Siemens to build wind farm in Bulgaria
BULGARIA - A joint venture of German electrical and engineering group Siemens will invest 440 million levs US $297.7 million to build a 140 megawatt wind power farm in Bulgaria, the energy ministry said.
Innovative Wind Concepts, a joint venture between Siemens financial arm SPV and German wind park operator Windkraft Nord, will install 59 wind turbines in northeastern Bulgaria, near the Black Sea coast by the beginning of 2013.
The annual power production from the park is estimated at 350,000 MWh, the ministry said.
Wind park projects in Bulgaria have mushroomed over the past several years as investors took advantage of general incentives schemes for power produced from renewable energy sources.
The investor bonanza forced the Balkan country to tighten rules for new plants and proposed a ban to build solar and wind energy farms on arable land over fears that the renewable energy boom can cause grid instability and increase energy prices.
Related News
Poland’s largest power group opts to back wind over nuclear
WARSAW - PGE, Poland’s biggest power group has decided to abandon a role in building the country’s first nuclear power plant and will instead focus investment on offshore wind energy.
Reuters reports state-run refiner PKN Orlen (PKN.WA) could take on PGE’s role, while the latter announces a $10bn offshore wind power project.
Both moves into renewables and nuclear represent a major change in Polish energy policy, diversifying away from the country’s traditional coal-fired power base, in a bid to fill an electricity shortfall and meet EU emission standards.
An unnamed source told the news agency, PGE could not fund both projects and cheap…
