Economic Development, Green Style

Romania is one of the poorest countries in Europe with crumbling Soviet-era infrastructure, a lack of exports and high unemployment among its citizens. Its government is trying to kill a lot of these birds with one stone as it has passed legislation which will provide some of the most generous subsidies for the development of wind projects anywhere on the globe.

Under the plan the legislation is meant to facilitate, Romania will generate 43% of its gross domestic electricity consumption from renewables by 2020, a goal which will add a seemingly reasonable 2-4% to the energy costs of local consumers according to estimates. Developers will be responsible for some of the costs of infrastructure improvement under the plan. There has also been some discussion of exporting energy if it proves to be cost-effective. For more on the '$12 Billion Wind Energy Drive,' visit Businessweek here.