EU consents rescue assistance for Romanian coal power producer

22/04/2015 00:54 Coal


The European Commission declared on Tuesday it would permit Romania's leftist government to offer a rescue help estimated at 167 million lei ($40.3 million) to indebted state-owned coal power producer CE Hunedoara to keep it operating for the next six months.

Coal powers approximately 40 percent of Romania's electricity, but mines and plants are out-of-date and in terrible need of investment. As part of the IMF agreements, the government has fused mines and plants to form two integrated electricity holdings, with intentions to denationalize them. CE Hunedoara represents around 5 percent of Romania's power generation. It is indebted and loss-making, but it is the major employer in the western region of Hunedoara with 6,500 employees. Under EU guidelines, firms can obtain state assistance for maximum six months. They should then either return the funds or present a restructuring plan for authorization.

20 Fossil Fuel Companies Generate One Third Of All Global Emissions

10/10/2019 16:26:00

New data compiled by the United States-based Climate Accountability Institute and revealed by the Guardian confirms what many already know: at the core of the climate crisis is the fossil fuel industry. The crucial finding from the analysis is that 20 oil, gas and coal companies can be directly linked to over one third of all energy industry greenhouse gases in modern history. Despite knowing the destruction and dangers their activities pose to our planet and people, fossil fuel companies have been driving climate change and hold the key to avoiding impending disaster. What this points to is the urgent need for divestment, in spite of skepticism amongst some leaders.


BP, Shell among bidders in $800 million Brazilian oil auction

10/10/2019 16:18:00

BP Plc, Chevron Corp and Royal Dutch Shell Plc are among the companies that will compete for exploration and production rights off the Brazilian coast on Thursday, in the first of three oil bidding rounds scheduled for coming weeks.


Poland plans to triple solar energy capacity this year

10/10/2019 13:03:00

Poland, which generates most of its electricity from coal, is planning to triple its solar energy capacity this year, Prime Minister Mateusz Morawiecki told Polish radio on Wednesday.