Iberdrola Renewables has signed a contract with Eolica Dobrogea (Schweiz), a company owned by the Swiss engineering group NEK and the Romanian company Rokura, to acquire a portfolio of wind projects in the Dobrogea region in eastern Romania for between €200 and €300m.
The 50 wind farm projects, with a total output of around 1,600MW, are in various phases of development, and are expected to start operating in 2009.
Under the terms of the agreement, Eolica Dobrogea will be responsible for obtaining planning and construction permits for the farms. Once completed, they will be built and operated by Iberdrola Renewables.
Apart from the wind farms acquired by Iberdrola, Eolica Dobrogea has several other wind energy projects currently under development in the Dobrogea region.
For its part, Iberdrola Renewables is also developing what it believes will be the largest wind farm in Estonia. Located in the municipality of Luganusewhich, it will be capable of generating150MW of power.
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Frankly a £1000 cut on VAT will make little difference if buyers cannot be tempted by the completely unsustainable level of discounting being offered...