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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Another wind farm investor sues Romania for phased off incentives

Kelag, one of the most important energy holding companies in Austria and the owner of three wind farms in Romania, referred Romania to the World Bank’s International Center for the Settlement of Investment Disputes (ICSID) in Washington, accusing the country of violating the so-called Energy Charter Treaty (TEC), Profit.ro reported.

It is the latest of a long series of investors that sued Romania for the incentives initially extended under Law 220/2008, revised in 2010, that were gradually phased out during 2013-2018. The exact object of the arbitration proceedings brought by the Austrian group is also not clear.

The document invoked by Kelag (TEC) is an international agreement concluded in 1994 by European states and the former Soviet Union, which sets out the principles of international energy cooperation and contains provisions on investment protection in the energy sector.

The Court of Justice of the European Union (CJEU) recently ruled that the TEC is incompatible with Community law.

Kelag owns and operates in Romania three wind farms: Mihai Viteazu 1 (13.8 MW), Dudești (8 MW) and Pogoanele (8 MW).

(Photo: Pixabay)

andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Another wind farm investor sues Romania for phased off incentives

Kelag, one of the most important energy holding companies in Austria and the owner of three wind farms in Romania, referred Romania to the World Bank’s International Center for the Settlement of Investment Disputes (ICSID) in Washington, accusing the country of violating the so-called Energy Charter Treaty (TEC), Profit.ro reported.

It is the latest of a long series of investors that sued Romania for the incentives initially extended under Law 220/2008, revised in 2010, that were gradually phased out during 2013-2018. The exact object of the arbitration proceedings brought by the Austrian group is also not clear.

The document invoked by Kelag (TEC) is an international agreement concluded in 1994 by European states and the former Soviet Union, which sets out the principles of international energy cooperation and contains provisions on investment protection in the energy sector.

The Court of Justice of the European Union (CJEU) recently ruled that the TEC is incompatible with Community law.

Kelag owns and operates in Romania three wind farms: Mihai Viteazu 1 (13.8 MW), Dudești (8 MW) and Pogoanele (8 MW).

(Photo: Pixabay)

andrei@romania-insider.com

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