March 7 (Bloomberg) -- Enel Green Power SpA’s spending on Romanian wind farms rose more than fourfold to 330 million euros ($434 million) last year as the country seeks to increase production of electricity from renewable sources.
The company, Italy’s largest renewable-energy company and a unit of Enel SpA, began operating 205 megawatts of Romanian wind farms in 2011, the most of any European country, it said. Enel commissioned 91 megawatts in Italy and 64 megawatts in France, it said. The company spent 75 million euros in Romania in 2010.
Enel Green Power and companies such as CEZ AS and Iberdrola SA are investing in Romania because of government incentives for renewable energy. The nation approved a plan to spur investment by granting tradable green certificates for each megawatt-hour of renewable energy produced. Wind gets two per megawatt-hour.
Enel Green Power, based in Rome, spent 36 million euros to build wind farms in Greece last year and 56 million euros in France, up from 40 million euros a year earlier, according to a 2011 results statement yesterday. The company started operating the Corugea and Moldova Noua wind parks in Romania in December.
Romania is seeking to increase wind power capacity to 1,400 megawatts by the end of the year from the current 800 megawatts, Environment Minister Laszlo Borbely said in February.
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