Bloomberg News

Romania’s Transelectrica Sued Over Wind-Park Grid Connection

February 22, 2012

(Updates with comments from company shareholder from second paragraph.)

Feb. 21 (Bloomberg) -- Romania’s Eolica Dobrogea SRL sued the country’s energy regulator, ANRE, and power-grid operator Transelectrica SA, for refusing to connect a wind park to the national grid, Transelectrica said.

Eolica, which is building wind parks in Romania for Spain’s Iberdrola Renovables SA, is claiming damages of 118 million euros ($157 million) a year from the grid operator for not connecting the company’s Cogealac park to the national power grid, according to a statement to the Bucharest Stock Exchange yesterday. The trial is scheduled to start on March 16.

Eolica’s shareholder and board member Christoph Kapp said the legal action against Romanian authorities was taken by the company’s administrator “in his own discretion and intention” while the company initiated the procedures to replace him, according to an e-mailed statement today.

“Once the new management will be in place, one of the first actions will be the immediate withdraw the legal actions, litigations and court files,” Kapp said in the statement. “We will do our utmost to rectify the unprofessional and completely contra-productive steps taken by the actual management in the shortest period of time possible.”

Iberdrola “is not involved in any way in the legal actions taken by Eolica,” Adrian Goicea, the company’s country manager, said in a phone interview today.

When contacted by Swiss Capital SA, a local brokerage, Transelectrica’s juridical department said it is not concerned over the further development of the litigation as the company’s refusal to connect the wind park to the national grid has legal grounds, the brokerage said in a note to clients today.

ANRE didn’t respond to calls seeking additional comment.

--Editors: Zoe Schneeweiss, Tim Farrand

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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