N-Vision to build wind farm in Bulgaria
SOFIA, BULGARIA - Germany's privately held N-Vision Energy plans to invest up to 140 million euros (US$210.5 million) to build a 100 megawatt wind energy park in Bulgaria, its managing director said.
The new wind farm will be built near the town of Kyustendil, some 68 km south of capital of Sofia, and is expected to become operational by the end of 2011, Sebastian Noethlichs, managing director of N-Vision Energy, said.
Up to 75 percent of the park will be debt-financed, Noethlichs said, adding the European Bank for Reconstruction and Development and export credit agencies are expected to take part in the funding of the project.
Wind park projects in Bulgaria have mushroomed over the last couple of years as investors take advantage of incentives such as preferential prices which Sofia offers for power produced from renewable energy sources.
The Balkan country plans to increase the share of renewable energy to 16 percent by 2020 as part of European Union efforts to combat climate change.
The new project will be the second largest in Bulgaria after the 156 MW park built by AES Corp. near the town of Kavarna on the northern Black Sea coast, which was officially connected to the national grid earlier this month.
Related News
$1 billion per year is being spent to support climate change denial
PARIS - Orson Johnson says there is no scientific consensus on climate change. He’s wrong. A 2015 study by Drexel University’s Robert Brulle found that nearly $1 billion per year is being spent to support climate change denial. Electric utilities, fossil fuel and transportation sectors outspent environmental and renewable energy sectors by more than 10-to-1. It is virtually the same strategy that tobacco companies used to deny the dangers of tobacco smoke, spending hundreds of millions of dollars to delay recognition of harm from tobacco smoke for decades. These are the same debunked sources Johnson quotes in his commentary.
The authors…
