about us | newsletter | contact | archive | members area
Andreea Paun, Griffes
In 2018, we will be delivering Unirii View»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Energy producers sue Romania at ICSID Washington for reducing subvention scheme in renewable energy

Energy producers from Austria, Germany, the Netherlands, Romania and Cyprus filled a request for arbitration proceedings against the Romanian government at World Bank's International Centre for Settlement of Investment Disputes (ICSID) in Washington, claiming investment losses from Romania's decision to reduce the subvention scheme in renewable energy.

2018-06-14 11:33:37

The "request for the institution of arbitration proceedings" against Romania's Ministry of Energy was officially registered at ICSID on June 12, 2018.

The ten claimants are: LSG Building Solutions GmbH (Austria), Pressburg UK GmbH (Germany), Green Source Consulting GmbH (Austria), Solluce Romania 1 B.V. (the Netherlands), Risen Energy Solar Project GmbH (Germany), Core Value Investments GmbH & Co KG Gamma (Germany), Core Value Capital GmbH (Austria), SC LJG Green Source Energy Beta SRL (Romania), Anina Pro Invest Ltd (Cyprus) and Giust Ltd (Cyprus), which invested in photovoltaic energy in Romania, according to ICSID.

Since 2013, the Romanian government cut the subsidies granted to renewable energy producers in the form of green certificates added to the electricity bills of all Romanian electricity consumers to control the final price paid by customers.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  309 Views
Daily Info
Believe in people's potential

"The greatest danger for most of us is not that our aim is too high, and we miss it, but that it is too low, and we reach it." (Michelangelo Buonarroti) This is my motto that ...

Veeam estimates record growth, one billion USD turnover in 2018

Veeam Software posts another quarterly growth, 21 per cent higher than last year. Overall, the financial performance for 2017 was remarkable, with revenues of 827 million USD....

TransferGo attracts 8.6 million Euro financing for international expansion

TransferGo, the international fast online transfer company, has attracted a round of investment of 8.6 million Euro, which is the biggest amount received in a single financing...

Bucharest Henri Coanda Airport could get a new terminal

A new passenger terminal could be added to Bucharest's Henri Coanda International Airport (Otopeni), as part of an ample development project estimated at over one billion Euro...

New Kopel Car to import BYD electric vehicles in Romania

New Kopel Car Import, a SIXT Group Romania company, announced that it became the importer of BYD Electric busses and vehicles in Romania.

 
 
   
advertising

advertising

advertising

advertising

advertising

More on News
ING Bank Romania to accelerate business development through digitization

Customers are increasingly interacting with the bank through its digital platforms and are making more card payments, according to a report issued by ING Bank Romania.

4 Comments

TransferGo: We will come to a point where money transfers will be dominated by app usage

Cash will become obsolete and this will be the result of digital finance advancement, Marius Nedelcu, Country Manager at TransferGo told The Diplomat-Bucharest.

1 Comment

Great potential comes with big challenges

The residential market in Romania registered new record investments in 2017, one of its best years so far - and analysts said the trend will continue for sure this year.

2 Comments

Globalworth: The number of green accredited buildings continues to grow every year

Romania today is one of the few economies in Europe that had a consistent expansion over the past six years, outpacing EU average growth, Dimitris Raptis, deputy CEO and Ch...

3 Comments

UniCredit announces updates in the Mobile Banking application

UniCredit Bank launches new facilities in the up-to-date version of its Mobile Banking application to provide customers with a simpler and faster user experience.

3 Comments

ESOP: We expect that the green building trend further grows

The Romanian market is one of the most dynamic in the region due to the accelerated development in IT&C, BPO, shared services industries, and to the expansion of research &...

Immofinanz: Constant, visible shift towards energy efficiency on the local office sector

Romania's strong economic growth in 2017 placed the country in a leading position in the CEE region and the trend is expected be sustainable over the next years, Christian ...

2 Comments