Alro Slatina pays USD 70 million for green certificate and co-generation

Alro Slatina has to pay this year 70 million US dollars in co-generation and green certificate fees, an amount that could be used to make two industrial companies, Chairman of the Administration Board of Alro Slatina aluminium maker Marian Nastase recently told Agerpres.

“This is a burdening fee because we have to pay this year 23 million US dollars in cogeneration fees, plus 47 million US dollars in green certificate fees before the approval of the emergency ordinance concerning the establishment of a system for the promotion of energy from renewable sources. This makes 70 million US dollars, a huge amount that could be used to create two industrial factories,” said Nastase.

He added that without the two fees, Alro would have no trouble.

“We do not have the money to pay. Since we do not have the money, I do not know exactly what will happen, but I presume the National Energy Regulatory Authority (ABRE) or other state institution will show up to close down the company. Since we do not have the money to pay, Alro will probably enter insolvency procedures or go broke. Without this subsidy of the green certificate and a cogeneration fee, Alro would have no troubles,” said Nastase.

He added that the Alro works is a significant tax payer, with money paid in taxes to the national budget having neared 800 million US dollars.

Alro SA is the biggest aluminium maker in Central and Eastern Europe, except Russia.

The company is part of the international industrial and investment group Vimetco N.V. operating in the aluminium industry. Shares in Alro are traded on the Bucharest Stock Exchange (VBV).

The aluminium making facilities are located in Slatina, comprising an electrolytic section, processing units, a foundry, hot and cold mills and an extrusion section. It is also the owner of the alum factory Alum SA of Tulcea.