Concorde Developments puts EUR 350 million in two wind projects in Romania

Newsroom 17/05/2011 | 15:52

Groupe Concorde Developments (GCS) announced it is putting EUR 350 million in two wind projects in Romania. The projects, which will be developed through Concorde’s parent Ramoil Management, are carried out in cooperation with the Romanian government and the European Union.

The first project contracted by Concorde has a 45 MW/h capacity and is located in Tulcea. The project has a value of EUR 90 million and GCS will own 100 percent of it.

At the same time, GCD is currently negotiating with a group from Greece to purchase their wind project of 120 MW/h in the same area of the country. Enel S.A. will be signing the off take contract or power purchase agreement upon completion of this negotiation. GCD will own 100 percent of this project, adding an additional net asset value of EUR 260 Million

Besides the wind projects, GCD is planning to build a chain of nursing homes and assisted living facilities under a contract value of EUR 220 million.

Groupe Concorde Developments Inc., of Fort Lauderdale, FL, has been in operation here in America since 2007 and in Europe as Concorde Groupe, GmbH since 2005. GCD has solar energy, wind energy and waste to energy projects in Romania and Bulgaria.

Ramoil Management, soon to be EnviroTech Capital, is a development stage capital company, focusing on green energy projects, asset management and other niche technologies temporarily headquartered in Long Beach, California.