“The time for speculation is over!” said specialists interviewed by Business Standard.
“Faced with a liquidity shortage, some developers will attempt to restructure programs and sell their projects. Only companies which are solid in their home countries will survive, as they are able to finance their activities, since banks are now reluctant to grant loans because they do not know what interest rates to apply,” said Mihai Mares, Partner on the Garrigues Romania law firm, local subsidiary of Spain’s largest law firm.
Mares added that Romania finds itself in a favorable position because fewer, albeit serious, specialized, and financially-viable investors will remain.
Valeriu Binig, Financial Advisory Manager of Deloitte financial advisory company, indicated that obviously not all parks now proposed for development and exceeding 15,000 MW will be finalized, and the success rate will be below the European Union’s average of 25 percent.
