“The long-term strategy of the company includes a round of investments in Romanian market in renewable energy and natural gas storage facilities. We are considering building a Greenfield wind energy park with a power between 20 and 50MW, for which we are analyzing four possible locations. We have negotiated in the past, but the price didn’t meet our requirements. Within two years, we will start the construction works”, said Petre Stroe.

He added it was too early to estimate the total costs of the project, as a year earlier the installation of a MW wind energy was 1.7 million euros, and now it dropped to one million euros.

EGL Romania’s managing director said the company’s plans also included a joint investment in a brownfield thermal power plant of 80 MW.

EGL Romania is currently in talks with the national natural gas provider, Romgaz for the construction of an underground natural gas storage facility, with 300 million cm, by building a new one or by boosting the capacity of an existent facility.

EGL Group holds equity positions in four Italian-based natural gas power plants with a total power of 3,200 MW. EGL is also running a major investment program in Norway, in a 400MW-wind energy park, which will be gradually implemented by 2012. In Spain, EGL group is developing a biomass-based renewable energy project for which the permits are pending for release.