Electrica SA plans to outsource the two wind farm projects

Electricity distributor and supplier Electrica SA plans to outsource the two wind farm projects, in the stage “ready to build”, because investments in renewable energy are no longer so attractive as in the past. Electrica had announced since 2010 that it wanted to enter the renewable energy market and planned to build three wind parks for this purpose, each with 50MW, but in the meanwhile it has given up one of these projects.

During its listing on the stock exchange, a decision was made to delay renewable energy investment projects, based on a recommendation of the privatization consortium.

The total investment in these wind parks, according to the estimate, would be EUR 68.5mln (RON 308.25mln) for the wind park of 45MW in Frumuşiţa (Galaţi County). As for the wind park of 48MW in Chirnogeni (Constanţa County), the total value according to the updated estimate is EUR 90.5mln (RON 407.25mln).

The amounts spent so far by Electrica for these two projects are RON 8.37mln for Frumuşiţa wind farm and RON 4.15mln for Chirnogeni wind farm. The annual investment plan for 2015 consolidated at Electrica group level is almost RON 860mln.

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