CWP: We could not get 1bn euros to develop Dobrogea wind project

Continental Wind Partners (CWP), the US-registered wind projects developer, which last year managed to sell a 600 MW wind farm in Dobrogea to Czech energy group CEZ, says the money from this deal will be used for the development of other projects, including in Romania. “The money we got from selling this project is opening the doors to a number of countries where we want to develop wind farms: Australia, Croatia, Bulgaria, Serbia, and more in Romania. This was our first and biggest deal,” says Adam de Sola Pool, chief executive of CWP. According to the CWP representative, the company decided to sell the project in Dobrogea (SE Romania), both because of the lack of the necessary funds, and of the lack of a well-devised legislation on green energy investments at the time. “We are not utility operators. Back then (spring 2008), when we decided to sell the project, the legislation for supporting investment in green energy was not in place. After we sold the project to CEZ, this legislation was approved, but anyway, in order to build the project we needed over 1.1 billion euros. We couldn’t get this amount of money,” added Adam de Sola Pool.