Delia Bosman, Partner at Dragne & Asociatii and co-head of the Energy practice , was quoted in a Business Review article, “Green energy grapples with financing challenge.” Bosman said that “although the law governing the renewable energy, law no. 220/2008 for the promotion of the use of energy from renewable sources, has been in force since 2008, the support scheme provided by it, as approved by the European Commission, has applied since the end of October 2011, while the market is still waiting for the norms for its application to come into force”.
Bosman says banks are still reluctant about the support system, mainly because of the mechanism of taking over excess green certificates and adds that “on the Romanian market it is difficult to obtain long-term agreements for the sale of electricity and the green certificates. Such agreements are executed on the local market for a term of approximately two years, which is viewed by the banks as insufficient for medium- or long-term project financing”.
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