CEZ To Invest 400 Mln Euro in Romania in 2012 – Media

Czech utility CEZ plans to invest 400 million euro ($504 million) in power generation projects in Romanian this year, Bucharest-based media reported on Thursday.

The investments are earmarked for acquisitions in the power sector, mainly in renewable energy, financial daily Ziarul Financiar quoted CEZ Romania corporate affairs director Adrian Borotea as telling a conference in Bucharest.

CEZ injected 2.0 billion euro in Romania so far, with 1.1 billion euro of them invested in wind parks, Borotea said at the conference organized by Ziarul Financiar (www.zf.ro).

In Romania CEZ operates two wind parks, Fantanele and Cogealac, and a small hydropower plant near Resita, in the country's west.

The company plans to complete this year the Fantanele and Cogealac wind farms, in southeastern Romania. The farms will have a combined installed capacity of 600 megawatts (MW).

CEZ said last month it plans to produce 1.1 terrawatt hours of electricity from renewable resources in Romania this year, up from 600 TWh in 2011.

($=0.7938 euro)

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