The Diplomat-Bucharest

04/09/2024

ENGIE Romania expands its renewable energy production portfolio with its first hybrid plant (wind and solar), with a total installed capacity of 57 MW. Located in the commune of Gemenele in Brăila county, the hybrid plant will generate approximately 140 GWh annually, equivalent to the annual electricity consumption of over 46,800 households.

ENGIE Romania expands its renewable energy production portfolio with its first hybrid plant (wind and solar), with a total installed capacity of 57 MW. Located in the commune of Gemenele in Brăila county, the hybrid plant will generate approximately 140 GWh annually, equivalent to the annual electr...

04/09/2024

Restart Energy has completed the construction and installation of a photovoltaic project for the company Mobilaiud worth more than 850,000 euro. The project consists of 2,195 panels located both on the ground and on the roof of two buildings belonging to the beneficiary, in the commune of Rădești, Alba County.

The panels cover an area of 12,000 square meters and will produce 1,130 MWh of energy per year, about 95 percent of the company’s energy needs.

“The transition to green energy is a necessity for companies in all industries, and the demand for the installation of photovoltaic projects is growing. These investments are also supported by ongoing government initiatives, such as the National Recovery and Resilience Plan (PNRR), projects under the Rural Investment Financing Agency (AFIR), the Modernization Fund and Electric Up 2. In this context, Restart Energy aims to strengthen the segment of corporate customers interested in renewable energy projects and the development of its own large photovoltaic parks”, says Armand Domuța, CEO & Founder Restart Energy.

Restart Energy has completed the construction and installation of a photovoltaic project for the company Mobilaiud worth more than 850,000 euro. The project consists of 2,195 panels located both on the ground and on the roof of two buildings belonging to the beneficiary, in the commune of Rădești,...

04/09/2024

PPD Global, one of the leading local distributors of premium beverages, has invested 500,000 Euro in equipping its logistics center in Bucharest with modern photovoltaic panels with a total installed power of 405 kWp. PPD Global’s total investment in the logistics center amounts to 6.2 million Euro over the last five years.

PPD Global, one of the leading local distributors of premium beverages, has invested 500,000 Euro in equipping its logistics center in Bucharest with modern photovoltaic panels with a total installed power of 405 kWp. PPD Global’s total investment in the logistics center amounts to 6.2 million Eur...

04/09/2024

The first half of 2024 saw real estate transactions in Romania totaling 419 million euros, an increase of two and a half times compared to the same period last year, according to Colliers’ report on the real estate market’s evolution in the first half of the year. The outlook remains favorable, and with a significant volume of transactions in the pipeline – some of which involve owners seeking quick completions – reaching the 1 billion euro threshold in 2024 seems like an achievable goal, according to Colliers consultants.

The first half of 2024 saw real estate transactions in Romania totaling 419 million euros, an increase of two and a half times compared to the same period last year, according to Colliers’ report on the real estate market’s evolution in the first half of the year. The outlook remains favorable, ...

04/09/2024

The National Power Transmission Company Transelectrica, Georgian State Electroysstems, AzerEnerji and MVM Electrical Works have signed the shareholders’ agreement of the project company Green Energy Corridor Power Company with the headquarters in Romania which will perform the Green Corridor project, namely a direct current high voltage underwater cable which will connect Romania to Georgia through the Black Sea, the connection being extended in Hungary and Azerbaijan.

The National Power Transmission Company Transelectrica, Georgian State Electroysstems, AzerEnerji and MVM Electrical Works have signed the shareholders’ agreement of the project company Green Energy Corridor Power Company with the headquarters in Romania which will perform the Green Corridor proje...

03/09/2024

The “Green Corridor” project represents a matter of national security and a bold response to the energy trilemma, to the need to diversify energy resources in the region of the eastern flank, the Minister of Energy, Sebastian Burduja, said in a press conference.

“Almost two years ago, the “Green Corridor” project was launched in Bucharest. It is a strategic project for the entire European Union, for our entire society. Through this project, today we can launch the joint venture company that will help us carry out the Feasibility Study for the implementation of the project. Indeed, for us, this project is a matter of national security. We are talking a lot about the need for diversification. If you look at the energy map in the last few months, you will see that on on the eastern flank we pay a very high price and that’s because we don’t have enough diversification. The European market doesn’t work well enough. Cheaper energy sources don’t always reach the East, and that’s why we need additional routes for security, for competitiveness. Of course, we are talking about a “Green Corridor”, so we are talking about green energy”, said Minister Burduja.

The “Green Corridor” project represents a matter of national security and a bold response to the energy trilemma, to the need to diversify energy resources in the region of the eastern flank, the Minister of Energy, Sebastian Burduja, said in a press conference.“Almost two years ago, the “Gr...

03/09/2024

The Diplomat Bucharest organizes the Green Energy Conference dedicated to updates in the field on September 12 at InterContinental Athénée Palace Bucharest (former Athénée Palace Hilton Bucharest) Regina Maria Hall.

✏ Register on the event website here: https://greenenergy.thediplomat.ro/

In the face of unprecedented environmental challenges, our imperative to embrace green energy solutions has never been more urgent. Today, we find ourselves at the intersection of necessity and possibility—a moment in history where the choices we make can redefine the trajectory of our planet.

We welcome Cristian Pirvulescu, CEO & Founder of ENEVO Group in the panel along with a strong line up of key opinion leaders in energy field, from authorities, associations and investors.

03/09/2024

The Diplomat Bucharest organizes the Green Energy Conference dedicated to updates in the field on September 12 at InterContinental Athénée Palace Bucharest (former Athénée Palace Hilton Bucharest) Regina Maria Hall.

✏ Register on the event website here: https://greenenergy.thediplomat.ro/

In the face of unprecedented environmental challenges, our imperative to embrace green energy solutions has never been more urgent. Today, we find ourselves at the intersection of necessity and possibility—a moment in history where the choices we make can redefine the trajectory of our planet.

We welcome in the panel Mihnea Catuti, Head of Research, EPG - Energy Policy Group moderating the panel's session II along with a strong line up of key opinion leaders in energy field, from authorities, associations and investors.

03/09/2024

ROCA Industry, the first Romanian holding company in construction materials, listed on the main market of the Bucharest Stock Exchange (BVB) under the symbol ROC1, announces that shareholders have approved the proposal to initiate the company’s first bond issuance program on the local capital market.

The maximum nominal value is 50 million RON (approximately 10 million EUR), with a minimum threshold of 25 million RON, at which point the program will be declared successfully completed. The launch of this program may commence within the next two years.

ROCA Industry, the first Romanian holding company in construction materials, listed on the main market of the Bucharest Stock Exchange (BVB) under the symbol ROC1, announces that shareholders have approved the proposal to initiate the company’s first bond issuance program on the local capital mark...

03/09/2024

SIPEX, one of the largest distributors of construction and finishes materials from Romania, listed on the Bucharest Stock Exchange, on the AeRO market (symbol SPX), with over 27-year presence in this segment, announces a partnership with Menlo Electric, one of the leading providers in the photovoltaic components market. Through this partnership, SIPEX aims to deliver a complete package for photovoltaic projects, including solar panels, storage batteries, inverters, and cables.

SIPEX, one of the largest distributors of construction and finishes materials from Romania, listed on the Bucharest Stock Exchange, on the AeRO market (symbol SPX), with over 27-year presence in this segment, announces a partnership with Menlo Electric, one of the leading providers in the photovolta...

02/09/2024

Hidroelectrica signed contracts with the consortium formed by Hidroserv and UCMH for the modernization of the Vaduri, Remeți and Arcești hydroelectric plants.

02/09/2024

The Diplomat Bucharest organizes the Green Energy Conference dedicated to updates in the field on September 12 at InterContinental Athénée Palace Bucharest (former Athénée Palace Hilton Bucharest) Regina Maria Hall.

✏ Register on the event website here: https://greenenergy.thediplomat.ro/

In the face of unprecedented environmental challenges, our imperative to embrace green energy solutions has never been more urgent. Today, we find ourselves at the intersection of necessity and possibility—a moment in history where the choices we make can redefine the trajectory of our planet.

We welcome in the panel Catalin Cepisca, Senior Director Energy, Metals and Utilities Department, Raiffeisen Bank Romania along with a strong line up of key opinion leaders in energy field, from authorities, associations and investors.

02/09/2024

STRABAG Romania has been selected by the developer and investor PPF Real Estate as the general contractor for the construction of its new office building “The ARC”. This new development will bring a modern ten-story Class A office building to the 6th District of Bucharest.

The ARC will offer 30,000 square meters of premium office space, located near the Basarab metro station, in one of Bucharest’s rapidly expanding commercial districts. Construction is scheduled for completion in 2026.

STRABAG Romania has been selected by the developer and investor PPF Real Estate as the general contractor for the construction of its new office building “The ARC”. This new development will bring a modern ten-story Class A office building to the 6th District of Bucharest.

02/09/2024

tbi bank’s consolidated unaudited financial results for the first half of 2024 show a net profit of 23.2 million Euro, 17 percent higher than the 19.7 million Euro profit achieved for the same period of last year.

02/09/2024

The Intelligent Energy Association has implemented the seventh edition of the “Energy for Life” project, a step forward towards the goal of 0 homes without electricity.

At the end of August, for 9 houses in the village of Peste Valea Bistrii, belonging to the city of Câmpeni (Alba County), which have never been connected to the electricity grid, the difference between darkness and light will be made by simply pressing a switch, following the installation of photovoltaic panels within the “Energy for Life” project.

The Intelligent Energy Association has implemented the seventh edition of the “Energy for Life” project, a step forward towards the goal of 0 homes without electricity.

02/09/2024

The Diplomat Bucharest organizes the Green Energy Conference dedicated to updates in the field on September 12 at InterContinental Athénée Palace Bucharest (former Athénée Palace Hilton Bucharest) Regina Maria Hall.

✏ Register on the event website here: https://greenenergy.thediplomat.ro/

In the face of unprecedented environmental challenges, our imperative to embrace green energy solutions has never been more urgent. Today, we find ourselves at the intersection of necessity and possibility—a moment in history where the choices we make can redefine the trajectory of our planet.

We welcome in the panel Tiberiu Danetiu, Corporate Affairs & Retail Media Director, Auchan Retail Romania along with a strong line up of key opinion leaders in energy field, from authorities, associations and investors.

02/09/2024

MedLife, the largest network of private healthcare services in Romania, presents its financial results for the first half of the current year, highlighting a 24 percent increase in consolidated pro forma revenue, which reached RON 1.3 billion.

02/09/2024

Austriacard Holdings AG (ACAG) revenues and profitability growth accelerates in H1 2024 driven by technology segment expansion.

H1 2024 Group Revenues increase by 7.0 percent vs H1 2023 reaching 192 million Euro, driven by a near quadrupling of Digital Transformation Technologies’ revenues and good growth in the Document Lifecycle Management segment.

Net Profit after Tax reached 11.2 million Euro, and the margin stood at 5.9 percent.

Austriacard Holdings AG (ACAG) revenues and profitability growth accelerates in H1 2024 driven by technology segment expansion.

02/09/2024

Sphera Franchise Group, the largest group in the food service industry in Romania, has recorded a net profit of 40.6 million RON, up 109.4 percent in the first six months of 2024. The first half of 2024 was the best first semester in its history in terms of sales, EBITDA, and net profit. Compared to the same period last year, the Group saw a 6.4 percent increase in sales (reaching RON 740 million) and more than doubled its net profit. Sphera Group also achieved double-digit increases in restaurant operating profit and EBITDA.

Sphera Franchise Group, the largest group in the food service industry in Romania, has recorded a net profit of 40.6 million RON, up 109.4 percent in the first six months of 2024. The first half of 2024 was the best first semester in its history in terms of sales, EBITDA, and net profit. Compared to...

29/08/2024

The Diplomat Bucharest organizes the Green Energy Conference dedicated to updates in the field on September 12 at InterContinental Athénée Palace Bucharest (former Athénée Palace Hilton Bucharest) Regina Maria Hall.

✏ Register on the event website here: https://greenenergy.thediplomat.ro/

In the face of unprecedented environmental challenges, our imperative to embrace green energy solutions has never been more urgent. Today, we find ourselves at the intersection of necessity and possibility—a moment in history where the choices we make can redefine the trajectory of our planet.

We welcome in the panel Andrei Manea, Executive Director, RPIA - Romanian Photovoltaic Industry Association along with a strong line up of key opinion leaders in energy field, from authorities, associations and investors.

29/08/2024

Less than a month after the signing of the non-reimbursable financing contract through the Modernization Fund, the company Rețele Electrice Muntenia launches, through the public procurement information system, the procedure for the acquisition of works worth 58.4 million RON for a project in Mogoșoaia, Ilfov County.

Less than a month after the signing of the non-reimbursable financing contract through the Modernization Fund, the company Rețele Electrice Muntenia launches, through the public procurement information system, the procedure for the acquisition of works worth 58.4 million RON for a project in Mogoș...

29/08/2024

The Diplomat Bucharest organizes the Green Energy Conference dedicated to updates in the field on September 12 at InterContinental Athénée Palace Bucharest (former Athénée Palace Hilton Bucharest) Regina Maria Hall.

✏ Register on the event website here: https://greenenergy.thediplomat.ro/

In the face of unprecedented environmental challenges, our imperative to embrace green energy solutions has never been more urgent. Today, we find ourselves at the intersection of necessity and possibility—a moment in history where the choices we make can redefine the trajectory of our planet.

We welcome in the panel Elena Popescu, CEO of Elektra Renewable Support along with a strong line up of key opinion leaders in energy field, from authorities, associations and investors.

29/08/2024

MET Group inaugurated its second solar power plant in the Eastern Hungarian town of Kaba. The ‘MET Kaba II Solar Park’ site covers an area of 31 hectares in which more than 33,000 solar panels were installed.

The photovoltaic project is a result of an in-house, greenfield project development effort launched after the commissioning of the first MET Kaba Solar Park (KSP) in 2021. The Kaba II Solar Park project is adjacent to the KSP site and leverages on the existing grid connection infrastructure.

MET Group inaugurated its second solar power plant in the Eastern Hungarian town of Kaba. The ‘MET Kaba II Solar Park’ site covers an area of 31 hectares in which more than 33,000 solar panels were installed.

29/08/2024

Retail projects totaling more than 87,000 sqm were delivered throughout H1 2024, corresponding to a sharp increase when compared with the 30,000 sq. m new supply from the same period of 2023. This year’s evolution was mainly fueled by the second quarter completions, according to data from the Cushman & Wakefield Echinox real estate consultancy company.

Dana Radoveneanu, Head of Retail Agency: “Romania remains an important retail destination in Central and Eastern Europe (CEE), as developers continue to invest in new projects to support the retailers’ expansion plans. Whether there are retail parks, built mainly in smaller cities or shopping centers located in regional hubs, the retail sector is highly dynamic, in a context where Romania was the second most important beneficiary of such investments in CEE across H1, after Poland”.

Retail projects totaling more than 87,000 sqm were delivered throughout H1 2024, corresponding to a sharp increase when compared with the 30,000 sq. m new supply from the same period of 2023. This year’s evolution was mainly fueled by the second quarter completions, according to data from the Cush...

29/08/2024

The first half of 2024 saw a dynamic increase in the delivery of new retail projects, adding approximately 106,000 square meters to the total retail stock – more than three times the amount delivered during the same period last year, according to Colliers’ report on real estate market trends for the first six months of the year.

The second half of the year also looks promising, with around 250,000 square meters currently under construction. After years of new supply being dominated by retail parks in medium and small towns, Colliers’ consultants anticipate a shift in the retail market towards projects with larger investment volumes.

The first half of 2024 saw a dynamic increase in the delivery of new retail projects, adding approximately 106,000 square meters to the total retail stock – more than three times the amount delivered during the same period last year, according to Colliers’ report on real estate market trends for...

29/08/2024

The Diplomat Bucharest organizes the Green Energy Conference dedicated to updates in the field on September 12 at InterContinental Athénée Palace Bucharest (former Athénée Palace Hilton Bucharest) Regina Maria Hall.

✏ Register on the event website here: https://greenenergy.thediplomat.ro/

We welcome in the panel Adrian Frigea, Carbon and Climate Leader, Leroy Merlin along with a strong line up of key opinion leaders in energy field, from authorities, associations and investors.

29/08/2024

The Minister of Energy signed today 19 financing contracts, in the total amount of 100 million RON, within Investment 5 of the PNRR – Component 6 Energy – Ensuring energy efficiency in the industrial sector.

“The contracts signed today will help economic operators in the industrial sector to more easily manage their energy costs and increase their production. From the beginning, through this call, we signed 48 contracts totaling over 525 million RON. This funding will help businesses upgrade their equipment and implement energy efficient solutions. These significant investments will allow companies to reduce their production costs, increase competitiveness and contribute to the development of the national economy. The modernization of equipment and the implementation of energy management systems will bring significant benefits: reducing energy consumption by up to 70% on specific components, reducing carbon emissions and – very importantly – increasing the competitiveness of the Romanian economy. Higher incomes for the Romanian capital mean better-paid jobs”, declared the Minister of Energy, Sebastian Burduja.

The Minister of Energy signed today 19 financing contracts, in the total amount of 100 million RON, within Investment 5 of the PNRR – Component 6 Energy – Ensuring energy efficiency in the industrial sector.

29/08/2024

Meta Estate Trust announced its financial results for the first half of the year. The company reported total revenues amounting to RON 19.19 million (H1 2023: RON 6.63 million) and a net profit of RON 6.31 million (H1 2023: RON 2.89 million), which is double the net profit recorded in H1 2023.

As of June 30, 2024, total assets increased to RON 114 million, up slightly from the end of 2023, while the investment portfolio reached RON 108 million, up by 6 percent during financial year 2024.

Meta Estate Trust announced its financial results for the first half of the year. The company reported total revenues amounting to RON 19.19 million (H1 2023: RON 6.63 million) and a net profit of RON 6.31 million (H1 2023: RON 2.89 million), which is double the net profit recorded in H1 2023.