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March 31, 2023
BUSINESS

Hidroelectrica plans EUR 130 M investment

State-owned Hidroelectrica company, currently undergoing an insolvency procedure, is planning to invest in the next years a total of EUR 130 M in the development of micro-power plants to qualify for the green certificate support scheme granted by the state to companies producing energy from alternative sources, Mediafax notes. ‘Promoting investment projects optimised on energy efficiency criteria, using new production capacities that would qualify us for the green certificates grant is a priority to Hidroelectrica up until 2016, because their completion will bring extra revenue of EUR 165 for every MW of renewable energy generated and will support an accelerated return on investment’, Hidroelectrica judicial administrator Remus Borza states in a press release.  In order to qualify for green certificates, hydro-power plants need to have an installed output lower than 10 MW. According to the company, the EUR 130 M investment will bring additional yearly revenue of EUR 14.2 M from the trading of green certificates. The green certificate scheme is a form of state aid going to companies investing in renewable energy production facilities – wind, solar, hydro and biomass. Green certificates are given away free of charge by the state to renewable energy producers who sell them on to energy suppliers. A producer of energy from alternative sources gains both from selling the electricity it produces and from trading the green certificates.

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