GDF Suez has EUR 100 mln investment plan for wind and gas projects in Romania

Gas company GDF Suez will invest over EUR 100 million in Romania in wind and gas projects this year, more than its annual investment average, according to Eric Stab, GDF Suez’s country manager for Romania, quoted by Bloomberg.

GDF Suez will put around EUR 75 million in a 48 MW wind farm in eastern Romania. The remainder of the investments will be directed to the company's gas business. On an average, GDF Suez has invested between EUR 60 million and EUR 100 million per year in Romania in the last years. Last year, its investments stood at EUR 75 million. The gas company recently bought a wind park in Braila county from real estate developer Belrom. Siemens will deliver 21 turbines for the wind farm that is expected to produce energy equivalent of the annual consumption of 50,000 Romanian households. Production on the site should start at the end of 2012. The wind energy sector has lured others into Romania. New investments this year placed Romania 10th in the wind index issued by Ernst & Young, up from 12th place last year. Romania is on a par with Ireland and Poland on the index, ranking better than Ireland for onshore wind, but worse for offshore wind. “Monsson Group began construction on its 150 MW wind park worth USD 317 million. This has nudged the East European country four places up the rankings to 10th place alongside Poland and Ireland,” writes Ernst & Young. The most attractive area for wind investments in the country is Dobrogea, in the SE region of the country, on the Black Sea shore. GDF Suez is active on the gas market in Romania, where it has 1.3 million clients through the formerly state-owned company Distrigaz Sud. editor@romania-insider.com