New state aid scheme in the renewable energy sector

A new state aid scheme supporting investments in the production and distribution of heat from renewable energy sources (such as biogas, biomass and geothermal) (“State Aid Scheme“) has entered into force in December 2020. The State Aid Scheme is rooted in the European Green Deal Investment Plan and the Commission’s Guidelines on State aid for …

Romania: Update of the Credit Institutions Licensing Requirements

At the end of December 2020, the National Bank of Romania (“NBR“) consolidated and updated the regulations dealing with the licensing of credited institutions by issuing Regulation no. 12/2020 on authorisation of credit institutions and changes in the status thereof (“Banking License Regulation“). The Banking License Regulation takes over, inter alias, the provisions of the …

Significant amendments in the energy sector – bilaterally negotiated PPAs have green light

As of the entry into force of the Electricity and Natural Gas Law no. 123/2012 (“Energy Law“) in July 2012, all wholesale electricity transactions had to be concluded exclusively on the centralized market (“OPCOM“), in a transparent, public, competitive and non-discriminatory manner. The conclusion of bilateral power purchase agreements (“PPAs“) outside OPCOM markets was not …