Petrom battles against European giants for wind power contract

Petrom could start to generate wind power if it manages to fight off competition from European heavyweights. In addition to the 500 million-euro natural gas power plant (with a 860 MW capacity) that the company plans to open in 2010, another 345 MW wind power project could follow, which would turn the largest Romanian company into one of the leading players on the electricity generation market. The potential project will be developed in Dobrogea (SE Romania) by Polish investment fund Continental Wind Partners (CWP), in partnership with businessman Emanuel Muntmark. The project’s overall capacity amounts to 345 MW, i.e. half the capacity of the nuclear reactor at the Cernavoda power plant. According to market sources, Petrom and CEZ (from the Czech Republic) are on the shortlist of potential investors. Other possible companies include E.ON (Germany), Gaz de France (France), Iberdrola (Spain) and Enel (Italy). The value of the transaction could reach as much as 60 million euros, and will entail securing all the licences and permits necessary for the actual investment, whilst binding offers will be submitted until the end of this month. The latest transactions of this kind involved Italian-based Enel, which bought Blue Line and won the right to build a 200 MW wind farm in Dobrogea, as well as Spanish-based Iberdrola, which paid around 300 million euros for projects that generate 1,600 MW.