ECONOMY

Energy contract deadlines get an extension

The Development Ministry decided yesterday to extend until this coming fall the deadlines for the signing of contracts relating to projects for energy investments included in the «Competitiveness» operational program. The ministry also decided to lessen the red tape involved with the signing of the contracts, in order to make things easier for investors. In the case of projects involving renewable energy sources in areas with saturated networks, the deadline is extended until November 30, 2007. For all other energy co-production categories, the relevant deadlines have been extended until September 21. Contracts for the supply of energy equipment and products can now be signed until September 14, instead of June 30. Photovoltaic system contracts can also be signed up to November 30, whilst other innovative technological projects have had their deadline stretched to September 21. A large number of investment proposals have already been approved under the Competitiveness program, but the ministry wants to increase their number further.