News

Repower gives up on investments in renewables

Published

June 16, 2015

Comments

0

Share

Published:

June 16, 2015

Comments:

0

Share

A Swiss group changed its mind about investing in renewable energy sources in Romania, due to law changes, portals Wall-street.ro and Capital.ro said.

Private power supplier Repower Furnizare Romania, the local subsidiary of Swiss-held Repower AG, was planning to invest about CHF 200 million (EUR 192 million) in renewable energy production units, as well as in hydropower plants. As reported by Energy World magazine’s portal, the capacity should have amounted to 100 MW by 2020.

„Romania is the fourth key market, after Switzerland, Italy and Germany. Unfortunately, the budget for 2020, as defined by the board of directors, is used to build market capacities in Romania… We wanted to invest in the renewable energy sector, including hydro design capacities of 5 to 10 MW. But due to the amendments to the legislative framework we had to stop,” said Dan Dragoş Drăgan, chief executive of Repower Furnizare Romania, as quoted by portal Business-review.eu.

Despite its recent decision, the local subsidiary, which has a 5% market share among independent power suppliers, will still invest approximately EUR 1 million in the local market, in new products and services. The company will also focus on energy retail this year.

Related Articles

vinca regional sanitary landfill sepa report

Vinča regional landfill improves Serbia’s waste management in 2021

28 November 2022 - The new landfill in Vinca started operating in August 2021, according to the website of its operator Beo Čista Energija

Dedovic Djedovic Serbia coal plant Kostolac B3 October

Serbia to put coal plant Kostolac B3 into operation as early as October 2023

28 November 2022 - The last batch of equipment for the construction of the Kostolac B3 coal-fired thermal power plant has arrived at the site, by ship.

Turkey world fifth highest arch dam hydropower plant

Turkey completes world’s fifth-highest arch dam with hydropower plant

28 November 2022 - The Çoruh river is now filling the reservoir at the 558 MW Yusufeli hydropower plant and arch dam, the world's fifth-highest of its kind

Solar power generation to increase ten times in Montenegro energy balance

Solar power generation to increase tenfold in Montenegro next year

25 November 2022 - According to the estimate in the Energy Balance of Montenegro for 2023, electricity production will drop 12.63% this year