Romania: Swedish OX2 to reviving Romania’s wind projects, SEE Energy News
In 2011, four local companies were established to develop wind projects in Romania: South Wind Cherchezu, South Wind Cherchezu 2, South Wind Dumbraveni and South Wind Viroaga, with combines installed capacity of 402 MW. Swedish company OX2 acquired these companies from the Luxembourg investment fund in liquidation Nereo Greencapital.
OX2, the largest developer of onshore wind farms in Europe, plans to revive several 10 years old projects for the construction of wind farms in Romania’s Dobrogea region with a combined installed capacity of over 400 MW.
In 2014, the National Energy Regulatory Authority (ANRE) issued permits for the four projects, but they were not implemented, due to significant legislative changes in the Romanian RES support scheme, which was unfavorable to investors. Therefore, the permits expired in 2016.
OX2, which recently announced its intention to be listed on the Stockholm stock exchange, said that it will invest half of the projected proceeds from the initial public offering of some 330 million euros into increasing its wind portfolio.
Last month, electricity transmission system operator Transelectrica said that no new electricity generation capacities could be licensed for connection to the network in southeastern Romania (Dobrogea and surrounding regions) until the ongoing projects for increased the network’s capacity are completed. The statement was not specific in regard to the type of generation capacities, but it is particularly relevant for the renewable energy (solar and especially wind) projects that were already launched or are planned in the region, as part of a new wave of such investments after the slowdown prompted by the change in regulations around 2013.