Norwegian energy company Statkraft, which was looking for investment opportunities in Romania, has decided to pursue its investment plans elsewhere due to the unfavorable investment climate in Romania. Statkraft has chosen Albania and Turkey for its up to EUR 1.3 billion investment projects, according to Mediafax quoting local company representatives.

Statkraft, which opened an office in Romania in 2007, was looking to build a large hydro power plant and gas fueled thermal power plan in South Eastern Europe and Romania was one of its options.

Statkraft posted around EUR 3 billion in gross operating revenues last year.