After an “assault” in agricultural field, Danes attack energy sector

Financiarul.ro (Bucarest) | 8 Iulie 2009

After having invested over 300 million euros for the acquisition of agricultural land alone, and another dozens of millions were invested in food industry now Danish investors see a new opportunity on Romania’s market, namely the development of renewable energy parks, Denmark’s Ambassador to Bucharest Ulrik Helweg-Larsen is quoted as saying by Ziarul financiar daily.

Approximately 20 percent of the internal electricity production in Romania must come from renewable energy till 2020, such as wind, sun or bio-gas.

To this end, Danish energy companies are extremely interested in starting some energy projects, well-known companies as Vestas being poised to enter Romania’s market this year.

At the same time, own Danish investments in the development of wind energy parks are not excluded.

“Danish energy companies are mainly interested in renewable resources and they have a vast experience in this sector.

I think that, in the footsteps of agricultural investments, the ones in energy will come next in the Danish investors’ preference top shortly”, appreciated Ambassador Helweg¬Larsen.

Danish Vestas Co., the largest wind turbine producer worldwide, is going to deliver this year approximately 143 turbines, with a production capacity of some 430 Megawatts (MW).

Given that the investment in one MW installed in Romania amounts to an average value ranging between 1.2 - 1.4 million euros, according to Ziarul financiar computation, the overall value will exceed 550 million euros.

Alongside the acquisition of farm land, Danish investors have also targeted the food sector, two of the most famous beer brands in the world, Tuborg and Carlsberg, being brought by them to Romania.

“Food industry represents another field the Danish investors are very interested in.

Apart the brewery close to Bucharest, pig breeders from Denmark are also present in Romania their farms numbering more than 100,000 pigs”, added Helweg-Larsen.

Danish investors are also targeting the industrial sector and consultancy services, two of the biggest profile companies being present on the local market, respectively Danfoss, producer of thermal equipment and systems and Ranboll, specialized in consultancy services.

As well, there are significant investments in the pharmaceutical sector, informatics and maritime transport.

Ambassador Helweg-Larsen said that the remainder of Danish investments in Romania, apart those in agriculture, attains more than 150 million euros.

For this year, Denmark’s Ambassador to Bucharest predicts 40 percent lower foreign investments in Romania, but in his opinion the economy has the potential of a quick recovery, especially through investments in infrastructure.

“The absence of infrastructure is Romania’s main problem. On the other hand, exactly this absence represents a huge potential for attracting foreign investments to this sector.

Unfortunately, so far, we do not have a Danish company interested in getting involved in transport infrastructure projects”, concluded Ambassador Helweg-Larsen.

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