German company Max Boegl International and its Romanian partners will resume the development of a 99MW wind farm project in Tulcea county, eastern Romania, previously put on hold in 2014 - when the Romanian Government slashed the support scheme for green energy projects.

The project, estimated at EUR 150 million, is developed by Energia Mileniului III - a company controlled by Max Boegl, Ziarul Financiar reported.

BTG Wide Consulting, Max Boegl's local partner in the project, has three equal shareholders, one of them being Miorita Videanu - the wife of Adriean Videanu, a former minister of economy (2008-2010).

During Videanu's term, the Romanian Government passed legislation that provided strong support for investors in the renewables sector, which supported the first wave of green investments, particularly in the wind sector (in 2009-2014), a period in which over EUR 4.5 billion were pumped into such projects.

However, the boom ended in 2014, when the Government slashed the support scheme for renewables after realizing that the high costs for supporting that scheme would burden the final consumers (households and companies) and destabilize the local energy system.

andrei@romania-insider.com

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