Siemens to build wind farm in Bulgaria
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

New Mexico Could Reap $30 Billion Driving on Electricity
PHOENIX - What would happen if New Mexicans ditched gasoline and started to drive on cleaner, cheaper electricity? A new report from MJ Bradley & Associates, commissioned by NRDC and Southwest Energy Efficiency Project, answers that question, demonstrating that New Mexico could realize $30 billion in avoided expenditures on gasoline and maintenance, reduced utility bills, and environmental benefits by 2050. The state is currently considering legislation to jump-start that transition by providing consumers incentives to support electric vehicle (EV) purchases and the installation of charging stations, a policy that would require a few million dollars in lost tax revenue. The…