US company GCD to invest EUR 350mn in Romanian wind farms.

By bne IntelliNews May 17, 2011
US-based Groupe Concorde Developments (GCD), owned by Ramoil Management, plans to invest EUR 350mn in two wind farms with a combined installed capacity of 165MW in the Romanian county Tulcea, Mediafax reported, quoting a company release. The group also plans to invest EUR 220mn in a 220-bed social assistance centre under a programme of the Romanian government, supported with EU funds. The first wind farm with an installed capacity of 46MW and an estimated cost of EUR 90mn, will be a greenfield investment. The second farm, with an installed power of 120MW, will be purchased from an unnamed Greek developer for around EUR 260mn. The produced electricity will be sold to Enel Romania.

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