First Modern Wind Park in Romania goes into Operation

Constanta, December 17, 2009. Clean Energy Development SRL, an investment management company in Constanta, RO starts up operation of the first 4 modern wind turbines at a location near Mihai Viteazu, county of Constanta.
Andreas Blutke, CEO of Clean Energy Development, says: “We are proud of achieving our team goal of operations start-up still in 2009. I thank our project partners Enercon GmbH and NEG SRL for their hard work and cooperative approach for making this project a success.”

The start-up of the first modern wind park in Romania comes just 10 days after the Romanian Government confirmed the law that regulated the remuneration of renewable energy in Romania.
The use of wind energy for supply of green electric power is just at the beginning in Romania, which holds some of the best locations for wind energy projects in Europe. However, realizing a wind project in Romania still very much relies on the personal skills of the development team, as the procedures in the permitting processes are yet new to most authorities and organizations. It is expected that several hundreds of MW wind power will be established in Romania within the next 5 years, bringing investment and employment to the rural areas outside of the economical centers of the state. Wind energy is expected to contribute significantly towards achieving the Romanian quotas for use of renewable energy.

In 2010, Clean Energy Development which is owned by the Swiss investment firm Stream Invest Holding AG, will operate 28 MW after finalizing the construction of 35 wind turbines to be placed in 4 locations west of Constanta, RO.
“Our investment of over €50 Million in Romania will be followed by additional renewable energy projects,” continues Andreas Blutke, who is also President of the Swiss sponsor firm. “Due to our experience for evaluating and financing good wind energy projects in Romania, we are well positioned to expand our investments, the supply of green energy and green certificates. We hope for the approval of the Romanian remuneration system by the European Commission, which will make good wind energy projects financially more attractive and bankable.”
Stream Invest Holding AG develops and finances wind energy projects throughout Europe. Romania is one of the company’s focus investment countries.