Finance | 25 June, 2024 at 10:00 AM
EU invests nearly €3 billion in cleaner energy systems
The European Union has allocated €2.967 billion through the Modernisation Fund to support 39 energy projects across 10 EU Member States.
The European Union has allocated €2.967 billion through the Modernisation Fund to support 39 energy projects across 10 EU Member States.
PepsiCo achieved several goals ahead of schedule, introduced new targets, and made significant strides in others, although challenges remain, particularly in packaging initiatives.
Investments in renewable energy remain below the level needed to meet COP28's goal of tripling green energy capacity by 2030.
However, economic volatility, geopolitical tensions, and technological shifts have slowed the pace of the transition.
Banca Transilvania financed the company STC Partners with €10 million for the expansion of the Quartier Azuga residential complex in Bucharest's Tei area by more than 100 homes.
Econergy has signed an agreement to sell its Niculești solar project to Enspire Enerji, investment branch of Turkey-based Entek Elektrik.
Romanian developer Genesis Property said that it is supplying all its office and student accommodation projects in Bucharest from renewable sources, following an investment in a photovoltaic system.
The European Commission has approved, under EU State aid rules, an estimated €3 billion German scheme to support the construction of the Hydrogen Core Network.
The European Commission has launched the European Solar Academy, the first in a series of EU Academies to be set up under the Net-Zero Industry Act (NZIA).
Ember estimates that 20% of global electricity generation across midday peaks on the solstice today will come from solar and in the entire month of June.
This partnership involves virtual Power Purchase Agreements (vPPAs) for clean power generated by Rezolv's impressive Vifor wind farm in Romania.
RetuRO, the Deposit Return System administrator, reported that in the first six months of the program's operation, it handed over 29,000 tonnes of DRS packaging to recyclers.
OMV Petrom announced a revision of their 2030 strategy, focusing on a bigger push for renewable energy, sustainable fuels, and making electric vehicles more accessible.
The EU and KfW have signed a Guarantee Agreement enabling the financing of additional renewable energy generation capacities and further network development.
Henkel announced that the company aims to reduce carbon dioxide emissions from its business by 100 million metric tons between 2016 and 2025.
DRI continues its investments in Romania with the acquisition of a 126 MW photovoltaic park in Văcărești, Dâmbovița county.
The new wind park will in its first phase provide about 192 MW in capacity, which will be expanded to about 461 MW in the second phase.
Premier Energy signed the development of two photovoltaic projects with a combined capacity of 86 MW and 18 MW of storage capabilities.
The refinery currently supplies around 30% of Romania's fuel needs and will continue to play a key role in the transport sector.
Romanian brewing companies have invested in advanced wastewater treatment plants to treat and reuse water and reduce the pollution load on local water bodies.
SPIE Energy Poland announced new projects at a time of major investment in Poland to support the energy transition.
Premier Energy PLC has announced that its subsidiary, Alive Renewable Holding Limited, has finalized the acquisition of a 90% stake in Development Power Solar Energy SRL.
MOL has expanded its renewable energy capabilities by acquiring Naperőmű Farm, a company behind the development of a 66 MW solar power plant in Ballószög, Hungary.
Dutch-based DRI has signed Romania's largest physical solar power purchase agreement (PPA) with leading oil and gas company OMV Petrom.
Registrations of battery-electric cars declined by 9.5% to 130,757 units in November 2024.
