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Corpad company invests about 9 million euro in two small hydropower plants totaling 2.5 MW, with a part of the investment financed by the grant program Rondine, told energynomics.ro, Costică Roman, director with the company.
“The total investment on Trotus River amounts to about 9 million euro, of which eligible expenses are 50% funded by Rondine grants”, says Roman.
Corpad receives about 3.345 million euro through Rondine. Programe signed in 2014 grants in hydro and geothermal worth nearly 11.67 million euro in Romania.
The two hydropower plants are being under construction and probably will be finished in a year time, says Roman. He explained that there are differences in the money disbursement procedure between the European funds and the funds of non-euro countries such as Norway, since in the latter case money can only be received after work completion. “Currently I am negotiating with the bank to get the initial capital,” he says.
The Rondine program was created via EEA Grants for renewable energy and is largely financed by Norway, the other members being Iceland and Lichtenstein. The Program aims at economic and social development in 16 receiving countries that will get about 1.8 billion euro on projects signed in between 2009 and 2014. So far, in Romania the program allocated about 65 million euro.
