Raiffeisen Capital & Investment - Company News Transelectrica - sued by wind park developer for EUR 118 mn, Feb 21, 2012

Wind park developer sues for EUR 118 mn

According to a company release, the wind park developer Eolica Dobrogea sued power grid operator Transelectrica (TEL) together with the regulatory authority (ANRE) and two TEL managers. Apparently Transelectrica rejected the request of Eolica to sign certain papers required to proceed with the connection of the wind park to the grid. The prejudice is estimated at EUR 118 mn/year. Transelectrica did not comment on the validity of Eolica request. The first hearing is scheduled for March 15. For the moment it is difficult to predict the outcome of the trial, but given the size of the potential prejudice we see the news as negative for Transelectrica.

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