The Diplomat-Bucharest

02/05/2025

WALDEVAR strengthens its position as a Romanian leader by surpassing the milestone of 1.5 GW of installed capacity across its photovoltaic project portfolio. Today, the company stands as one of the leading general contractors in Europe in the fields of engineering, automation, SCADA systems, and construction-installation services for energy generation, transmission, and distribution infrastructure.

“We are transforming ourselves to become a leader in integrated energy system development, combining energy production with advanced technologies. Our goal is to move beyond just producing green energy and instead create intelligent, sustainable solutions for the future. This transformation will mark our shift from ‘green with risks’ to ‘smart and efficient green’ energy,” said Cristian Dragomir, CEO, WALDEVAR Energy.

WALDEVAR strengthens its position as a Romanian leader by surpassing the milestone of 1.5 GW of installed capacity across its photovoltaic project portfolio. Today, the company stands as one of the leading general contractors in Europe in the fields of engineering, automation, SCADA systems, and con...

02/05/2025

In 2024, the net result of the Electrica Group was a profit of RON 390 million, a result generated mainly by the performance of the distribution segment, recording a profit of RON 723.7 million in 2024, compared to the net profit recorded in 2023 in the amount of RON 637.9 million in the context of the increase in tariffs by 6.8% compared to the last adjusted tariffs starting with April 2023, as well as the increase in distributed electricity volumes by 4.2%.

“We focused our efforts and investments on key areas of our business, always looking ahead to what we are building together. The financial results in 2024 significantly exceeded our set objectives. Group-wide investments reached 112.5% of the planned value, reaffirming our implementation capacity and our teams’ ability to deliver tangible results, even in a challenging economic context. The company delivered solid financial performance, with a consolidated net profit of RON 376.5 million, surpassing the target by over 42%. These results provide a strong foundation on which we will continue to grow the Electrica Group. The results were also reflected in the performance of our shares on the Bucharest Stock Exchange. On the occasion of our 10-year listing anniversary, we reached an all-time high of RON 16.30 per share. Moreover, in the past two years, Electrica’s shares have strongly rebounded, growing by over 100% compared to the difficult period in 2022. In 2024, we also recorded a new high in terms of share liquidity – exceeding RON 62 million in a single trading session. A major milestone was also the record amount of non-reimbursable funding obtained for the development and modernization of the networks managed by our distribution operator, Distribuție Energie Electrică Romania (DEER).

In the past two years, we secured around EUR 450 million – the largest amount in Romania’s energy sector – for infrastructure upgrades and improved supply security. This includes a EUR 3.4 million PNRR grant for an energy storage project in Fântânele, which underlines our commitment to building an innovative and sustainable energy infrastructure. Alongside infrastructure development, we also significantly expanded our renewable energy production portfolio. The acquisition of Foton Power Energy and New Trend Energy added photovoltaic projects of over 130 MW to our portfolio. Additionally, Crucea Power Park’s success in the first round of the Contracts for Difference (CfD) scheme, with the “Crucea Est” wind project, strengthens our strategic role in the green transition and ensures financial predictability for the next 15 years,” said Alexandru Chirita, CEO of Electrica.

In 2024, the net result of the Electrica Group was a profit of RON 390 million, a result generated mainly by the performance of the distribution segment, recording a profit of RON 723.7 million in 2024, compared to the net profit recorded in 2023 in the amount of RON 637.9 million in the context of....

02/05/2025

MOL Group and Turkish Petroleum signed the concession agreements with the Ministry of Energy of Hungary, granting rights for joint hydrocarbon exploration in two Hungarian concession areas, Tamási and Buzsák. The joint bidding and the exploration program are the first important steps since the companies signed a strategic partnership agreement last year.

MOL and Turkish Petroleum are identifying further joint opportunities in the Caspian region, in the Black Sea area, in North Africa and in Central and Eastern Europe.

MOL Group and Turkish Petroleum signed the concession agreements with the Ministry of Energy of Hungary, granting rights for joint hydrocarbon exploration in two Hungarian concession areas, Tamási and Buzsák. The joint bidding and the exploration program are the first important steps since the com...

30/04/2025

Global: In a rapidly evolving energy landscape marked by urgent climate goals, disrupted supply chains and a push for scalable green solutions, Polytrade Global starts to look into Central and Western Europe markets. The company combines technical prowess with strategic foresight, delivering both high-performance electrical equipment and turnkey renewable energy projects through a fully integrated operational model.

In a rapidly evolving energy landscape marked by urgent climate goals, disrupted supply chains and a push for scalable green solutions, Polytrade Global starts to look into Central and Western Europe markets. The company combines technical prowess with strategic foresight, delivering both high-perfo...

30/04/2025

Meta Estate Trust, a holding company operating in the real estate sector, announces investments of nearly 4 million euros in four residential projects in Bucharest. The company has signed sale promises for 37 apartments in Bucharest, part of residential projects in various stages of construction, developed by HILS Development and Exigent Development.

“The residential real estate market is driven by distinct forces depending on the time period analyzed, and in Bucharest we estimate an accelerated increase in apartment prices, taking into account that the number of new apartments to be delivered in 2026 and 2027 is drastically decreasing. In the short term – up to a year – the market is strongly influenced by demand, but in the long term, respectively 3 – 7 years, it is drastically influenced by supply, because the development of large-scale residential projects is a long-term process. In the last four years, in Bucharest, I do not think we have had a new PUZ issued for a residential development, and the construction permits issued for large-scale projects have been and are significantly decreasing, effects that will be felt in the market gradually, in the coming years. We are an agile investor in the real estate sector, and the current investment, of almost 4 million euros, has the capacity to generate a very good internal rate of profitability in the trading area, of 23 – 24%,” says Alexandru Bonea, CEO Meta Estate Trust.

Meta Estate Trust, a holding company operating in the real estate sector, announces investments of nearly 4 million euros in four residential projects in Bucharest. The company has signed sale promises for 37 apartments in Bucharest, part of residential projects in various stages of construction, de...

30/04/2025

Two-thirds (66 percent) of company representatives say that recently hired employees were not fully prepared for the roles they fill, and lack of experience was the main cause of failure, while employees (nearly 60 percent) consider their organization values job experience and degrees over skills and potential, according to the Deloitte 2025 Global Human Capital Trends report.

The experience gap highlighted in the study is also deepened by the artificial intelligence (AI) technologies which shrink entry-level roles and thus reduce the opportunities for those who are in early stages of their careers to develop practical skills. For these reasons, almost three-quarters of leaders (73 percent) and employees (72 percent) believe that organizations should provide more opportunities to gain experience.

Two-thirds (66 percent) of company representatives say that recently hired employees were not fully prepared for the roles they fill, and lack of experience was the main cause of failure, while employees (nearly 60 percent) consider their organization values job experience and degrees over skills an...

30/04/2025

JT GRUP OIL, one of the emerging leaders in fuel distribution in Romania, announces the financial and operational results for 2024. At the end of 2024, the turnover increased by 2.4% to over 229 million RON.

The net profit recorded an increase of 79.62%, reaching 10.3 million RON. The profitability of the current business is also supported by the operating result, which also increased by 48.34% compared to 2023.

“In 2024, the market has been impacted by the increasing demand for fuels, especially from the industrial and agricultural sectors, but also by a growing interest in sustainable energy solutions. In this context, operators that have invested in modern infrastructure, optimized logistics chains and developed flexible commercial policies, such as JT GRUP OIL, have managed to differentiate themselves and achieve solid growth,” says Bogdan Aldea, Chairman of the Board of Directors and CEO of JT GRUP OIL.

JT GRUP OIL, one of the emerging leaders in fuel distribution in Romania, announces the financial and operational results for 2024. At the end of 2024, the turnover increased by 2.4% to over 229 million RON.

30/04/2025

Corden BioChem announced that it will invest “several tens of millions of euros” in the relaunch of the bioethanol plant in Podari, Dolj County. The plant was closed in December 2023 by its former owner, the Swiss company Clariant.

Corden BioChem plans to use the existing infrastructure for bioethanol production. The estimated initial production capacity is several tens of thousands of tons per year. At the same time, it will strengthen a team of local specialists, creating dozens of new jobs in the region.

Corden BioChem announced that it will invest “several tens of millions of euros” in the relaunch of the bioethanol plant in Podari, Dolj County. The plant was closed in December 2023 by its former owner, the Swiss company Clariant.

30/04/2025

BASF will expand its production capacity for semiconductor-grade sulfuric acid (H2SO4). The new production facility at its Ludwigshafen site in Germany will feature cutting-edge purity capabilities to serve growing demand for advanced semiconductor chip manufacturing across Europe. Operations are expected to start by 2027, coinciding with the capacity expansion of key customers.

BASF will expand its production capacity for semiconductor-grade sulfuric acid (H2SO4). The new production facility at its Ludwigshafen site in Germany will feature cutting-edge purity capabilities to serve growing demand for advanced semiconductor chip manufacturing across Europe. Operations are ex...

30/04/2025

👉 The Diplomat Bucharest organizes the 14th edition of THE ENERGY CEO FORUM & AWARDS GALA, the yearly one-day event to take place at InterContinental Athénée Palace Bucharest, Le Diplomate Hall, on May 13, 2025.

🎤 We welcome Claudia Griech, General Manager, e.on Energie Romania in the Energy CEO Forum panel.

✍ Register on the event website:
https://energy-ceo-forum-awards.thediplomat.ro/

THE LANDMARK EVENT in the ROMANIAN ENERGY SECTOR

With a long-standing tradition started back in 2012, Diplomat Media Events developed the Awards Gala event into a more complex platform, featuring the energy industry’s CEO FORUM followed by an AWARDS GALA to highlight the performance of Romanian energy companies live streamed on the online platforms of the event and The Diplomat-Bucharest.

30/04/2025

OMV Petrom announced its financial results for January – March 2025. The company recorded a net profit of 1.1 billion RON, down by 24 percent in Q1.

Christina Verchere, CEO OMV Petrom: “In the first quarter of the year, we delivered strong operational performance. Hydrocarbon production saw its lowest first quarter decline in five years, and the utilization rates of our refinery and power plant were high.

Our Clean CCS Operating Result decreased by 29 percent compared to the first quarter of 2024 to RON 1.3 billion. This was obtained in the context of decreasing crude price and refining margins, and of the regulations on the gas and power market. The latter led to a negative result of the G&P segment for the second consecutive quarters.

Investments were at RON 1.4 billion, up 44 percent year on year in Q1/25, mainly driven by the Neptun Deep project.

These investments have supported the progress of our Strategy 2030, through which we are developing a balanced energy mix of oil, gas and renewable power, contributing to the country’s energy security.

Looking ahead, we will capitalize on our strong financial position and integrated business model, as we gear up for a record-high investment year in 2025 – an ambitious plan of 8 billion lei, that requires a predictable and competitive regulatory and fiscal framework.”

OMV Petrom announced its financial results for January – March 2025. The company recorded a net profit of 1.1 billion RON, down by 24 percent in Q1.

30/04/2025

Romgaz Group recorded in 2024 a revenue of 7.92 billion RON, down by 11.91 percent, namely 1.07 billion RON, as compared to 2023 revenue (9 billion RON). Net profit of 3.2 billion RON was higher by 393.89 million RON than the net profit recorded in 2023 (14.01 percent).

30/04/2025

BCR achieved a net profit of RON 742 million (EUR 149 million) in Q1 2025, up by 19.8 percent against RON 620 million (EUR 125 million) in Q1 2024, driven by improved operating result underpinned by significant advance in customer business.

“We continuously invest in our relationship with clients, which is why we created the George Benefits Program – the first banking loyalty program in Romania. Over 1.4 million BCR clients are already benefiting from this new way of doing banking, which enhances financial planning and rewards users with personalized offers tailored to their financial goals. We treat our relationship with the business community with the same sense of responsibility, recognizing our role in supporting and accelerating the competitiveness of SMEs. We stand by entrepreneurs with expertise and tailored solutions that bring clarity and predictability, helping them build growth strategies in an increasingly complex world,” said Sergiu Manea, CEO Banca Comercială Română.

BCR achieved a net profit of RON 742 million (EUR 149 million) in Q1 2025, up by 19.8 percent against RON 620 million (EUR 125 million) in Q1 2024, driven by improved operating result underpinned by significant advance in customer business.

29/04/2025

ENEVO Group announced the completion of the construction and commissioning of the photovoltaic park in Teius. The photovoltaic park, with an installed capacity of 68.99 MW, is a tracker-type installation, which allows the panels to automatically track the sun throughout the day, for more efficient energy production.

CEF Teiuș will produce over 103 GWh of electricity annually, significantly contributing to the reduction of carbon emissions. The total investment amounts to approximately 55 million euros, of which the state funding, through the PNRR, amounts to 15 million euros, making Teiuș the largest energy project financed through the PNRR.

ENEVO Group announced the completion of the construction and commissioning of the photovoltaic park in Teius. The photovoltaic park, with an installed capacity of 68.99 MW, is a tracker-type installation, which allows the panels to automatically track the sun throughout the day, for more efficient e...