wind

Czech energy producer invests $841 million in Romanian wind farm

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CEZ AS plans to increase its total investment in Romanian wind farms at Cogealac and Fantanele to $1.3 billion (€1 billion) this year as it seeks to triple its energy output in the country.
Czech energy producer invests $841 million in Romanian wind farm

CEZ is already one of the biggest investors in wind energy in Romania, together with EDP-Energias de Portugal SA, Portugal’s biggest utility, EON AG, Germany’s biggest utility, Enel SA and Iberdrola SA.

The country is attractive to wind developers because of its location along the Black Sea, where the average wind speed stands at about 25.2 kilometers per hour (15.7 miles per hour).

In an interview with Bloomberg News, Ondrej Safar, CEZ’s project manager, said Romania will likely start granting so-called Green Certificates for each megawatt-hour of clean energy generated beginning in September.

The certificates can be sold on an independent market, and electricity suppliers are obliged to acquire a certain number each year to prove they’re taking some of their power from low- carbon generators. Failure to do so results in a fine.

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CEZ AS

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