Parliament delays green certificate reduction to 2014

Newsroom 27/06/2012 | 10:02

The Chamber of Deputies of the Romanian Parliament voted on Tuesday the amendments of the emergency ordinance 88, which states that the 6 green certificates currently granted to solar energy will be cut starting January 1 2014, if overcompensation is found.

The law that approves the amendments of the emergency ordinance that modified the renewable energy law 220/2008 needs to be promulgated by the President of Romania and will be published in the Official Gazette shortly.

The energy regulator ANRE has been analyzing renewable projects over the past few months and should issue a report this June, stating if a certain technology yields 10 percent over the approved investment return rate (IRR) that is mentioned in the 220 law. The IRR of 11.6 percent on solar has already been exceeded and producers can now recover their investment in four years instead of seven.