to Tel Aviv, Brussels, and Verona. With these routes, the airline is responding to the constant demand from […]
Romanian electricity distributor and supplier Electrica listed the largest issue of green, corporate, and non-financial bonds on the Romanian capital market, reaching a total value of EUR 500 million, on July 30. The bonds, with the stock symbol EL30E, are registered, non-convertible, unsecured, denominated in euro, have a nominal value of EUR 1,000 each, and […]
Dracula Film Festival, the event dedicated to horror and fantasy film, has opened the call for entries in its four competition sections. The festival runs four competition: Dracula Trophy, an international feature film competition; Little Dracula, an international short film competition; Vladutz, a Romanian short film competition; and Dracula Digital, a competition dedicated to young […]
Investment firm Mozaik Investments has acquired a majority stake in Genesis College, a large private educational institution in Bucharest. After receiving all approvals, Mozaik will provide growth capital to accelerate the development of the educational network through investments in new campuses and the expansion of schooling capacity, as well as the development of the International […]
The Romanian investment fund market has surpassed the threshold of one million investors. Moreover, the net assets of the 248 open-ended and closed-ended funds reached RON 51.8 billion (EUR 10.2 billion) in June, according to data from the Romanian Fund Managers Association, or AAF. Specifically, 1,007,481 people in Romania had money in the local and […]
Local authorities in Hunedoara announced investments worth RON 200 million for the King’s Road, which connects the spa resort Vața de Jos, in Hunedoara County, and the Royal Castle at Săvârșin. The road was built in the post-war period by order of King Michael I of Romania and was paved with cobblestone. Now, the authorities […]
