Romanian state-controlled electricity producer Hidroelectrica reported a sharp year-on-year decline in electricity output for the first quarter of 2025, with gross generation falling 38% to 2,735 GWh. Net production mirrored this decline, also down 38% to 2,656 GWh. Electricity sales dropped by 36% to 2,843 GWh, while electricity purchases rose 10% to 196 GWh. The […]
Romania: OMV Petrom sees 24% profit drop in Q1 2025, eyes record investment year Read More »
OMV Petrom, Romania’s leading oil and gas company, reported a 24% year-on-year drop in net profit for the first quarter of 2025, totaling €220.9 million. The decline follows a period of elevated earnings in prior years, which were buoyed by soaring energy prices triggered by the war in Ukraine. Despite the profit dip, the company
Bulgaria: TPP Bobov Dol reports strong Q1 2025 profit surge amid revenue growth Read More »
Bulgarian coal-fired power plant TPP Bobov Dol posted a net profit of €5.1 million in the first quarter of 2025, significantly up from €1.35 million during the same period last year. The company’s total revenues soared to €64.6 million, marking an 84% year-on-year increase. Operating costs also rose sharply, reaching €59.6 million in Q1 2025—an
Bulgaria cuts wholesale gas price by 14.2% for May 2025 Read More »
The Bulgarian Commission for Energy and Water Regulation (KEVR) has approved a 14.2% reduction in the wholesale price of natural gas for May 2025. The new price stands at approximately €32.90 per megawatt-hour (MWh), excluding VAT and excise duties. This marks the second consecutive monthly decrease, following a 14.3% cut in April. The price reduction
A consortium comprising four local firms and a recently established Hungarian company has secured an €8.3 million contract from RiTE Gacko, the coalmine and thermal power plant operator, for the reconstruction of its aging cooling tower. The winning group includes Bosnian companies Elnar, Projekt, GP Gradip, and Montig Energetika, alongside 3g Energy, a relatively unknown
Greece: MORE launches 43.2 MW wind farm as part of ambitious renewable energy expansion Read More »
Motor Oil Renewable Energy (MORE) has officially begun regular operations at a new 43.2 MW wind power plant located in northern Greece, near the border with North Macedonia. The facility, equipped with nine Nordex N-149 turbines, had previously entered its testing phase in late 2023. This project forms part of MORE’s larger strategy to significantly
Romania: New solar projects advance with over 100 MW in capacity and storage plans Read More »
Eximprod Grup is preparing to commission a 65 MW photovoltaic facility in Prahova County, north of Bucharest, with plans to add a battery energy storage system after completion. Meanwhile, Simtel has secured financing to finalize a 52 MW solar power plant in Giurgiu County, located south of Romania’s capital. In addition, a developer in Alba
Romania’s largest energy company, OMV Petrom, has signed contracts with the state-owned energy company CE Oltenia for the development of four large-scale solar parks with a total installed capacity of around 550 megawatts. These photovoltaic facilities will be constructed on CE Oltenia’s land in Gorj and Dolj counties and are expected to supply electricity to
Greece announces targeted winter electricity subsidies for one million businesses Read More »
On October 25, the Ministry of Environment and Energy announced a new framework for electricity subsidies aimed at supporting approximately one million businesses across Greece. The measure will cover the period from December 1, 2024, to February 28, 2025, and is intended to offset average electricity price increases during the winter. The subsidies apply to
Romania: ENTSO-E flags planned gas projects as economically unviable by 2035 Read More »
Romania’s plans to build 2.15 GW of combined cycle gas turbine (CCGT) capacity face serious doubts over economic viability and long-term utility, according to the European Resource Adequacy Assessment 2024 (ERAA 2024) published by ENTSO-E, the association of Europe’s transmission system operators. The ERAA 2024 warns that if the new gas plants are constructed, they
