The company has already ordered several feasibility studies for the photovoltaic and wind projects, said Remus Borza, head of the company’s designated administrator Euro Insol.
“We have ordered feasibility studies and we plan to focus only on those investments that are eligible to receive green certificates,” Borza told Mediafax.
Producers of renewable energy benefit from government support via a green certificates scheme, which allows them to recover part of the production costs. Each renewable energy producer is granted a number of green certificates for power fed into the electricity grid. The subsidies are not available for producers of conventional energy.
Hidrolectrica, Romania’s top energy producer, has filed for insolvency in June this year and is currently undergoing reorganization. According to Borza, Hidrolectrica will complete its reorganization in the second half of 2013.
The company expects full-year losses of 300 million lei (EUR66.2 million) in 2012, largely due to a severe drought this summer. Hidroelectrica posted a net profit of RON6.4 million in 2011.