With Eastern Europe enjoying a construction boom in the wind energy sector, smaller farms like a 10-MW project in the Romanian village of Baia are providing a model for future development in the country. Investors, developers, and operators continue to familiarize themselves with smaller-scale projects that involve less risk. With Romanian wind energy seeing a 400-MW increase in 2010, the country is on course to become a key player in the Eastern European market. Favourable installation conditions, whereby applications are processed quickly with low connection and administration costs, should ensure that Romania continues its growth in the sector.
Blue Investments Holding’s wind project in the Baia Village, in Eastern Romania, will consist of four Nordex 2.5-MW onshore turbines. GCube will support the project, which has an insured value of 20 million euros. “There is little doubt that the Eastern European markets continue to be the focus for wind energy expansion,” says Fraser McLachlan, chief executive officer of GCube. “The way in which these markets are developing, with smaller projects providing a lower risk model, will enable these countries to make a more consistent journey to their 2020 renewable energy commitments.”
Orlando Silianovici, managing director of Blue Planet Investments, says by working with GCube the company has been able to ensure that the Baia Village wind farm will act as a small-scale model for larger developments that will help Romania reach the large capacity projects found in Western Europe.
GCube Insurance Services www.gcube-insurance.com
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