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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 […]

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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

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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

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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,

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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

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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

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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

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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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Croatia: INA Group posts strong Q1 2025 results with 197% surge in net profit

INA Group reported a net profit of €35.4 million in the first quarter of 2025, reflecting a sharp 197% increase compared to the same period in 2024. The company’s net sales revenue rose by 14% year-on-year to €916.3 million, while clean CCS EBITDA (excluding special items) climbed 38% to reach €88 million. Capital investments for

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Engie Romania acquires 54 MW wind project as part of 1 GW renewable goal

Engie Romania has acquired a fully permitted, ready-to-build 54 MW wind power project in Mereni, Constanța County, furthering its goal of reaching 1 GW of renewable energy capacity by 2030. Construction of the Mereni wind farm is set to begin later this year, with operations expected to commence in 2027. Once operational, the facility is

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