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Croatia: Janom Investments reaches ready-to-build stage for 30 MW solar power plant Read More »

Croatia: Janom Investments reaches ready-to-build stage for 30 MW solar power plant

Roughly a year after announcing its pilot solar project in Croatia’s Slavonia region, Janom Investments has advanced to the ready-to-build phase for a 30 MW photovoltaic plant. This marks the company’s first investment in Croatia and represents a key milestone in its strategy for regional growth. Construction is set to begin in August 2025, with […]

Romania: OMV confirms Neptun Deep gas production to begin in 2027, boosting EU energy security Read More »

Romania: OMV confirms Neptun Deep gas production to begin in 2027, boosting EU energy security

Austrian energy group OMV announced that gas production from Romania’s Black Sea Neptun Deep project is set to start in 2027, marking a major step forward for European energy independence. The €4 billion venture is being developed jointly by OMV’s Romanian arm, OMV Petrom, and state-owned gas producer Romgaz, with both holding equal 50% stakes.

Region: Moldova signs long-term gas supply deal with Romania’s OMV Petrom Read More »

Region: Moldova signs long-term gas supply deal with Romania’s OMV Petrom

Moldova’s state-owned energy company Energocom has signed a landmark three-year agreement with Romanian oil and gas company OMV Petrom for the purchase of natural gas. The gas will be sourced from the Neptun Deep offshore project in the Black Sea, with deliveries conducted via the virtual trading point (VTP) in Romania, ensuring a stable and

Albania: Statkraft completes feasibility study for major pumped storage project Read More »

Albania: Statkraft completes feasibility study for major pumped storage project

Norwegian renewable energy company Statkraft has completed a feasibility study for a proposed pumped-storage hydropower plant in Albania, which could have a capacity of up to 1,620 megawatts (MW). The project would expand upon the existing Moglica hydropower plant on the Devoll River, and the formal proposal has now been submitted to Albanian authorities for

Bosnia and Herzegovina: RiTE Ugljevik suffers loss, while RiTE Gacko recovers Read More »

Bosnia and Herzegovina: RiTE Ugljevik suffers loss, while RiTE Gacko recovers

In the first quarter of 2025, Coalmine and Thermal Power Plant (RiTE) Ugljevik reported a loss of approximately 2.71 million euros, marking a steep decline from the 1.84 million euro profit recorded in the same period last year. The company’s latest financial report reveals a sharp drop in revenue, which fell to 18.81 million euros

Serbia: NIS Group sees 16% profit decline in Q1 2025 amid lower oil prices and SDN listing Read More »

Serbia: NIS Group sees 16% profit decline in Q1 2025 amid lower oil prices and SDN listing

Serbian oil and gas company NIS Group recorded a net profit of €12.8 million in the first quarter of 2025, down 16% compared to the same period last year. EBITDA fell by 15% to €72.5 million, reflecting the impact of softer oil prices and ongoing international restrictions. The company allocated €47 million to capital investments,

Romania: OMV Petrom sees 24% profit drop in Q1 2025, eyes record investment year Read More »

Romania: OMV Petrom sees 24% profit drop in Q1 2025, eyes record investment year

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

Bosnia and Herzegovina: Five-company consortium wins €8.3 million contract for TPP Gacko cooling tower reconstruction Read More »

Bosnia and Herzegovina: Five-company consortium wins €8.3 million contract for TPP Gacko cooling tower reconstruction

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 »

Greece: MORE launches 43.2 MW wind farm as part of ambitious renewable energy expansion

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: OMV Petrom and CE Oltenia launch major solar projects to power 410,000 Romanian homes Read More »

Romania: OMV Petrom and CE Oltenia launch major solar projects to power 410,000 Romanian homes

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

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