The Diplomat Bucharest

The Extraordinary General Meeting of Shareholders (AGEA) Electrica approved today a series of decisions, including two investment projects in renewable energy production and energy storage. The Satu Mare 3 photovoltaic park project has an estimated investment value of EUR 36.15 million and an installed capacity of 62.5 MWp, and it is located near Doba commune, Satu Mare county. The Bihor 1 photovoltaic park project has an estimated investment value of EUR 46.89 million and a projected installed capacity of 77.4 MW, and it is located in Bihor County, in the area of Inand, Cefa and Mădăras. The project also provides for the option of installing a storage capacity. https://lnkd.in/dQHbSM8R

TeraPlast Group inaugurated its new Opal stretch film factory located in the Sărățel Industrial Park. This production facility represents a total investment of EUR 18.5 million, of which EUR 5.3 million was provided as state aid. The Opal factory addresses a market of approximately 30,000 tons annually, valued at EUR 34 million. Currently, imports account for 51 percent of this demand, totaling 14,000 tons or EUR 17.3 million. With an annual production capacity exceeding 14,000 tons, the Opal factory has the potential to entirely replace these imports with high-quality, locally produced goods, manufactured using cutting-edge equipment. https://lnkd.in/d8T5A7G9

MOL Group today announced its financial results for Q3 2024. The company reached a profit before tax of 503 million USD in this period and 1.4 billion USD in the first nine months of 2024. Upstream reported high production levels, while Downstream’s performance was lowered by the macro-environment and planned turnarounds. Consumer Services performed flat year-on-year with positive fuel sales contribution and affected by one-off effects. The results of the Circular Economy segment show large fluctuation but remain in the red on a free cash flow level as investments in the waste management system remain elevated. https://lnkd.in/dGrB4u_2

IMPACT Developer & Contractor started the last quarter of the year with record sales. In October, the company traded 73 units in the Greenfield Baneasa compound, with a value of over 8 million euro. This represents a monthly maximum in the last 5 years. 2-room apartments were in the top of buyers’ preferences, accounting for 50 percent of the units traded, followed by studios (33 percent) and 3-room apartments (17 percent). The units sold are in the new phase of development of the neighborhood, in which 732 apartments are ready to welcome their owners. https://lnkd.in/dYYbRA_x

Restart Energy finalized the implementation of a photovoltaic project worth 300,000 euros for Teleferic Cindrel Company, administrator of the ski area Păltiniș Arena. The project consists of 800 panels located on the ground in Păltiniș Arena, Sibiu County. The panels cover an area of 5,500 square meters and will produce 445 MWh of energy per year, fully covering the company’s energy consumption. https://lnkd.in/dVMSSfhB

The new supply of retail projects could exceed the threshold of 200,000 sqm in 2024, when considering that 140,000 sqm of shopping centers and retail parks were delivered nationwide in Q1 – Q3, according to the Cushman & Wakefield Echinox real estate consultancy company. In 2023, developers completed 213,000 sqm of new retail spaces, a record of the last seven years. “The retail market is going through a very positive context, having successfully passed the more difficult periods of the last few years. The YTD 2024 impressive retail sales growth has remained well above the EU average, thus encouraging the development of new projects, but also the expansion of retail networks, whether we are referring to hypermarkets or supermarkets, fashion, DYI or other product segments. Interest in new retail schemes remains high, an important indicator in this respect being the occupancy rate of the projects delivered in recent years, which is over 90 percent,” explains Dana Radoveneanu, Head of Retail Agency Cushman & Wakefield Echinox. https://lnkd.in/e-5i_NFi

OMV Petrom and TAROM, Romania’s national air transport company, announce the signing of a contract for the supply of sustainable aviation fuel, a first for Romanian aviation. Starting from January 1, 2025, OMV Petrom will supply TAROM with SAF aviation fuel, at four airports in Romania, in compliance with the requirements of the RefuelEU Aviation Regulation: Henri Coandă Bucharest International Airport, Avram Iancu Cluj International Airport, Traian Vuia Timișoara International Airport and Iași International Airport. https://lnkd.in/ehd-4ENT

This year's edition of AUTOMOTIVE FORUM & AWARDS FOR EXCELLENCE takes places on November 14, at Nord Events Center by Globalworth, Summit Hall and is organized by The Diplomat Bucharest & Automotive Today Book your seat here: https://lnkd.in/eKEebsF For The Automotive CEO Forum 2024, we welcome in the panel Florin Marian Spataru, Counsellor, Prime Minister's Chancellery, Guvernul României Event main hours: 14:00 - 15:00     Welcome Guests & Networking 14:00 – 20:30     EXPO AREA   15:00 - 15:15     Presentation by Ovidiu Popescu, Energy and Sustainability Partener, Deloitte Romania 15:15 - 16:30    THE AUTOMOTIVE FORUM | SESSION I 16:30 - 16:45     Coffee Break 16:45 - 17:00    Presentation by PAOLO VANIGLIA, Key Technology Manager Mobility Platform for EMEA region, KUKA 17:00 - 18:00   THE AUTOMOTIVE FORUM | SESSION II 18:00 - 18:15    Presentation by ROXANA GITA, Cluster Sales Manager, DS Smith Packaging Romania 18:15 - 19:00    Networking Cocktail & Gala Dinner 19:00 - 20:30   THE AUTOMOTIVE AWARDS FOR EXCELLENCE GALA CEREMONY ______________________________________________________________________________ The event is supported by: Strategic Partner: ACAROM - Asociația Constructorilor de Automobile din România   Platinum Partner: NXP Semiconductors Romania Gold Partners:  Infineon Technologies, KUKA, Bosch Romania, PwC Romania, Leoni Wiring Systems Romania, FEV Romania, DS Smith, Deloitte, The National Institute for Research & Development in Informatics - ICI Bucharest Partners: MET Group, ROMBAT, Magna International Romania, Continental, Schaeffler, Eberspächer Group,ELBA-COM, BMF GRUP ROMANIA, CÂMPULUNG INDUSTRIAL PARK Supporting Partners: Confederatia Patronala Concordia , AHK Romania, CLUJ IT Cluster, Lovering & Partners - Sales, Business & People Performance Consultants Media Partners: Outsourcing Today, Sustainability-Today, Financial Intelligence, Romania Durabila, Revista Economistul, Ziarul BURSA

Electroplast, one of Romania’s leading electrical cable manufacturers, announces the implementation of an investment project worth over 9 million euro, aimed at technological modernization of the factory and through expanding its presence in major railway infrastructure projects. https://lnkd.in/dwm6-da3

Black Friday is the most significant retail event of the year, and nearly 53 percent of Romanians have prepared to hunt for the biggest discounts. However, the faster rise in living costs compared to salaries and the effects of inflation have eroded purchasing power over the past year, impacting the shopping budget. Thus, while most plan to spend at least 500 RON, the value is comparable to or even lower than last year for 72 percent of consumers, according to a survey conducted by tbi bank at a national level in October with a sample of 1,171 respondents. A third of them intend to spend at least 1,000 RON. However, over 43 percent do not have savings set aside and rely on their October salary or plan to borrow. “Romanians remain interested in the largest retail event of the year, Black Friday. Most of them are considering buying items they need personally or for their home, and some are even thinking about buying Christmas gifts during this period. Additionally, over 58 percent will focus exclusively on online purchases, and a similar percentage will use a shopping app,” says Ionut Sabadac, VP Merchant Solutions at tbi. https://lnkd.in/dCXcD7iY