Electrica to invest €150 mln in energy production in 2008

Electrica plans to supply the national energy system with the first megawatts of electricity it will produce in early 2009, Stan said. “We will conclude a partnership with a Romanian company which already owns a wind plant and has the right to produce 70 MW, ” added Electrica’s GM.

According to Stan, 2008 will be the first year when Electrica has an investment budget for electricity production. Furthermore, the company plans to establish a division to manage energy production in the coming years. The company is to invest a total of €300 million in renewable energy production in 2008-2010.

Electrica posted €1.4 billion in consolidated turnover in the first nine months of 2007, 11 percent higher year-on-year, and gross profit worth €53 mln, 43.4 percent lower than in the same period in 2006.