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UK, EU: Post-Brexit farming must be based on migrant workers

преди 8 часа 11 мин.

Michael Gove was a leading Brexit champion, but as a Cabinet minister in charge of agriculture, he wants foreign farm workers to stay.

That might seem a strange stance given his role in the 2016 referendum, where immigration was a leading cause for the leave campaign he helped lead. But now he’s in a tough spot as rural affairs secretary because migrant works from the EU are already fleeing and putting the industry at risk.

On Tuesday he set out plans to provide special immigration rules for those British farms that rely on migrant workers to ensure they remain profitable as the U.K. quits the EU. His department will launch a consultation in the coming weeks on post-Brexit farming subsidies that will include a transition period for funding and labor, Gove told the National Farmers’ Union in Birmingham.

Gove has staged something of a political comeback since he bungled his leadership bid back in 2016 and fell out with his ally and friend Boris Johnson, who went on to become foreign secretary. It was Prime Minister Theresa May who brought him back into the fold in a reshuffle after the election and put him at helm of an industry that is among the most vulnerable to Brexit.

 

Read more about these critical British prospects on Bloomberg.

The post UK, EU: Post-Brexit farming must be based on migrant workers appeared first on EnergyWorld Magazine.

Romania, Italy: Talks between Ambassador Marco Giungi and PM Dancila were focused on joint energy and infrastructure projects

преди 8 часа 33 мин.

The Romanian Prime Minister Viorica Dancila, on Monday said upon welcoming the Italian Ambassador in Bucharest Marco Giungi, that our country is interested in drawing Italian investments with a view to having them participate in the Romanian infrastructure’s upgrading plan and also seeing them involved in the energy, the IT&C or high-edge technology’s fields, a Government release informs.

The two high officials hailed the excellent bilateral relationship, grounded on two decades of Strategic Partnership and one decade of Consolidated Strategic Partnership, respectively.

Moreover, the Prime Minister appreciated the extraordinary dynamic of the sectorial bilateral dialogue, in view of resuming the political dialogue at governmental level.

Dancila and Giungi have also expressed satisfaction for the very good level of the economic relations, the Romanian-Italian commercial exchanges’ value in 2017 reaching a record level of almost 14 billion euro, the highest in the last 10 years.

Prime Minister Dancila hailed the tight cooperation between the two countries’ authorities in the internal affairs and labour, with the aim to ensure the Romanians in Italy (the largest foreign community in the peninsula) the best living conditions.

The Government release also informs that the parties have addressed the cooperation at European level, Romania and Italy having close outlooks in the key files such as the EU future, the Post 2020 Multiannual Financial Framework and the cohesion policy.

 

 

 

Source: Government press release.

The post Romania, Italy: Talks between Ambassador Marco Giungi and PM Dancila were focused on joint energy and infrastructure projects appeared first on EnergyWorld Magazine.

Romania: Biggest oil refiner sees record production, lower profit

Пон., 02/19/2018 - 11:51

Rompetrol Rafinare, which owns the biggest oil refinery in Romania – Petromidia, recorded a consolidated net profit of USD 22 million in 2017, down by 62% compared to 2016, despite record production levels.

The group’s gross turnover went up by 16%, to USD 4.15 billion, and the operational profit before interest and amortization (EBITDA), increased by 13%, to USD 211 million.

The drop in the net profit was determined by a one-off transaction related to changes in the group’s accounting policies on fixed assets, according to the company’s preliminary report.

“The Petromidia Refinery has reached last year a new historical daily processing record since the incorporation of the industrial platform (1979), 5.66 million tons per year, the equivalent of 16,800 tons per day, up by 5% than the level of 2016. The main technological and operational parameters have reached unprecedented levels, such as the motor gasoline quantity produced by the refinery (1.46 million tons) or the diesel quantity (2.74 million tons), as well as the propylene quantity – 133,000 tons,” said Yetil Utekov, General Manager of Rompetrol Rafinare.

The company’s financial results were also positively influenced by the gross refining margin which in 2017 has improved by 20% against the 2016 one.

Rompetrol Rafinare sells the fuel processed by the Petromidia refinery through over 800 gas stations in Romania and on the markets in Moldova, Bulgaria and Georgia. The company is 54%-owned by KMG International.

The post Romania: Biggest oil refiner sees record production, lower profit appeared first on EnergyWorld Magazine.

Romania: Power grid operator Transelectrica’s profit drops by 90%

Пон., 02/19/2018 - 11:39

Romania’s state-controlled power grid operator Transelectrica recorded a 90% drop in its net profit in 2017, to RON 26.4 million (EUR 5.8 million). In 2016, the company had a net profit of close to EUR 60 million.

The profit drop was determined both by a decrease in profit from profit allowed activities due to the reduction of the transport tariff by 10% compared to the same period last year and especially by the recording of a significant loss corresponding to the activities carried out based on a zero-profit regulatory model, according to the company’s preliminary report.

The company transported 2% more electricity in 2017 but the average transmission fee was 10% lower, resulting in an 8% decline in transmission revenues, to RON 1.05 billion (EUR 231 million). The operational profit (EBIT) from transmission activities thus went down by 45% to RON 146 million (EUR 32 million).

On the technological services segment, a zero-profit regulated activity, the company recorded losses of over EUR 17 million, compared to a profit of over EUR 19 million in 2016.

Romania’s electricity consumption went up by 2.3% last year, to 56.9 TWh, while the local production was 1.4% lower, at 59.8 TWh. Electricity exports thus declined by 16%, to 6.1 TWh, according to Transelectrica’s data.

The post Romania: Power grid operator Transelectrica’s profit drops by 90% appeared first on EnergyWorld Magazine.

Romania: New car registrations in January has the highest growth rate in Europe

Пет., 02/16/2018 - 14:21

Romania’s car market went up 66.4% in January, with some 12,000 new cars registered, the highest growth rate in Europe, according to the European Carmakers Association, ACEA.

The European market too grew twice as fast in January than throughout the whole 2017: 6.8% up in January, after 3.3% increase in 2017. After Romania, the second-highest growth came from Spain, 20.3%, followed by Germany – 11.6%, Italy – 3.4% and France – 2.5%. UK was the only market on a downwards trend, for the tenth month in a row.

January is usually a good month for car sales, as people decide for a purchase after putting off such acquisitions at the end of the previous year.

 

Source: ACEA report.

The post Romania: New car registrations in January has the highest growth rate in Europe appeared first on EnergyWorld Magazine.

Romania: The country’s wildlife reserve pictured in Untamed Romania

Пет., 02/16/2018 - 14:10

Untamed Romania, a documentary on the country’s landscapes and rich wildlife, will make its international debut on March 18, at an ecological film festival in Washington, US.

It is distributed in local cinemas by Transilvania Film, beginning April 13. In London, it will premiere on May 9 at the British Academy of Theater and Arts (BAFTA).

The feature length documentary is made in collaboration between Auchan Romania, Off the Fence, and The European Nature Trust. It is narrated by award-winning Romanian film and stage actor Victor Rebengiuc.

From the Danube Delta to the Carpathian forests, Untamed Romania looks at “one of the wildest and most beautiful parts of Europe.”

The proceeds from the BAFTA screening will be donated to the Conservation Carpathia Foundation, which seeks to contribute to the conservation and restoration of the natural Carpathian ecosystem by all means possible, which include the creation of a National Park in Romania’s largest and most inaccessible mountain range, The Fagaras Mountais.

 

You can watch the Documentary Trailer on Youtube.

The post Romania: The country’s wildlife reserve pictured in Untamed Romania appeared first on EnergyWorld Magazine.

DEPA’s vision and strategic goals in the Greek & Southeastern energy market

Вт., 02/15/2018 - 16:36

Mr. Dimitris Tzortzis, CEO of the Greek Public Gas Company DEPA, presented today the vision and strategic goals of the energy company in the Greek and Southeastern energy market.

To be more spesific, Mr. Tzortzis, speaking at the Athens Energy Forum 2018, said that DEPA’s vision is to be a strong regional energy company offering quality and innovative services enhancing the society’s welfare. “2018 is a company benchmark year with 2 main goals,” he pointed.

– DEPA’s entry to the retail energy market

– The launch of the tendering process for DEPA’s privatization

In parallel DEPA will continue to pursue the main strategic goals namely:

– To preserve our leading role in the liberalized competitive domestic and regional market.

– To take advantage of the geographical position and the energy potential of Greece.

– To increase the natural gas penetration in the Greek energy market.

– To create a modern and economically efficient organization.

IGB: Start of construction planned for Q3 2018

Regarding the Interconnector Greece-Bulgaria (IGB) pipeline, Mr. Tzortzis said that the start of construction is planned for the third quarter of this year.

“The project is in its final phase before the start of construction. TPA exemption application is being
assessed by NRAs. The Exemption Decision is expected by the end of April 2018.Call for tender for Owner’s Engineer and procurement of Line Pipe launched in November & December 2017, respectively,” he said.

EastMed: Feasible & competitive pipeline

The East-Med pipeline is “technically feasible”, “economically viable” and “commercially competitive”, according to the CEO of DEPA.

“In January 2018, East Med has been selected for a second CEF grant of 34.5M€ , covering approx. 50% of the eligible costs next FEED phase, which will bring the project at FID status,” highlithed by Mr. Tzortzis

 

The post DEPA’s vision and strategic goals in the Greek & Southeastern energy market appeared first on EnergyWorld Magazine.

Romania: ANRM issues order establishing gas reference price be calculated depending on Vienna stock exchange

Вт., 02/15/2018 - 10:35

The National Agency for Mineral Resources (ANRM) issued on Friday the order establishing that the reference price for natural gas extracted in Romania, depending on which the royalty owed by producers to the state budget will be calculated, will take into account the quotations of the Vienna CEGH stock exchange, according to a pres release of the institution.

The order was sent for publication to the “Monitorul Oficial” (Official Journal) and will enter into force starting with its release date.

Thus, the reference price for natural gas extracted in Romania will be calculated depending on the trading prices on the hub of CEGH Vienna, also known as Baumgarten, based on a computation formula achieved together with the Petrol and Gas University in Ploiesti.

The post Romania: ANRM issues order establishing gas reference price be calculated depending on Vienna stock exchange appeared first on EnergyWorld Magazine.

Romania: Netherlands want to reach renewables target with huge Romania project

Вт., 02/15/2018 - 10:26

Dutch–registered company Nero Renewable is planning a 1,000 MW renewable project in Romania, in two large wind parks, which would make it the largest such project in Romania, local Economica.net reported.

Romania already has 4,000 MW of renewable energy projects installed.

The Dutch company, whose name is a short for Netherlands – Romania, plans to install 362 wind turbines in Buzau and Dobrogea areas. Once finalized, the two projects would produce 3 TWh of electricity, or 5% of Romania’s national production.

The Netherlands is trying to achieve its 2020 renewable energy target set by the European Union, and it can do so by transferring and supporting renewable energy production in another country. Romania has already achieved its target in 2015, when 24.7% of the energy production came from renewable sources, above the 24% target. The Netherlands needs to achieve a 14% target by 2020, and 23.9% by 2030.

Supporting the two projects in Romania would allow the Netherlands to achieve its target, as they stand for 2.6% of its national energy production. However, little has been revealed about the Dutch projects in Romania, and the electricity grid operator in Romania Transelectrica knows nothing about it.

The post Romania: Netherlands want to reach renewables target with huge Romania project appeared first on EnergyWorld Magazine.

Romania: Fondul Proprietatea isn’t waiting for Hidroelectrica listing to happen this year

Вт., 02/15/2018 - 10:21

Fondul Proprietatea (FP) isn’t waiting for Hidroelectrica listing to happen this year, as the process entails a series of steps, among which electing a fully-mandated supervising board, Franklin Templeton Investments CEO and Fondul Proprietatea Johan Meyer said on Wednesday. “We’re not waiting for a listing of Hidroelectrica to happen, as a matter of fact, what to want to actively engage in this process, but unfortunately, for various reasons, it hasn’t taken place, and really a process like this needs political will and support from the highest level in order to take it forward. But of course there are a couple of key-requirements, one of these being a fully-mandated supervising board,” Johan Meyer said.

The fund representative maintains that a possible listing would not be affected by the current market conditions, as it is an interesting asset for investors. Johan Meyer pointed out that in 2017 PF received from the company record dividends for the 2016 financial year, worth 206.6 million lei, by 53.5 percent more compared to the previous year. In September 2017, the company’s shareholders approved a special dividend of 655 million lei, which was paid by the end of the month. FP received 130.6 million lei.

The post Romania: Fondul Proprietatea isn’t waiting for Hidroelectrica listing to happen this year appeared first on EnergyWorld Magazine.

The boost of the PV technologies in Albania

Вт., 02/15/2018 - 08:50

The Albanian energy market has entered recently in a transformation that for many reasons was difficult to even be imagined only a few years before. We are referring to those that already have concrete developments or even still at the embryonic stage. We will focus on the binomial correlation from one side of the opening of the market as an essential obligation to comply to international commitments, and on the other the possibility that this offers on the increase of the use of alternative technologies, especially photovoltaic, not only for businesses but also by each family in Albania.

The above cannot be different, as electricity is a commodity distributed in the network, whose value is mainly related to the country and time at which it is available. In this sense, Albania has a significant potential of renewable energy, well distributed throughout its territory among the many hydroelectric and photovoltaic sources, far above the average of many other European countries. At the same time, depending on the continued support of traditional sources, the reference prices on the long-term markets of the region now have reached the lowest historical levels of 35-40 Euro/MWh. A low price that it is a subject of a strong fluctuations in the spot market, moving between much higher values such as those at 100-200 Euro/MWh.

To maximize the above, by putting into practice the EU’s Third Energy Package since 2015, depending also on the mandatory nature of the natural monopoly of electricity networks, and on the other with free option to pursue of the most appropriate model in terms of implementing the framework for investment in achieving the EU’s renewable targets within 2020, the need to advance with liberalization and opening up to the economies of scale offered from the regional energy market is becoming more and more pressing.

On the above, work takes place in parallel with the advancement of the national energy exchange platform (APEX), that of the intraday balancing market, and the expansion of network capacity distribution through the joint western Balkan auction office (SEE CAO) in Podgorica. Furthermore, by the end of 2018, the Albanian market is expected to be coupled with that of Kosovo, also passing on the adoption of the same mechanisms and protocols with the rest of the Balkans as well as beyond the Adriatic, and generally with the internal energy market of the EU.

Therefore, in the context of pan-European developments regarding electricity supply, the country is on the verge of beginning a free market that will be fully shaped by the dynamics of telematics exchanges (PXs). To enable this, the current market model and the accompanying rules determine the entry into the free market this year of large consumers that account for about 38% of consumption. Additionally, energy for losses about 26% of the total should be bought in the free market. Finally, for household customers accounting for the remaining 36%, regulated tariffs should be maintained as long as a liquid market is created, reflecting all real costs in the final energy tariffs.

To accomplish the above, it is being followed by the gradual opening of the vectorization for alternative suppliers in the distribution network, the latter for mid-voltage voltages in 35 kV, and by March 2017 for the first time even at low level and 20 kV. As a result, the distribution operator plans to invest significantly, the amount expected to reach about 350 million Euros in the next five years, with regard to administrative processes and especially technical automation to ensure the efficiency of the transition consumers from traditional to alternative energy supply.

Whether the above should come to practice depends on attractive offers covering the additional costs compared to the traditional supplier (OSHEE). Thus, despite the current profit margin of between 10-20% for companies that want to enter the supply segment, it allows commercial risk only in small and restricted parts of certain categories. Among other things, actual costs, currently calculated on average 6 lek/kWh for imported energy, will become more clear and comparable only after the launch of the KESH energy exchange and transit through it to OSHEE. Moreover, it will take a long time for private companies to form the necessary expertise, but what is more important to be complemented with the interventions that will be necessary from the practices.

However, everything opens up to the “gold” opportunity for a green development through a new and more efficient economic model, more resource-oriented, proactive consumption, cutting down emissions and the best protection of the natural environment, etc. Specifically, to meet the requirements repeatedly expressed by the World Bank reports, in particular “Doing Business 2014”, the recent interventions of the Ministry and the Energy Regulatory Authority have already opened the way for the network to receive energy input produced by businesses and households by generating distributed resources based on the net energy measurement scheme.

Thus, in parallel with the advancement of the system towards full market liberalization, the adoption of the structure of the transmission and distribution system is also increasing the opportunities for the use of alternative energies by consumers. In addition to attracting new customers to the free market, perhaps with the option of mid-term contracts at a fixed price for electricity which remains to be looked how attractive will be, the consumers at the same time have the opportunity if they are interested in accessing in a proactive way in generating energy for their needs.

Thus, the final solution of the binomial “alternative supply vs self-supply” seems to now depend only on the speed of competitive offers penetration, where the first companies entering the market will be rewarded with slightly lower cost of the system. However, the distributed photovoltaic energy resources have the advantage of avoiding network problems as they are produced directly in the place where their consumption is needed. In addition, out of the total number of consumers one third is located in the capital and the rest in the largest urban and rural areas of the western lowland or in other areas with high solar radiation such as Elbasan, Korça, etc.

Certainly, to meet the above-mentioned challenges, commercial and technical issues regulations remain essential. A framework in which the energy authority (ERE) should play a key role in securing market competition! Regulatory activity will still need to ensure that the network operator, currently public, does not restrict or condition consumers in any way or form of switching in terms of supply. In addition, it is essential that the distribution operator applies non-discriminatory and transparent rules and tariffs for all forms of distribution network usage.

Then, in summary, the Albanian energy network certainly has to invest a lot and for a long period of time to build a super-fast power network. But the upper liberalization reform can be translated into a catalyst not only for maximizing benefits from the integration of the Albanian energy market to economies of scale but also for the development of smart energy networks and what is more important, the efficient growth of the use of alternative energy technologies especially from the photovoltaic production by the business but also the family householders.

For more on above please find the related presentation kept by Dr Lorenc Gordani at the Western Balkans Second Regional Forum for Regional and Local Economic Development, Vlore, Albania, November 29-03, 2017.

Published in EnergyWorld magazine, January/February 2018 issue, #22

The post The boost of the PV technologies in Albania appeared first on EnergyWorld Magazine.

Romania: Annual inflation rate, highest level since July 2013

Вт., 02/15/2018 - 07:20

The annual inflation rate, which measures the evolution of consumer prices in the last year, climbed to 4.32% in January 2018, the highest level since July 2013, according to data released by the National Statistics Institute (INS).

In December 2017, the annual inflation rate went up to 3.32%, from 3.23% in November.

Food products were 3.79% more expensive in January 2018 than in the same month of 2017, on average, while the prices of non-food products went up by 6.23%. Meanwhile, the services’ prices increased by 0.9%.

Compared to December 2017, the highest price increases were recorded in January 2018 for gas (3.79%), other vegetables and canned vegetables (3.23%), fresh fruit (3.1%) and citrus fruit (2.58%). Also, the fuel price, which has a wider impact on other prices, increased by 2.42% month-on-month.

The post Romania: Annual inflation rate, highest level since July 2013 appeared first on EnergyWorld Magazine.

EU: The European Commission to further inspect air pollution rules breaching by member states

Ср., 02/14/2018 - 15:07

The European Commission will decide next month whether to take legal action against nine member states for breaching EU air pollution rules after they submitted plans to address the issue.

EU Environment Commissioner Karmenu Vella had told ministers from the nine nations, including the bloc’s biggest economies Germany, Britain and France, at a meeting last month that Brussels’ patience was running thin.

The countries, which also include Italy, Spain, Romania, Hungary, the Czech Republic and Slovakia, were given 10 days to present “additional credible, timely and effective measures” to reduce pollutants such as nitrogen oxide and particulate matter, a Commission spokeswoman said.

“The Commission can confirm that all member states concerned have submitted additional information, which we will evaluate,” the spokesman said. “We will come back to the matter in mid-March, he added.

The Commission estimates that 400,000 people die every year as a result of airborne pollution, and targets introduced for 2005 and 2010 are still being exceeded in 23 of 28 EU countries.

Germany, in a letter to the Commission dated Feb. 11 and seen by Reuters, said it was considering plans to make public transport free in cities suffering from air quality problems. It also outlined more conventional measures such as low emissions zones.

 

 

 

Read more on these legal aspects of European policy on Reuters.

The post EU: The European Commission to further inspect air pollution rules breaching by member states appeared first on EnergyWorld Magazine.

Europe: Hungarian PM Orban commented on new gas deal with Romania ending Russian supremacy in his country

Ср., 02/14/2018 - 14:26

Hungarian Prime Minister Viktor Orban says a forthcoming deal to import natural gas from Romania will mean an end to the “age of the Russian gas monopoly in Hungary.”

Orban said on February 9 that Hungary planned to get over 4 billion cubic meters of natural gas a year from Romania, and, as a result, improve the “geostrategic situation” of his country.

Orban said the Romanian imports were expected to account for over half of Hungary’s imported gas by 2021-22.

Orban said Hungary had already built the pipeline link to Romania. He said Romania was constructing its link with Hungary now.

Hungary is currently highly dependent on Russia for oil and gas. Russia is also expanding Hungary’s only nuclear power plant.

 

 

Source: RadioFreeEurope/RadioLiberty.

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World: The total value of the global offshore wind energy market is expected to reach USD 57.2 billion by 2022

Ср., 02/14/2018 - 14:14

Zion Market Research has published a new report titled “Offshore Wind Energy Market (By Foundation Type: Monopile, Jacket, Tripod, and Floating; and By Water Depth: Shallow Water and Deep Water): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global offshore wind energy market was valued at USD 20.3 billion in 2016 and is expected to reach USD 57.2 billion in 2022, growing at a CAGR of 16.2% between 2017 and 2022.

Wind power generation is the harnessing of kinetic energy from the wind and its conversion into electric energy. This is achieved through the utilization of wind turbines to generate electricity. Energy in the wind turns three propeller-like blades around a rotor. The rotor is connected to the main shaft, which spins the generator to produce electricity. Onshore wind energy has been utilized for many years however, offshore wind energy is a relatively newer phenomenon.

A large number of offshore wind energy projects are under planning and construction phase. Advantages of offshore wind energy installations include an overall reduction in project capital expenditure and unhindered primary fuel (wind) required for energy generation since wind speeds are high at offshore than onshore.

Growing share of renewable energy is expected to drive the global offshore wind energy market. Increasing awareness about climate change and technological development are expected to further boost the market. However, high costs, risks, and supply chain bottlenecks related to offshore wind energy projects are expected to hamper the growth of the market.

Global wind energy market is segmented on the basis of foundation type and water depth. On the basis of foundation type, global wind energy market is segmented into monopile, jacket, tripod, and floating. Monopile foundations held the leading share of global wind energy market. These type of foundations are easy to construct and relatively cheaper than other types. However, monopolies are not suited for deepwater projects. During the forecast period, floating type foundations are expected to grow at the fastest rate. Offshore floating foundations are advantageous over fixed structures in terms of the total cost incurred in installation and production. On the other hand, traditional offshore plants need fixing of foundations to the seafloor and bolting of massive turbines on them, which can hamper the ecology as well.

On the basis of water depth, the global wind energy market is segmented into shallow water and deep water. Currently, most of the offshore wind energy projects are based in shallow water. Constructing a shallow water offshore wind farm incurs lesser efforts and overall project cost. However, the share of deepwater offshore wind energy projects is expected to increase during the forecast period. Most of the offshore wind energy projects across the globe are constructed in a water depth of up to 40 meters. However, numerous plans are being carried out to construct wind farms in water depths of more than 50 meters. Offshore wind farms in deep water are more efficient and generate more power owing to faster wind speeds.

 

 

 

Request a free sample of the report here.

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Europe: Big Data and IoT for Wind Power – updating the technology

Ср., 02/14/2018 - 09:34

It’s an obvious way of evolution within the industry – the deployment of further automatization of the processes including smart grid planning, operations and maintenance (O&M) systems.  As Big Data analysis application in Wind Power Industry is picking up the pace the relevancy of the upcoming event can’t be underestimated.

BIS group s.r.o. announces the Wind Power Big Data and IoT Forum taking place on 19th – 20th October 2016, in Berlin, Germany. The event will be focused on the implementation of the leading technologies to the wind farm’ O&M, enhancing assets integrity and reliability, predictive maintenance scheme development. The Forum will showcase how to improve existing strategy through data-driven statistical trends, minimize costs and risks, optimize the technology and design and maximize the productivity of the wind farm.

Main market players will share their ideas and experience throughout 2-day practical case studies, in-depth discussions and interactive sessions. The small-scale nature of the event, expert speakers and balanced spectrum of attending companies will ensure extensive networking and business opportunities.

 

The post Europe: Big Data and IoT for Wind Power – updating the technology appeared first on EnergyWorld Magazine.

Europe: Investments in wind energy down 19 pct last year

Ср., 02/14/2018 - 00:14

Expenditure for new production capacity for wind energy in Europe has decreased by a fifth in 2017, down to the lowest level in the past three years, according to WindEurope.

This is viewed as a sign that the sector is reducing costs and becoming more efficient as governments cut back subsidies.

According to WindEurope annual report, investments in new onshore and offshore wind projects in the EU decreased by 19 percent last year, to EUR 22.3 billion, from a record high of EUR 27.5 billion in 2016.

In European countries, Germany was the largest investor in wind energy in 2017, making 30 percent of the total investments, followed by the United Kingdom with 22 percent.

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Romania: Alro Slatina, 4 times higher profit in 2017

Ср., 02/14/2018 - 00:13

Slatina-based Alro registered a preliminary net profit of RON 318 million in 2017, higher compared to 2016 when it was of RON 67 million, a press release informs. The company’s turnover amounted to RON 2.47 billion, higher compared to RON 2.13 billion in 2016.

“In 2017, Alro achieved its best financial results from the last ten years, when, in 2008 the first signs that predicted the beginning of the crisis in the aluminium industry started to be visible. The past years were challenging at all levels, but with a lot of work and a well-defined strategy closely monitored, we managed to embed in these results the efforts made taking advantage of the favorable context for our industry at international level, as well,” Marian Nastase, President of the Board of Directors of Alro, stated.

In 2017, Alro benefited from a favorable international environment as the aluminium quotation at the London Metal Exchange (LME) has significantly increased. Thus, the average LME in 2017 was USD 1,969 / tonne, compared to USD 1,605 / tonne in 2016. In the last quarter of 2017, the average price rose to 2,102 USD/ tonne, by USD 392 / tonne more than the average level recorded in Q4 2016, of USD 1,710 / tonne.

Alro has also achieved a significant improvement in its operating results with an operating profit of RON 397 million in 2017 compared to RON 170 million in 2016 and a net profit of RON 318 million, compared to RON 67 million, in 2016.

During 2017, Alro invested RON 142 million for technological upgrading, operational efficiency and customer portfolio expansion and product range diversification, compared to RON 81 million in the similar period of 2016.

The post Romania: Alro Slatina, 4 times higher profit in 2017 appeared first on EnergyWorld Magazine.

Romania: Oil Terminal sees profit down by over 65 percent

Ср., 02/14/2018 - 00:11

Oil transport company Oil Terminal recorded a net profit of RON 5.09 million in 2017, down 66.9 percent year-on-year, according to the preliminary financial data published by the Bucharest Stock Exchange (BVB).

On investments, the company said that its investment objectives stood at RON 28.973 million, up 22.9 percent compared to the planned level of RON 23.569 million.

The revenues from provided services fell 2.3 percent to RON 155 million due to the reduction by 4.6 percent of the transported capacity.

The turnover of the company lost 1.6 percent to RON 158 million.

The main shareholder of Oil Terminal is the Ministry of Energy, which owns a 59.62 percent stake.

The post Romania: Oil Terminal sees profit down by over 65 percent appeared first on EnergyWorld Magazine.

Romania: Over RON 1 bn from the privatization of Rompetrol Rafinare, Electrocentrale Bucuresti

Вт., 02/13/2018 - 10:55

Energy Ministry expects to get RON 1.073 billion this year from the implementation of privatization strategies at Rompetrol Rafinare and Electrocentrale Bucuresti, according the substantiation note of the revenue and expenditure budget of the privatization activity run by the ministry.

The document also reads about an amount of RON 2.5 million for to the expert who will recruit the professional managers for the state companies, but also about the fact that the energy producer Energy Complex Oltenia plans to float on Bucharest Stock Exchange (BVB).

The same document notes that the state will get RON 1.5 billion this year as dividends from the companies under the Ministry of Energy.

EC Oltenia’s listing issue has been discussed in recent years, but without finality, as problems have been encountered in the inventory process of coal reserves. As for the listing of Hidroelectrica, the new minister, Anton Anton, said recently that he did not know what was going to happen.

The post Romania: Over RON 1 bn from the privatization of Rompetrol Rafinare, Electrocentrale Bucuresti appeared first on EnergyWorld Magazine.

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