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Iberdrola invests €300 mln in wind farms in Romania

Spanish group Iberdrola, a European energy giant, has acquired 50 wind farm projects in Eastern Romania through its renewable energy division, Iberdrola Renovables, for an estimated value of €200 to 300 million reported local ZF yesterday.

In charge of developing these projects is Eolica Dobrogea (Schweiz AG), which incorporates two companies involved in the renewable energy sector: Romanian-based Rokura and Swiss-based NEK Umwelttechnik AG. The 50 projects acquired have a total installed capacity of 1,600 MW, i.e. more than the two reactors of the Cernavoda nuclear power station in SE Romania. „The transaction is worth somewhere between €200-300 million ($293-440 million), determined by the final capacity. Considering that the windmills installed will have a capacity of 2 MW, this means there will be 800 generators in the proposed area - Dobrogea (SE Romania).

The construction of the first wind farms will start this year and they will start functioning in 2009,” Rokura officials stated. This is one of the most important steps taken by the Spanish company on the local market, after it failed to take over Electrica Muntenia Sud, which was purchased by Italian-based Enel. At the end of last year, Iberdrola Renovables registered an installed global capacity of 7,704 MW, up 74% on 2006. Iberdrola representatives could not be contacted for any further details. „This investment is an important factor towards Romania achieving its European commitments regarding its energy policy.

The investors are confident, that the Romanian authorities will provide the support needed for this major investment to take place,” the quoted sources added. Iberdrola is also involved in a series of energy projects, the most important being the binding offer that it has submitted for the construction of reactors 3 and 4 at the Cernavoda nuclear power station. (Ziarul Financiar)