Romania: Vestas wins 54 MW contract

Børsen, 16 Apr 2010, online: Link to source home page in Danish

Danish Vestas has received an order from Romanian oil and gas company Petrom for the supply of its V90 wind turbines to SC Wind Power Park SRL in Dobrogea. The wind farm is scheduled to be completed by mid-2011. Petrom estimates that its investment in the project will amount to around EUR 100mn (USD 135.71mn).

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2 comments so far

  1. Dan on

    I would like to see a feasibility study, and a +12 months bankable Wind assesment-There are many problems in Romania, including conflicting action on the Green Certificate offered (set to expire in 2012 on legislation enacted in 2002) while 2005 information is said to allow for 2 Green Certificates for each MW until 2015..

    • windman on

      Dear Sir,

      I will answer your comment, even if it offtopic in the context of Vestas confirming with OMV its January 2009 sale of 3 MW turbines to the SPV that OMV Petrom finally acquired.

      As I have already said, I am not a big fan of sending out information just in order to prove something. If you’re really interested to buy something, let me know what your investor profile is (size/risk/return) and I’ll let you know if I can help, but I’m not trying to convince you if, by any chance you already have a large sum you’d like to invest but are still not convinced.

      The new legislation that you are referring to is Law 220 from October 2008, which has very recently been modified and shall be re-published. But you’re right: there are many problems in Romania, as there are many opportunities. The risk is higher than in countries with a Feed-in-Tariff for 20 years, but so is the return, be it project or equity IRR.

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