Electrica to become energy producer in 2011

Electrica, the largest electricity supplier on the Romanian market, will finalise its first investments in electricity generation in the next two years, with the first two projects set for completion being a wind farm and two micro hydro-electric power plants, worth 100 million euros. The state-owned company announced its intention of becoming an integrated player on the energy market early last year, with all its projects to be completed by 2012, and to amount to over half a billion euros. “As far as wind power is concerned, we will build two farms with a capacity of 50 MW each, from our own funds. The estimated overall value amounts to around 140 million euros, with the projects to start operating in 2011 and 2012 respectively,” said Electrica representatives. The company has enough resources to cover these investments, having collected funds from the privatisation of Electrica’s branches. The privatisation of Electrica Muntenia Sud alone fetched it around 400 million euros, with its sale to Italy-based Enel being completed last year.