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A company that counts a Romanian senator among its shareholders obtained the technical approval for its planned 129.5 MW wind power plant in the country’s east. It is scheduled to be completed in 2025, but Nord Wind Power indicated it may sell the project or team up with a larger player.
Transmission system operator Transelectrica gave a green light last month for Nord Wind Power’s first technical grid connection request for its wind farm project in Dumești in Iași county, breaking the ice for this year’s large renewable energy investments, Ziarul Financiar reported. The document shows the endeavor is envisaged to be finished in 2025.
The 129.5 MW project in Romania’s east is worth EUR 100 million. The article adds one of the shareholders of Nord Wind Power, with 16.3%, is Chair of the Senate Committee for Agriculture, Food Industry and Rural Development George Scarlat. His company Fermsuin also holds a stake.
Scarlat: The government doesn’t support domestic firms in the sector
Scarlat was also the secretary of state at the Ministry of Agriculture and Rural Development. Corina Lorenţ is registered as the majority shareholder. The company was founded almost a decade ago, but it reported no turnover for four years now.
Nord Wind Power may not implement the project, or at least not by itself, according to Scarlat’s statement quoted by the news outlet. He revealed there are issues with financing and said the government gives no support whatsoever to domestic firms in the strategic sector.
It means such projects can be carried out by large companies with easy access to financial instruments, Scarlat added, hinting at the possibility of a sale.
However, both domestic and foreign companies have pledged billions of euros for a range of mid-sized and giant renewable energy and hydrogen projects in Romania.
October 25, 2022
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