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Romania attracting energy investment projects worth more than 10 billion euros

Romania's energy market is attracting increasingly more investors, from developers of wind power systems to giant energy companies that are proposing long-term projects. Investments unveiled over the past year in the Romanian energy sector exceed 10 billion euros in value and thousands of new megawatts in output.

Of the highest interest are the wind, water and biomass power, but also the old heat power. Energy investor officials told daily Business Standard on Tuesday that the reason the investors have come to Romania is their bet on an increase in energy use in Romania that accompanies the country's reindustrialisation and the improvements in the local purchasing power. Ratia Energie, a Switzerland-based company with 2007 earning in excess of 1.1 billion euro, started up shop in Romania as an energy trader on January 1, 2008, and is now mulling investing in energy generation as well. The company is operational in 20 European countries. Renovatio Power, a member company of Renovatio Group, is very much interested in the potentials for wind power generation in Romania, currently carrying out three projects in the provinces of Dobrogea and Moldavia that will generate some 150 MW of electricity. According to estimates of Business Standard, the investment projects should stand at 200 million euros. Energy companies and big energy users have over the past year unveiled plans to build heat and wind power stations. Some of them want to use the energy thus generated themselves, such as the Alro and the Arcelor Mittal aluminium works, while others want to combine use with trade (such as the Petrom and Lukoil oil companies), and others want to win as much as possible from selling energy or from carrying out wind power projects. Belgian Electrabel giant energy company is mulling building an electrical station to generate 1,600 MW in Constanta, on an investment estimated at between 2 and 2.4 billion euros. Italy's Edison, which reported 2007 sales of 8.276 billion euros, is contemplating generating some 1,000 MW more in Romania using heat power. Sinus Holding, a Hungarian company, has announced it intends to set up wind power turbines in Romania to generate 700 MW of electricity, on an investment that might reach 1 billion euro. Sursa: http://www.rompress.ro

Tags: energy romania power euros billion projects company investment euro bet

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