N-Vision to build wind farm in Bulgaria
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
Australia's energy transition stalled by stubbornly high demand
MELBOURNE - A more than 200% increase in installed solar power generation capacity since 2018 helped Australia rank sixth globally in terms of solar capacity last year and emerge as one of the world's fastest-growing major renewable energy producers.
However, to realise its goal of becoming a net-zero carbon emitter by 2050, Australia must reverse the trajectory of its energy use, which remains on a rising path in contrast with several peers that have curbed energy use in recent years.
Australia's total electricity consumption has grown nearly 8% over the past decade, compared with contractions over the same period of more than…
