Romania | News

INVL Renewable Energy Fund I, managed by Lithuania’s INVL Asset Management, has bought another 6 solar power projects in Romania, with a capacity of around 103 MW, thus holding around 269 MW in solar parks locally.

Cement producer Romcim, part of Ireland’s CRH, registered solid results in East-European countries in the first six months of this year, with Romania and Poland in particular boasting high sales.

The pet food and accessories market in Romania appears to be immune to the looming economic crisis, as specialist retailers continue development, even doing it at a fast clip, and when it comes to consumer spending, Romanians are buying cheaper food for them but not for their pets.

Sun Wave Pharma, a company specializing in the production of natural supplements, set up in 2008, has ambitious growth plans locally, in Romania, but also in the region, in ECE, where it wants to expand. For the next 3-4 years, the company’s plan is to open its own plant in Romania, said Bedros Kalfayan, Sun Wave Pharma CEO, in an interview with ZF.

EY Romania’s Strategy and Transactions team assisted Austria’s investment company Enery in acquiring the portfolio of renewable energy projects owned by Canada’s Jade Power Trust in Romania.

OMV Petrom, the largest integrated energy company in South-Eastern Europe, has installed photovoltaic panels in 110 OMV and Petrom filling stations across Romania.

Romania’s digital economy is likely to grow 3.5 times by 2030, to around EUR52 billion, from RON14.8 billion in 2021, with IT&C investments and e-commerce as the main growth drivers, in line with the Digital Challengers on the Next Frontier report by McKinsey & Company.

Romania’s exports of heated tobacco products in 2021 reached RON723 million, overshooting cigarette exports, which totaled RON617 million, but locally cigarettes still dominate in the preferences of 5 million adult consumers, according to Philip Morris Romania.

OMV Petrom, the largest integrated energy company in South-Eastern Europe, has installed photovoltaic panels in 110 OMV and Petrom filling stations in Romania and almost EUR3 million were invested in this project so far.

Global investment firm Actis, based in London, has entered Romania’s renewable energy market by buying the majority stake (51%) in the 450 MW wind farm project Vis Viva in Buzau County.

Turkish group Memorial Hospital mulls entering Romania via the acquisition of some already operational hospitals, according to industry sources.

The ministers of foreign affairs of Ukraine, Moldova, and Romania together with the energy ministers of these countries initiated a new tripartite cooperation format.

Foreign tourists spent a total RON168.8 million in July-August 2022 in Romania, compared to RON155.2 million in the same period of 2021, Global Payments, the world’s largest provider of payment services and technology, said in an analysis regarding the amounts of money traded by card in Romania in the two summer months.

Finnish-held Nokian Tyres, one of the largest tire makers in the world, whose products only go to the aftermarket and not to carmakers’ plants, is considering a new plant in Romania.

Dutch renewable energy group Photon Energy has started the construction of its seventh solar photovoltaic (PV) power plant in Romania, which will have a generation capacity of 7.1 MWp.

Dacia Mioveni and Ford Craiova, the two car plants in Romania, manufactured some 330,400 vehicles in January-August 2022, 15.5% more than in the same period in 2021, as per data from the country's carmakers association ACAROM.

The number of companies in Romania that set off insolvency proceedings increased in the first half of 2022 as compared to the same period of 2021, as per the latest survey conducted by Coface Romania in August 2022.

Romania’s economy is likely to growth almost 4.5 times in the next 40 years, said the representatives of the Foreign Investors Council (FIC) at an event organized by the council. The process can be stepped up, though.

Fressnapf, Europe’s leading company on the pet food and accessories market, has opened one of its first stores in Romania, in Bucharest in Drumul Taberelor shopping center. The company plans to open, by end-2022, another 14 stores countrywide and on the long term it sees the potential of opening 100 stores in Romania.

Romania’s hotel market is expanding further and by 2023, 18 new hotels will be opened in Bucharest and countrywide, in line with the Real Estate “Romanian Hotel Market” report by Crosspoint Real Estate.