Investments worth 100s of million of Euro in Romania’s renewable energy sector have been postponed for more than two years due to unstable legislation.
But there are signs that the regulatory framework that investors have been waiting for will be in place by mid-2010.
Unclear laws have prevented banks from funding green energy projects and holding up the sector from development. One of the most attractive markets for wind farms in east Europe in the mid 2000s, Romania has recently been abandoned for Bulgaria, Hungary and Poland.
“Some companies have either put their projects on hold or have given up developing wind farms in Romania,” says Dana Duica, executive director, the Romanian Association of Wind Energy.
But this amended legal structure, which initially attracted investor hopes, was never applied. The new Government now wants to improve Law 220 for enforcement by mid-2010 at the latest. Minister of Economy Adriean Videanu has stated this is an urgent objective.
Read the entire article here: The Diplomat