English
The Romanian Energy Efficiency Fund will conclude financing contracts worth 3 million USD this year to start energy efficiency projects worth some 20 million USD in total, according to Executive Manager Mihai Marius Voronca. He added that the Fund was focusing on cogeneration, considering that the price of energy cogenerated by industrial consumers is much lower than the price charged by energy producers. The Fund was established in May 2003 and has identified 93 projects worth 115 million USD since.
Only 16 of them have been turned into contracts, worth 9 million USD, of which the Fund financed 6.3 million USD. Last year, the fund received numerous applications to finance wind energy projects, considering the green certificates scheme that offers incentives for green energy producers. Biofuel projects were also submitted, but the Fund cannot finance either type of projects as it is only focused on improving energy efficiency.
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