Romanian wind energy association sees cost of new property tax at nearly EUR 40mn per year

By bne IntelliNews November 28, 2013

Romanian wind farms, which are expected to reach an installed capacity of 2.5GW by end-2013, will have to pay some EUR 37.5mn or even above EUR 40mn next year following the levy of a supplementary property tax for special industrial assets, the investors’ association RWEA estimates.

The supplementary tax, of 1.5% of the property value, would be of some EUR 40,000 per turbine, according to RWEA experts. Under a first estimate, there are 1,100 turbines installed with an average installed capacity of 2.3MW.

Overall, the taxes paid in 2014 by operators of wind farms commissioned by the end of this year would exceed EUR 4bn. Under a different approach, the investments in wind farms are estimated at EUR 4bn, of which EUR 2.5bn in turbines and poles.

The 1.5% tax on the EUR 2.5bn properties would contribute another EUR 37.5mn.

Related Articles

Turkey and Israel aim to ink natural gas pipeline deal by end-2017

Turkey’s Energy Minister Berat Albayrak, son-in-law of President Recep Tayyip Erdogan, is set to visit Israel by the end of this year to conclude an agreement to construct a natural gas pipeline ... more

Polish utility Tauron places €500mn eurobond issue

State-controlled Polish power firm Tauron has sold €500mn worth of eurobonds, the company said on July 5. Tauron needs capital to refinance the costs of construction and the purchasing of a ... more

Hungary signs deal to link to Russia's Turkish Stream gas pipeline

Budapest has signed a deal with Russia's Gazprom to link Hungary with the under-construction Turkish Stream ... more