Paul Smith

OMV Petrom has acquired a 50% stake in three solar PV projects totalling 130 MW in Romania.  As a result of investment, OMV Petrom has entered into a new partnership with Renovatio to develop, build, and operate the Romanian solar projects. “The projects for reducing our carbon footprint and that of our customers, are a central piece of our strategy,” said Christina Verchere, CEO of OMV Petrom. “About a third of the €11 billion investments by 2030 will be allocated to low and zero carbon projects.” Under the new partnership, OMV Petrom and Renovatio aim to install over 1.1 GW of renewables capacity by 2030. OMV’s transaction with Renovatio is slated to close in H2 2024, subject to the necessary approvals. According to OMV Petrom, the new solar projects have already received access to the national power transmission grid. “We are thrilled to continue and extend our partnership with OMV Petrom, aiming towards energy transition and a sustainable economy based on innovation and environmentally friendly technologies,” noted Aurel Arion, CEO of Renovatio. “The green energy to be produced by our portfolio projects is an essential step in view of a future aligned with global environmental objectives.” Franck Neel, OMV Petrom member of the Executive Board, responsible for Gas and Power, added: “We are glad to have Renovatio by our side, they have extensive expertise in renewable energy projects. Partnerships are very important for accelerating the energy transition: by combining our strengths we create higher impact overall and contribute to the change for a cleaner environment.” OMV’s latest deal follows the acquisition of a 50% stake earlier this year in Electrocentrale Borzesti, which owns renewable projects with a capacity of approximately 1 GW. #cleanenergy

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Mr. Petros Panou, Natural Gas Mobility & Remote CNG/LNG Customers Department Director at DEPA Commercial, spoke a short while ago at a seminar session at Posidonia 2024 titled "The shift towards clean energy leads to a one-way path for transport". He mentioned that according to EU guidelines, zero-emission vehicles are considered to be electric and hydrogen-powered vehicles, with incentives for their market promotion. He pointed out that road transport is responsible for 18% of greenhouse gas emissions in the EU, with heavy vehicles and buses contributing 40% of this percentage. For heavy vehicles, he said, there are still no viable solutions due to high costs and other limitations. He also emphasized that the EU has set ambitious targets regarding the production of biomethane, a renewable zero-emission fuel that can replace natural gas in transport without any changes to infrastructure and vehicles, and it represents an important part of the future of road transport. Mr. Panou highlighted that natural gas is considered the most reliable alternative fuel today, offering cost and emission reductions, with a network that meets urban distribution needs. Last but not least, he announced that DEPA will be the first in Greece to start producing biomethane at the end of 2024 from #fisikon stations as #bioCNG. #DEPACommercial

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🌍📉 In the first four months of 2024, Greece's renewable energy sources, including large hydro, outpaced fossil fuels in power production for the first time, generating 8.09 TWh and leading to a historic low in power sector emissions. Renewable output surged by 21.4% annually, turning Greece into a net exporter of electricity and significantly reducing carbon intensity to 268 grams of CO2 per kilowatt-hour, marking a significant step towards a sustainable energy future.⚡️ To learn more about this, click the link in the comments below! ⬇️ #RenewableEnergy #GreeceEnergy #Greece #SustainablePower #CleanEnergy #CarbonReduction #EnergyTransition #BalkanRenewables #GreenEnergy #ClimateAction

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IFC is providing financing for the 461 MW Vifor Wind Power Plant in #Romania to drive renewable energy! Developed by Rezolv Energy and Low Carbon, this project will drive the country's green energy transition and strengthen the private sector in renewable energy. The advanced hybrid energy sales model is set to cut CO2 emissions by an estimated 500,000 tons annually, aligning with Romania’s 2030 climate goals.  Read more ⏩ https://lnkd.in/dPzCvkY2    #ClimateAction IFC Europe

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The new #IENEstudy, entitled “Energy Trends 2023-2024”, provides comprehensive information and data on the emerging trends in the European and mainly in the Greek energy market for 2023 and the first quarter of 2024. More specifically, the changes in #electricity, #naturalgas and #oilprices at the level of #Europe and #Greece, the changes in total energy demand, as well as in the demand for electricity, natural gas, oil and #petroleum products, will be covered in this specific study. At the same time, imports and exports, mainly of electricity and natural gas, as well as the fuel mix in power generation, are some of the energy parameters that will be analyzed. From the first edition of the new series of IENE studies on the trends of the Greek energy market, important and useful information can be concluded for the period 2023-2024, such as the steep decline in electricity and natural gas prices in Europe and Greece, the decrease in the total energy demand, and electricity and natural gas demand in particular, the decline in electricity exports and the increase in electricity imports in Greece. Also, natural gas imports to Greece decreased, but Russian natural gas imports through Sidirokastro entry point and LNG increased, while fuel prices in Greece continue to be among the highest in Europe, despite the decline in international oil prices. At the same time, further problems are expected in the electricity grid within 2024, due to the oversupply of RES and the saturated electricity system. Therefore, discussions will come to the fore between the Regulatory Authority for Energy, Waste and Water (RAEEY), #MinistryoftheEnvironmentandEnergy and the IPTO-Independent Power Transmission Operator on the issue of compensation for self-producers, as the quantities of rejected energy will increase. The entire study is available here https://lnkd.in/dg-DweT5

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Enaon CEO Barbara Morgante participated yesterday in the 9th Energy Transition Symposium organized by the Hellenic Association For Energy Economics (HAEE). Speaking at the session "The importance of natural gas grids for our energy systems”, together with the Deputy Minister of Environment & Energy Alexandra Sdoukou and the CEO of DESFA maria rita galli, Ms. Morgante referred to enaon's mission in Greece to develop smart, flexible and digital gas infrastructure, highlighting the crucial role they play in country΄s path towards a cleaner energy future. To read the full press release, follow the link in the first comment below the post. #enaon #energytransition #enaoneda #haee #energytransitionsymposium #haeesymposium  #futureofenergy  #energychallenges

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📊 Our Natural Gas Data for the first quarter of 2024 are now available, reflecting a growth trend in domestic natural gas consumption across key sectors. 🌐 DESFA’s infrastructure continues to play a vital role in powering Greek industries and communities, providing a reliable, efficient, and cleaner energy solution for power production, distribution networks, and various industrial applications. #desfa #GRgasdata #naturalgas #LNG #energysecurity #diversification #operatingwithexcellence Learn more 👉 https://bit.ly/4aUvhMJ

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📢 In the second edition of #EnergyearGreece, a crucial discussion on the future of #renewableenergy 💚 was brought to the forefront. Industry leaders, experts, and government officials gathered to address the key challenges and opportunities in the country's energy transition. Giorgio Inforzato Karmelo Lopez de Arbina Yannis Vougiouklakis Christian Comes Miquel Yafari Duran Costas Caralis Ypatios Moysiadis Nikos Giannoulis Dip.Ing. , MSc , MBA , PMP Dimitris Kintsakis Ζέφη Δημαδάμα, Zefi Dimadama, phD

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What does a successful energy transition look like? It looks like this 👇 How do you optimise success? By expanding regional inteconnectivity 🤝 How do we fund it? By monetising all national energy resources 💪 ☀️ 💨 ⛽️

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⚡ Greece is rapidly emerging as an energy hub in Southeast Europe, helping to ensure Europe’s energy security and leading the way to a green future. 📈 HELLENiQ ENERGY is driving this transformation by investing billions of euros in projects across the energy value chain, and aims to increase its renewable energy capacity six-fold over the next decade to 2 Gigawatts. “Energy will be critical to the region’s future economic growth. We believe that we can play a role in that future. And we believe in Greece,” says Andreas Shiamishis, CEO of HELLENiQ ENERGY. Check out our new video series Greek Business Voices and find out why investors believe in Greece. https://lnkd.in/dsAHgaMm #Greece #EnterpriseGreece #HELLENiQENERGY #GreekBusinessVoices #WebelieveinGreece

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Innosea - part of #TheRenewableEnergyConsultants OWC - has supported a Romanian company in plans to develop #FloatingSolarPV plants on hydropower reservoirs. Innosea provided a comprehensive #TechnicalDueDiligence scope, to back the development project, supporting Romania's #EnergyTransition plans. ☀ Read more about the project in our carousel below 👇🏼 Romania boasts significant potential as a #RenewableEnergy hub on the Black Sea, with abundant resources in wind and solar, as well as market appetite with a number of policy and regulations in place to support #GreenEnergy development. ⚡ Innosea applied its experience across +100 floating #Solar projects, together with our comprehensive offering and reputation in technical due diligence for #RenewableEnergy projects, to support this project. We also collaborated on the project with our sister company ABL, who has a local presence in 📍 Constanta, Romania, to ensure we were able to provide our global expertise with local market knowhow. Find out more about OWC and Innosea's global offering in supporting solar PV development onshore and offshore, throughout their development cycle, anywhere in the world 👉🏼 https://owcltd.com/solar/ #SolarPower #TheRenewableEnergyConsultants #MarineRenewableEnergy #ABLBlackSea #BlackSeaEnergy #BlackSeaRenewables #Romania

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Ellomay Capital Ltd. (ELLO) Announces Release of Dorad Energy Ltd’s Financial Statements for the Three Months Ended March 31, 2024 Ellomay Capital Ltd. (ELLO), a key player in renewable energy and power projects spanning Europe, Israel, and the USA, has announced the release of financial statements for the quarter ending March 31, 2024, for Dorad Energy Ltd. (Dorad), a company in which Ellomay indirectly holds approximately 9.4% through its indirect 50% ownership of Ellomay Luzon Energy Infrastructures Ltd. (formerly U. Dori Energy Infrastructures Ltd.) (Ellomay Luzon Energy). On May 31, 2024, Amos Luzon Entrepreneurship and Energy Group Ltd. (the Luzon Group), an Israeli public company holding the remaining 50% of Ellomay Luzon Energy, published its quarterly report in Israel, as […] Read the full story here: https://lnkd.in/gCzqWcsj #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #middleeast #africa #india #asiapacific #asia #doradenergy #ellomaycapital #europe #greenenergy #israel #luzongroup #middleeast #renewableenergy

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The heads of the two operators further discussed the next steps for the maturation of the interconnector. #subsea #offshoreenergy IPTO-Independent Power Transmission Operator

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Montenegro’s energy transition: A path to economic opportunity #Economy #Energy #EnergyTransition #Montenegro #RenewableEnergyProjects #RenewableEnergySources https://lnkd.in/duKRWnRm

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DESFA Gas Data for the 1st Quarter 2024 are out 📊  📈 30.91% #increase to domestic consumption, hitting 16.22 TWh, compared to the same period last year  🔌Electricity production units continue to represent the largest part of total consumption, covering 55.49% of #domesticdemand, reaching 9.00 TWh ➡  Sidirokastro was the main gateway of #naturalgas into the country, accounting for 43.8% of imports, with 7.25 TWh 🔵 #LNG played also a leading role, with #Revithoussa accounting for about 39% of total natural gas imports with 6.93 TWh. DESFA's infrastructure continues to respond efficiently and with increased #flexibility to the changing #energy landscape, contributing substantially to the diversification of natural gas supply sources and #securityofsupply.  #desfa #GRgasdata #energysecurity #diversification #operatingwithexcellence Learn more 👉 https://bit.ly/4aUvhMJ

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Michael Thomadakis, Chief Strategy & Development Officer of #DESFA, will be speaking at the upcoming Hydrogen and Green Gases Conference by energypress.gr, sharing, among distinguished speakers, his insights and expertise on the challenges of the #energytransition and the transformative role of #hydrogen and #renewablegases in decarbonization and building a more #sustainable energy system. #GreenGases #RenewableEnergy #CCSTechnologies #HydrogenEconomy #Decarbonization #Sustainability  

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