The insolvent state owned energy producer Hidroelectrica plans to invest some EUR 130 million in the coming years in micro hydro power plants in order to benefit from green certificates given by the state to alternative energy producers.
The company, which is under judiciary administration, has made investment projects which could earn it priority green certificates until 2016. It expects this plan to bring it an extra EUR 165 for each MW of produced energy and recover the investment pretty fast, said Remus Borza, the judiciary administrator.
In order to receive green certificates, the hydro power plants need to be below 10 MW of power.
The EUR 130 million investment should bring it some EUR 14.2 million extra revenues from trading the green certificates every year.
The green certificates system is a form of aid given by the state to companies that invest in renewable energy units. Investors in renewable energy get them for free from the state and then sell them to energy suppliers.