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February 3, 2023

French Group Filasa gives up investments in Romanian wind farms

The measures announced by Romanian authorities last spring in order to discourage massive investments in renewable energy resources because of the high costs borne by consumers are starting to have effects.
Thus, France’s Filasa, a group controlled by the Lacoste family, recently announced that it is giving up its investments in several wind farms.
The Eolenvest company (70 per cent of which is owned by Filasa International) has filed for insolvency on November 6. In 2011 the company announced investments of over EUR 3 bln in several wind farms with a total capacity of 2,500 MW.
Filasa International officials stated last year that the works on 12 wind farms in Suceava County will continue despite the delays. In the autumn of 2011 the company had announced an investment of EUR 780 M in Suceava, an investment reevaluated at EUR 1 bln one year later. Construction works were scheduled to start in September 2012.
Romania has experienced an investments boom in electricity produced from renewable energy sources, thanks to one of the most generous support schemes in Europe. At this moment a capacity of around 4,000 MW is installed, theoretically covering over 40 per cent of the national electricity capacities. In the past year the authorities have revised the support scheme, in the sense of reducing the number of green certificates offered to producers of electricity from renewable energy sources.

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