7th International Conference - Solar Energy in Romania

After several years of growth and innovation, the PV Industry is facing another challenging period, with shifting market dynamics from large scale projects to small and medium systems.  The Law on Renewable Energy Sources adopted in June 2015 provides opportunities for the development of photovoltaics in Romania.

Legislation (mainly law 122/2015) on regulated tariffs for small renewable players (feed-in tariff) opens new opportunities for small projects, including PV and could enter into force latest October 2015. The support scheme will be approved for projects less than 500 KW. Regulation tariffs should come into force October 2015.

All these aspects, such as procedures for the various stages of PV systems investment process, and the introduction of  a quality mark for installation companies, will be among the topics discussed  during the 7th International Conference - Solar Energy in Romania. Thanks to active participation, the conference participants will be able to take part in creating and promoting good practices connected to the PV systems installation.

Discussion themes (proposals):

Session I: The future of PV in Romania
European Union Policy towards Renewable Energy
Prospects for PV in Romania 2020
Status of legislation process on amendaments to the Law of Renewable Energy

Session II: Support of PV development in Romania
The current legal, administrative procedures and permits
European funds for PV
Connecting the PV installation to the grid - legal and technical aspects
Connection of PV systems from the point of view of distribution system operator

Session III: Towards the sustainable growth of the PV market in Romania
Certification of installers for PV systems
Experience of PV installers when connecting to the grid
Microinstallation Certification Programm
Online monitoring of small and medium installations
Future solar storage systems

Palace Hall in Bucharest
Ion Campineanu Street, No.28, District 1, Bucharest

Target groups:
- Chief executives, product managers and project developers of module and cell manufacturers, producers of inverters and power components, suppliers of foundations, substructures, cabling and other components
- Planners, contractors, installers, engineering and construction companies
- Utilities and manufacturing / service companies from conventional power industry
- Sales managers responsible for large-scale systems
- Insurance companies, brokers and agencies
- Investment banks and investors
- Political representatives
- Energy agencies
- Attorneys involved in PV projects
- Journalists addressing economic, technological and energy issues

Language: English/Romanian

Bvd. Revolutiei, No.96, apt.4, Arad
Phone: +40-257230919
Fax: +40-257230998
E-mail: info@reeco.ro


Transeastern Power Trust acquisition two photovoltaic solar power production plants in Romania with $18 Million

Transeastern Power Trust is pleased to announce today that it has entered into two non-binding term sheets with certain affiliates of Sprott Inc. ("Sprott") for a minimum $18 million financing, comprised of a non-brokered private placement for a minimum of $13 million of subscription receipts (the "Equity Offering") to be led by Sprott and a $5 million secured debt facility to be provided by Sprott Resource Lending Partnership (the "Debt Facility", and together with the Equity Offering, the "Financing").

Proceeds from the Financing will be used for the acquisition of two photovoltaic solar power production plants in Romania (the "Power Assets") and for general working capital purposes. The plants are fully operational and have a total capacity of over 16 kWp. The plants have been in production for over two years and have performed consistently over that timeframe. The Trust is currently in the process of finalizing the purchase agreements for the Power Assets and further details will be announced in due course. The gross purchase price of the Power Assets is expected to be approximately $9,600,000, net of assumed bank debt. As partial payment for the Power Assets, it is expected that the vendors will subscribe for up to $5.8 million of units of the Trust at a purchase price of $1.00 per unit.

The Equity Offering will be comprised of the issuance of subscription receipts (the "Subscription Receipts") at a price of $1.00 per Subscription Receipt, each exercisable for one trust unit (a "Trust Unit") and one purchase warrant (a "Warrant"). Each Warrant shall entitle the holder to acquire one Trust Unit for a period of 36 months from the date of issuance at an exercise price of $1.00, subject to compliance with TSX Venture Exchange pricing policies. The Warrants will contain an acceleration provision providing that, if: (i) four months and one day have passed since the closing date, (ii) the Subscription Receipt escrow release conditions have been satisfied, and (iii) the closing price of the Trust Units on the TSX Venture Exchange is higher than $1.50 for 20 consecutive trading days, then on the 20th consecutive trading day (the "Acceleration Trigger Date") the expiry date of the Warrants will be accelerated to the date that is 10 business days after the Acceleration Trigger Date.

The issuance of the Subscription Receipts will be subject to satisfaction of due diligence, receipt of a minimum of $13,000,000 in gross proceeds from the Equity Offering (which may include the dollar amount issued to vendors of the acquired Power Assets) and receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The Subscription Receipts shall convert into Trust Units and Warrants and funds shall be released from escrow upon the fulfilment of certain release conditions including all conditions precedent for the purchase of the Power Assets (other than the release of escrow funds) being satisfied or waived, receipt of funds from the Debt Facility, and other customary conditions for a subscription receipt offering.

A finder's fee will be payable to Sprott on proceeds realized from sales to investors introduced by Sprott equal to 5% cash (or units at Sprott's election), 5% Warrants and 3% Subscription Receipts. The securities issued in the Equity Offering will be subject to a four month and one day hold period. The closing of the Financing and the acquisition of the Power Assets are expected to occur by the end of March, 2015.

The Debt Facility will be in the amount of $5 million accruing interest at a rate of 10% per annum, compounded monthly. It will have a two year term and be repayable at the Trust's option without penalty provided six months' interest has been paid. The Debt Facility will be guaranteed by the Trust's subsidiaries and will be secured against the Power Assets and each of the Trust's current assets. In connection with the Debt Facility, the Trust shall undertake to meet certain minimum working capital requirements and use of funds. The Trust will also make certain required payments in conjunction with the Debt Facility, including a $300,000 bonus payment and an annual payment of 2% of the Debt Facility, each payable in Trust Units at a 10% discount to the market price of the Trust Units. The Debt Facility is subject to TSX Venture Exchange Approval.

Mr. J. Colter Eadie, Chief Executive Officer of Transeastern, commented: "The acquisition of these two projects is a transformative transaction for the Trust. Upon completion, we will be more than doubling our installed power production capacity and doing so on a basis that we expect to be immediate and highly accretive to the Trust as well as dramatically lowering our payout ratio. With these acquisitions, we anticipate that approximately half of our power generation will come from solar and half from hydro. This diversification reduces our hydrology risk and dramatically increases our revenue. The vendors are agreeable to taking approximately 58% of the total consideration for the acquisition in Trust Units, a major endorsement of our strategy and evidence of confidence in the quality of the assets being acquired, our existing portfolio, and the opportunities in front of us. We are very pleased to welcome Sprott, a high-quality global investment firm, as a cornerstone investor and lender to the Trust. In addition to Sprott, insiders have committed to acquire at least $500,000 as part of this financing. We are particularly pleased to be receiving this support from management and the asset vendors."


Romania: National Conference of Modern Management in Energy - First Edition

"Smart grid, smart meter" is the theme of this conference, dedicated to the energy sector in Romania radiography and determining the most suitable solutions to eliminate various problems.

Participants in the debate will try to prove that, by applying the latest ICT solutions, you can build "intelligent" network with numerous benefits. These include increasing power quality and energy efficiency, improve data security, energy optimization and better management at electricity distribution networks.

Preliminary Agenda of the event:
• Registration of participants 09.00-09.30. Welcome Coffee.
• 09.30-09.35 Opening of - moderator Daniel Apostol
• Representative 09.35-10.00 Energy Minister of Small and Medium Sized Business: The coordinates energy strategy 2015 - Problems and solutions
• 10.00-10.20 Gabriel Mardarasevici, Acting Chairman, Focality: A better life, one click away - revolutionary technologies for Energy
• 10.20-10.40 Representative ANRE: Market trends -development of domestic production and price evolution
• 10.40-11.00 Representative business: market potential, "choked" by the lack of clear rules and predictability
• 11.00-11.20 Competition Council Representative: Safety and competitiveness in the energy market in Romania
• 11.20-11.40 Coffee break
• 11.40-12.00 Representative business: Integrated Solutions for prevention of cyclical changes in energy
• 12.00-12.20 Representative Committee of Industries, Chamber of Deputies legislative challenges in energy and the necessary regulations
• 12.20-12.40 Representative business
• 12.40-13.00 Representative business
• 13.00-14: 00 Lunch

Participants: approximately 100 people, members of parliament, representatives of the Government, the Ministry of Energy, SMEs and Business Environment of subordinate agencies and public services by companies operating in the energy field.
Tuesday, November 10, 2015
Constanta Hall, JW Marriott Bucharest Grand Hotel, Romania

Renewable NRG Systems launches new user interface for TurbinePhD® condition monitoring system

Renewable NRG Systems (RNRG), a designer and manufacturer of decision support tools for the global renewable energy industry, has completely redesigned its software interface for the TurbinePhD wind turbine condition monitoring system (CMS). TurbinePhD is the only CMS in the wind industry that is engineered for use by wind plant operators at multiple levels of their organization, from technicians to data analysts.

Automated Diagnosis
TurbinePhD’s powerful automated analysis classifies the health of all turbine drivetrain components, so users don’t have to be vibration experts to get actionable information. Improved alert management allows users to handle all alerts in one place and track who acknowledges and clears issues. Charts and data can be easily exported for deeper analysis.
Fleet Health at a Glance
The TurbinePhD user interface is completely web-based, so users can access all of their turbine health data anywhere with an internet connection. The fleet view allows operators to assess the health of all wind farms at a glance, and graphical health alerts clearly highlight those that need attention. At the wind farm level, users can see which turbines have new alerts or view and download charts of the most critical faults on the farm.

TurbinePhD is backed by RNRG’s two-year warranty and lifetime technical support. Learn more at www.renewablenrgsystems.com/turbinephd.


Moldova : renewable energy cheaper like traditional energy

Simultaneously with increase of tariffs for electric energy, the few producers of electricity from renewable sources regenerabilele in the Republic of Moldova faced a situation is absurd when the current product is less than that from traditional sources.

Worldwide producers of renewable energy, combating the production cost of electrical energy as little as possible, compared to traditional sources. Generally, however, the costs for the production of renewable energy is higher and the difference is subsidized by the state or entered in the accounts of consumers. In Moldova it was due to the inconsistent policy between the authorities, on the one hand, declares that it supports the development of the renewable energy sources, but de facto the opposite is true.

On July 18 the Board of Directors of the Agency ANRE approved at the meeting of the new regulated tariffs for distribution services and supply of electric energy to consumers consumers PEAK "RED Union Fenosa" SA, by îcs Gas Natural Fenosa Supply of Electricity JSC" RED Nord and RED Nord - Vest SA, as well as a new tariff for services in transfer of electric energy provided by the SE Moldelectrica.

The decision of ANRE household consumers connected to the low voltage network served by Gas Natural Fenosa Supply of Energy will be on the pay rate of 2.16 lei ( 0.1 Euro/kWh, those RED Nord 2,23 ( 0.11 Euro)lei/kWh, whereas RED Nord - Vest will pulls out his 2,33 money/kWh.

The tariff increase has not achieved, and suppliers of electricity from renewable sources. Thus, they will continue to receive 1,24-1,92 lei ( 0.06 - 0.09 Euro) per kilowatt-hour(!). Unfortunately, it is not clear how to motivate these manufacturers in the tariff increase, because once the equipment was installed, the main costs are those of service, which practically do not change due to the weakening of the national currency against the dollar or the Euro.

This approach will never allow the development of the sector of renewable energy production in the country, and large investors will be around the same as it did and still.

Even before the creation of this situation, we reported that producers of renewable energy who had to wait long periods to get the tariff for the energy produced, and until then, and began to supply free electricity. Some manufacturers have stated that previously tried to challenge the rate is very small, set ANRE, but without success.

source : agora.md

Solar thermal market in Europe in 2014

SOLAR THERMAL MARKETS IN EUROPE - TRENDS AND MARKET STATISTICS 2014 is a new statistics material published by ESTIF in june 2015. You can get hire information about solar thermal market in Europe, statistics for each country, information and trends.

Cn download the latest ESTIF Publication 'Solar Thermal Markets in Europe - Trends and Market Statistics 2014' (pdf format - 9.6 MB)

Frimu Ghinea

EBRD brings wind power to Montenegro

In a landmark project for Montenegro’s energy sector, the European Bank for Reconstruction and Development (EBRD) is supporting the first commercial wind power plant in Montenegro, to be located at Krnovo, near the town of Niksic in the western part of the country.

The EBRD is extending a senior secured loan of up to €48.5 million to Krnovo Green Energy d.o.o, the subsidiary of Akuo Energy, the French producer of renewable energy, that will build and operate the 72MW plant. In parallel, KfW IPEX-Bank GmbH, a subsidiary of KfW, is providing a loan of the same amount.

This is the first large-scale investment in Montenegro’s electricity generation capacity since the 1980s. Once constructed and operational the wind farm will represent 8 per cent of the total installed capacity and 6 per cent of total electricity production in Montenegro.

The project is expected to result in CO2 emission reductions of more than 180,000 TCO2 annually, equivalent to removing 11,000 cars from the roads.

This is the first private wind financing not just in Montenegro but in the wider region (Serbia, Bosnia and Herzegovina, Albania) and can serve as catalyst for commercial banks to finance similar projects in Montenegro and the Western Balkan region.

“With this project, the EBRD is supporting Montenegro in becoming one of the lowest-carbon economies in Europe on a relative basis and advancing energy efficiency by boosting competition in Montenegro’s energy market. Over the last two years the EBRD has worked with the government to create the regulatory framework for renewables. We’re pleased to see the Krnovo wind farm coming to fruition,” said Giulio Moreno, EBRD Head of Podgorica Office.

“Montenegro is a country that lies at the crossroads of Europe, has considerable renewable resources and has decided to make even greater use of these resources to have production of green electricity- a strategic priority for its development. We welcome this proactive policy and are delighted to have financed the country’s very first wind farm with the help of EBRD, KfW IPEX-Bank, and Proparco”, concluded Eric Scotto, Akuo Energy’s cofounder and CEO.  

This first wind farm in the country will set the benchmark in terms of developing, building and operating a greenfield renewable project.

With this project EBRD will have committed €493.5 million in 45 projects, generating more than €960 million of investment in the country. EBRD’s investments cover the whole range of Montenegro’s economy.

Viktorija Melohina
source: EBRD

Lukoil has problems with Romanian prosecutor

In the past five years, Lukoil Petrote l- recorded cumulative losses of 2.2 billion lei (0.48 billion euro), according to data from the Ministry of Finance. Petrotel - Lukoil refinery- was sold by the Romanian state in 1998 by the Russians of Lukoil with 53 million dollars. This is the third largest in Romania refinery with a capacity of 2.4 million tons annually.

In the middle of last week  initial charges of money laundering and tax evasion offenses were extensive use of credit in bad faith society and money laundering.

Beyond Andrey Bogdanov, general manager of the refinery, to judicial control preventive measure against five other employees of the unit, Andrew Duck, Dan Danulescu, Dorel Duţu, Yuri Erogov and Alexey Voinstev, the last two having Russian citizenship. Moreover, the prosecutors of the Court of Appeal Ploiesti extended precautionary measures, by attachment of immovable belonging to Lukoil Europe Holdings Bvatrium Netherlands up to EUR 2 billion.

In a press release states that the Prosecutor in Ploiesti refinery reimbursed under contracts Lukoil Europe by its majority shareholder Holdings BV Netherlands EUR 1.5 billion and EUR 0.5 billion credit refund justification.

Prosecutors conclusion is that the commercial policies refinery was under-capitalized, damage to the crime of bad faith use of the company's credit of 1.1 billion euros and 1.5 billion dollars. Another loss of 1.5 billion dollars and 0.5 billion has been brought to the crime of money laundering, prosecutors said.

Russia rejects the allegations made against them and say they hope to avoid obstacles that could affect the operation of the refinery.

Frimu Ghinea

Electrocentrale Group S.A. Open a park of 1.7 MW. Braila county, Romania

Electrocentrale Group S.A completed in . July 3  his investment objective "Photovoltaic Park" in the town of Chiscani, Braila county, Romania, with an installed capacity of approx. 1.7 MW.

The investment represents the main measure undertaken in order to maintain the object of activity of the company, namely the production of electricity. At the same time, represent any source of revenue for the company, which also brings material benefits, is an opportunity in the development of society.

By promoting this investment potential in the solar Braila county, town Chiscani respectively, by producing electricity from renewable sources, unconventional and clean (green energy), nationwide there is a real demand in this regard.

Frimu Ghinea

EBRD & BelSEFF developed energy management manual in Belarus

The European Bank for Reconstruction and Development (EBRD) is presenting a newly developed energy management manual as part of its work under the Belarus Sustainable Energy Finance Facility (BelSEFF) designed to support projects in energy efficiency and renewable energy.

The manual, which will be unveiled during seminars in Minsk and Brest, will act as a guide for local businesses which are interested in introducing an energy management system. Once introduced, the system may help them reduce between 10 and 30 per cent of their total energy consumption, thus significantly lowering their energy-related costs and improving the environmental impact of their operations.

The BelSEFF, which was launched in 2012, provides dedicated credit lines to local partner banks to finance local small and medium-sized private businesses as well as eligible state sector companies. It has, to date, supported 47 projects worth US$ 17.2 million across the country, resulting in energy savings of around US$ 8 million of fuel imports and an annual reduction of CO2 emissions equivalent to annual emissions of 6,300 people.

The manual was developed by a consortium of consultants funded by the Ministry of Finance of the Czech Republic through its ODA Trust Fund. It addresses the fundamentals of energy management, offers guidance on how to implement international best practices in energy management standards and develop energy efficiency projects.

Francis Delaey, the EBRD’s Head of Office in Belarus, said: “Energy consumption in Belarus against GDP is still 2.5 times higher than on average in the European Union. This country urgently needs to adopt a more efficient energy management model. This is particularly relevant for those Belarusian companies that want to successfully compete in new markets like the European Union. The reduction of their production costs through a variety of energy efficiency measures may hold the key to their future success.”

In the countries where it invests, the EBRD is a market leader in promoting investment in energy efficiency and renewable energy projects. Its business model for climate finance combines commercial project financing, technical assistance through market analysis, energy audits, training, awareness-building, policy dialogue to improve the regulatory framework for these investments, and grant co-financing.

In 2014 alone, 34 per cent of the Bank’s €8.9 billion investment across 35 countries was in sustainable energy. Since the launch of its Sustainable Energy Initiative in 2006, the Bank has invested €16.7 billion in almost 1,000 sustainable energy projects which range from support for wind, solar and hydropower generation to investments in industrial and residential resource efficiency, green transport, municipal infrastructure, better energy transmission and cleaner power plants.

The EBRD is a major investor in Belarus. As of 1 June 2015 the Bank had invested €1.7 billion spread over 70 projects, most of which are in the private sector.

source : EBRD


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