Petrom might produce wind electricity

Romania’s largest company, Petrom – that was acquired by Austrian group OMV at the end of2004 – might become a producer of wind electricity if it wins the battle with the European "heavyweights" in the trade for the acquisition of one of the largest such projects in Romania.
The company already plans to generate 860 MW (12 pct of the 2007 total local energy production) in 2010, when a EUR 500 million gas power plant will be commissioned; another 345 MW of installed wind energy might add to this, turning Petrom into one of the major players on the energy production market, reports Ziarul Financiar.
The project for which the most important European energy groups are vying will be developed in Dobrogea (south-east) by the Polish investment fund Continental Wind Partners (CWP) in cooperation with businessman Emanuel Muntmark, and totals 345 MW – that is half the capacity of a nuclear reactor of the Cernavoda Nuclear Power Plant (south-east).

According to market sources, Petrom and CEZ (the Czech Republic) are among the shortlisted investors. Other companies that might submit bids are E.ON (Germany), Gaz de France, Iberdrola (Spain) and Enel (Italy). The value of the transaction might reach 60 million euro, and the acquisition refers only to all the licences and endorsements required for the start of the effective investment.
Biding bids are expected until the end of this month.
The local market has already seen similar transactions, the most recent being the deals whereby Italy’s Enel acquired Blue Line (holder of the right to develop a 200 MW wind park in Dobrogea) and Spain’s Iberdrola paid about 300 million euro for 1,600 MW to Eolica Dobrogea. Practically all these large companies just buy the licenses required for a wind project, using their own resources for the effective investment.
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