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

Taiwan's economic minister resigns over widespread power outage
TAIPEI - Taiwan's economic minister resigned after power was knocked out in many parts of Taiwan, including capital Taipei's business and high-end shopping district, due to an apparent "human error" at a key power plant.
Economic Affairs minister Lee Chih-kung tendered his resignation verbally to Premier Lin Chuan, United Daily News reported, citing a Cabinet spokesman. Lin accepted the resignation, the spokesman said according to the daily.
As many as 6.68 million households and commercial units saw their power supply cut or disrupted on Tuesday after "human error" disrupted natural gas supply at a power plant in northern Taiwan's Taoyuan, the semi-official Central News Agency reported, citing the government-controlled…