International financial institutions (IFIs) like the World Bank, International Finance Corp. (IFC), European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the International Bank for Reconstruction and Development (IBRD) could participate with capital contribution on equity component in the hydro-pumping project from Tarniţa, told energynomics.ro Ovidiu Demetrescu, general manager of the HidroTraniţa project.
“There is interest from international financial institutions, they always relate to large projects, a key point is to understand the financial arrangement and state involvement in the project”, says Demetrescu, explaining that equity participation type is a maximum of 30-40% of a project at this level.
Also, the final analysis of the pre-qualification tender could be completed in May. “We are still undergoing with the pre-qualification tender for investors … there are five consortia, probably this stage will be completed in May”, said Demetrescu.
He noted that Tarniţa project is essential to ensure the balance of the national energy system and is not depending of Cernavodă nuclear project 3 and 4.
“Major imbalances in the system are given by green sources today. California has instituted a law that says that for every 6 MW of renewable there is need for 1 MW of storage. Germany develops storage projects in countries with favorable relief: Austria, Switzerland and Norway”, said Demetrescu.