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Green power giant EDP increases subsidiary capital

Published

April 1, 2016

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Published:

April 1, 2016

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Spain-based EDP Renováveis SA strengthened the share capital in its Romanian subsidiary by EUR 30 million, according to data published in the Official Gazette. Romania Journal reported the company majority-owned by EDP – Energias de Portugal SA doesn’t plan wind power expansion, rather that it aims to boost existing projects, according to Laura Lazar, who heads asset management.

The portfolio of EDP Renováveis Romania consists of 471 MW in wind turbines in Constanţa, Tulcea, Vaslui and Ialomiţa and 50 MW in photovoltaics in Dolj, Gorj and Mehedinţi. The second-largest wind farm in the country is in Făcăeni in Ialomiţa, controlled by EDP’s Ialomiţa Power Srl. The Portuguese investor conducted a capital increase of EUR 52 million in September.

Last year power production in Romania grew 7.8% to 69.37 TWh, according to data from the National Institute of Statistics. Thermal power stations generated 1.65 TWh, a 6.2% increase on the year, hydropower output fell 12.2% to 16.69 TWh, and nuclear units produced 11.64 TWh or 0.3% less than in 2014. Wind turbines contributed 7.05 TWh, advancing 2.32 TWh, while photovoltaic facilities generated 1.99 TWh or 692 GWh more than in the previous year, the report said.

Installed green power capacity reached 5.15 MW at the end of January, according to transmission operator Transelectrica SA’s data. Wind farms accounted for 3,13 MW, photovoltaic panels contributed with 1,34 MW, small hydro projects had 585 MW and biomass participated with 103 MW.

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