Electrica to invest €650 mln in green energy

State-owned electricity distributor and supplier Electrica plans to become a significant player on the renewable energy production market, through projects totaling €350 WM in wind, biomass and water plants.

We are to invest more than €650 million in clean energy," the company's Development Manager, Bogdan Badea, told Business Standard.

The electricity supplier also considers solar energy, which the Romanian state is encouraging, by granting three green certificates for one MWh of solar energy.

Badea said "Electrica AIMS to become a vertically integrated company, to face extremely fierce competition in Romania. I am talking especially about the large players - [Czech group] CEZ and [German group] E.ON".

Business Standard