BUSINESS

Value of renewable energy projects 400 pc higher than available funds

More than 50 requests for the completion of projects on the production of renewable energy were filed in 2008, their value being 400 per cent higher than the structural funds earmarked for them, Alexandru Sandulescu, the general director of the Energy Policies Office from within the Ministry of Economy (ME), stated yesterday during a conference on wind power, Agerpres informs.

The filed projects sought to use the wind, solar, hydro and geothermal potential. The representative of the ME pointed out that the authorities plan to simplify the procedures for offering the financing. Thus, the number of documents that the companies would have to provide as well as the duration of the whole financing process will be reduced.

Romania’s currently installed wind power capacity stands at 11 MW, according to the representatives of the Romanian Association for Wind Energy. At the end of 2008 Europe’s installed capacity surpassed 65,000 MW. Romania’s goal is for the energy obtained from renewable sources to have a share of 24 per cent in the country’s total energy production by 2020.

The National Action Plan for the attainment of that goal has to be presented to the European Commission in 2010, as per the European Directive on energy obtained from renewable sources. The National Action Plan will have to include the country’s final gross consumption, the national sector targets, each sector’s renewable energy quota and the annual growth of this type of energy within the total energy produced.

Related posts

UniCredit: Agriculture leads to economic growth in H2 too

Nine O' Clock

Gazprom lowers gas exports to Romania again

Nine O' Clock

Vitrina Advertising is the official partner of Pokemondo, the first European startup dedicated to Pokemon Go

Nine O' Clock

Leave a Comment