Eleven solar projects with an overall capacity of around 36 MW,which entail over 100 million euros in investments, have contractsto connect to the grid, according to data from Transelectrica (thenational electricity transmission company).
Only one of these has become operational this year, with theinvestor being Cypriot group Renovatio. The same group invested 10million euros last year in a photovoltaic panel plant in Satu Mareand built wind power farms worth around 400 million euros inpartnership with Energias de Portugal.
Compared with the wind power segment, which saw investments ofaround 800 million euros last year, solar projects are only intheir early stages. The main reason for this is that the supportscheme to promote these projects, Law 220/2008, is not enforceableunless approved by the European Commission and unless secondarylegislation is in place. Since it costs twice as much to invest inthe solar power sector as in the wind power sector, most investorsprefer to wait for a stable legal framework to be created.
However, there are companies, which decided not to wait any longer.Renovatio, a Cyprus-based group with around 45 million euros inturnover in 2009, says it started operating a 1-MW solar project inSingureni (Giurgiu) at the beginning of this year.
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