Pop believes that beyond the mammoth projects, such as reactors 3 and 4 of Cernavoda or Tarnita-Lapustesti hydropower station, involving overall investments of above EUR7.5 billion, Romania should also “lure” foreign capital with smaller projects.
Moreover, state-run companies, with significant cash, should be paving the way. “The question is if the Romanian state does not invest through cash rich companies, why should a foreign investor come”, says Ovidiu Pop.
As Verbund’s general manager, Pop says that for the time being the Austrian group’s growth in Romania has been halted. Verbund, a group that mainly focuses on hydropower, is one of the most powerful investors in Romania’s wind energy, beside CEZ, Enel or Energias de Portugal. The turbines installed by Verbund are located in the area of Casimcea locality of Tulcea.
“We, through the companies we control, own a capacity of 226.2 MW in Romania. In 2014, we installed nothing. We will not expand further.”
The decision not to take wind power investments further comes as investors have witnessed several changes of the support scheme they relied on when they started their projects.
In late 2014, Verbund announced it would set up a EUR144m provision for anticipated losses in Romania.
According to the latest data provided by Transelectrica, the state-run power grid operator, there were over 3,200 MW installed in wind farms at the end of November 2014. Investments can be put at EUR4.8-5 billion.
(English version by Catalina Apostoiu)