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Green energy producers in Romania facing losses

Published

May 1, 2016

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Published:

May 1, 2016

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Renewable Energy Producers Organization in Romania (PATRES) started a protest movement in order to present the difficult financial position of investors in this field, the Business Review reported. According to a press release of the organization, the companies are registering losses of around EUR 201 million due to constant changes in legislation. The renewable producers have been struggling to make profit after the government reduced the incentives due to higher electricity bills for residential and industrial consumers.

Member companies have invested close to EUR 2 billion in the local renewable sector, in addition to another EUR 281 million in other industries, and these firms employ 10,000 people, stated PATRES. Its 200 members said Romania should enforce the legislation that was valid when the investments were made. Furthermore, the organization is calling for scrapping of the validity period for green certificates and for their taxation on the moment of sale and not of issuance.

PATRES represents companies that have total installed capacity of approximately 800 MW.

 

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