Large wind energy investors in Romania post EUR 450 mln losses

The ten largest investors in Romania’s wind energy sector posted cumulated losses of almost EUR 450 million last year. By comparison, they recorded total profits of EUR 112 million in the previous year, reports local Ziarul Financiar. Between 2009 and 2013, the installed capacity of wind energy power plants increased from 14 MW to 3,000 MW, following investments of about EUR 4.5 billion. The investments flourished, as the Romanian state offered a generous support scheme for investors during this period, which was based on green certificates paid by consumers. International energy companies such as the Czech company CEZ, Italian energy group Enel, Austrian group Verbund, or the company Energias de Portugal invested in this field. The support scheme, however, proved to be a burden for consumers, especially for the industrial ones, which paid high energy bills. The state changed the support scheme in mid-2013, cutting the number of green certificates offered to the renewable energy investors, forcing them to rethink their business plans in Romania. editor@romania-insider.com