EIB: looking to invest further in wind and hydro in Romania

The European Investment Bank (EIB) is in discussions to finance Romania’s hydro sector and is looking to further invest in the nation’s wind farm estate

May 2011 - From the Print Edition

Last year the EIB lent 200 million Euro to Czech Republic’s CEZ to fund the development of its 347.5 MW wind park in Fantanele, Constanta county.
“My assumption is that [in Romania] we will see further development in wind, in hydro and biomass and perhaps solar with a bit of delay - but we want to develop the whole envelope of renewable energy,” said EIB vice-president Matthias Kollatz-Ahnen.
In wind, the EIB is likely to finance one or another of the large-scale wind farms in Romania. “The second sector beyond wind is most likely hydro - this is a classic sector and there is room for development,” Kollatz-Ahnen told The Diplomat.
The vice-president argues the first step is the rehabilitation of the existing hydro plants in Romania. “They are not exploited to the maximum degree possible,” he says.
The vice-president says the EIB is looking to investing in groups of small hydro power plants in the future, but does not exclude big hydro. As we went to press, Kollatz-Ahnen said the EIB was “in discussions” about financing Romania’s hydro sector.
The EIB also wants to continue financing the development of Romania’s power grid and could fund the development of substations. Part of the EU’s common energy strategy is to further develop interconnections between different member states’ power and gas networks.