The proposal now signed into law reinforces the framework in place and the country’s commitment with renewable energy, by:
· Increasing the mandatory quotas for electricity produced from renewable sources which benefit from the green certificate’s promotion system. 2012 quota increases from 8.3% to 12% of the electricity production, escalating by 1%/year to reach 20% by 2020.
· Extending until 2017 (previously until 2015) the right to collect two green certificates per each MWh generated by wind farms (one certificate per MWh from 2018 onwards).
· Reaffirming the current green certificate’s floor and cap prices at €27/MWh and €55/MWh and increasing the penalty by non-compliance to €110 (from €70) for each missing green certificate. Current cap, floor and penalty prices are set in euros and indexed to euro-inflation.
EDP Renováveis currently has 228 MW of wund energy under construction (to be commissioned by 2010-year end) and 613 MW of projects in different stages of development.
The Romanian commitment regarding renewable energy improves the company’s investment visibility and enhances the projects’ value creation.