July 16, 2008

Romania Attracts 10-Billion-Euro Energy Project Investment

Romania attracts 10-billion-euro energy project investment

BUCHAREST, July 15 (Xinhua) -- Romania's energy market is attracting more and more investors. From developers of wind power systems to giant energy companies, investments unveiled over the past year exceed 10 billion euros (15.86 billion U.S. dollars) in value and thousands of new megawatts in output.

Romanian daily Business Standard reported Tuesday quoting energy investor officials as saying that investors come to Romania because of the increasing energy consumption in Romania's reindustrialization and rising purchasing power.

Energy companies and big energy users have over the past year unveiled plans to build heat and wind power stations.

Belgian Electrabel giant energy company is mulling building an electrical station to generate 1,600 MW in Constanta, in an investment estimated at between 2 and 2.4 billion euros (3.17 and 3.81 billion dollars).

Italy's Edison is contemplating generating some 1,000 MW more in Romania using heat power.

Sinus Holding, a Hungarian company, has announced it intends to set up wind power turbines in Romania to generate 700 MW, in an investment that might reach 1 billion euro (1.59 billion dollars).

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