Enel Energie to pay EUR 2bn for green certificates

Enel Energie Bucharest, from Italy’s utility group Enel, secures its green certificates for a period of ten years, signing acquisition agreements with companies within the group; the value of certificates may exceed EUR 2bn. Italy’s Enel is present on the Romanian market since 2005. Enel is an integrated company, including in Romania, having electricity production, distribution and supply activities. In order to ensure green certificates, Enel Energie, with Enel Energie Muntenia, will buy from Enel Green Power Romania during July 1^st 2013 – June 30^th 2023 a maximum number of 24.6mln green certificates. The cost of certificates estimated by Enel Energie Bucharest ranges between EUR 656.7mln and EUR 1.539bn. Another contract, for the same period, will be signed with Enel Trade Romania, and aims at acquiring maximum 7.95mln green certificates, whose estimate price ranges between EUR 212.6mln and EUR 500.1mln. Proposals for signing such agreements have been approved by the General Meeting of Shareholders of Enel Energie Bucharest. In the case of both agreements, the amount of green certificates can be supplemented by no more than 15%.