76 million Euros to be invested into solar energy in Romania

Chinese Lightway Solar Company plans to invest 610 million yuans (€76 million) into the development of the 50 MW solar-voltaic park in Giurgiu region. Approximately 30% of these investments will be provided by the Company, while the balance will be covered by bank loans.

The Company says it has already obtained the approval of the major economic planning agencies in China for these investments.

«We will start first investments into Romania, where the Government has introduced a number of measures in the solar energy field. Lightway will cooperate with investors of the parent company to get the support for this project», – Lightway Germania General Manager Wei Zhen has noted.

Lightway has entered the Romanian market after the March acquisition of the Romanian Sun Garden Colibasi by the German subsidiary company for €2.49 million.

In April the Romanian Government announced about the 3-year suspension of distribution of green certificates for renewable energy producers. Such measure intends to cut down the electric energy bill amounts for final consumers by 50%, but will, most probably, scare away the investors. In addition to that, Energy Minister Konstantin Nita has announced that he intends to introduce a ban for installation of solar panels at the lands of farmers.

English translation by BSNews


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