Major tax facilities for the developer of Tarnita-Lapustesti project

The Department for Energy has issued a draft ordinance which established important tax facilities for the investor that will engage in the project regarding the 1000 MW pumped-storage hydropower station at Tarnita-Lapustesti, the Cluj County.  According to the bill, the company that will operate the power station which requires investment of over 1 billion euro will benefit from major advantages such as exemption from paying the cogeneration tax, the transport fees, the tax on the water used and will not be charged the green certificates.

In addition to these grants, as the project is classified as a national strategic objective, the company that will run the investment will be exempted from paying the taxes associated with the withdrawal of the land needed from the agricultural and forest use.

The project started during the Communism period will be eventually launched, as the first phase of selecting the investors that will join the Hunedoara Energy Complex, Nuclearelectrica, the Oltenia Energy Complex and the Society for the Management of Energy Assets, entities financially supporting the power station, has already been initiated.  The list of pre-qualified investors will be made public in mid-November, 2014, HidroTarnita, the company in charge with the project, announcing that several potential investors have shown interest in this project and have acquired or are planning to acquire the related documentation which costs 12,000 euro.

Once construction works will begin, there will be created about 4,000 jobs during the five to seven years, the period estimated for the project to be fully completed.