Electra to Build Wind Farm in Bulgaria

Electra started activities in Bulgaria about six months ago. At the end of 2009, it said it had earmarked a total EUR 650 M for the acquisition and development of renewable energy projects in the country.

The wind power investment is to be made over the next four years. Electra operates wind farms with a total capacity of 480 MW in southern Bulgaria, two units for electricity production from biomass with a total capacity of 19 MW and a factory for biofuel with a capacity of 30,000 tons per year.

Spanish company Electra Holding has unveiled plans for investing about EUR 650 M in renewable energy in Bulgaria by 2012. The company’s plan to enter the Bulgarian market has been presented in Sofia by its CEO Jose Oskar Leiva Mendez.

Bulgaria is set to dramatically expand its wind power output in the next 10 years, from the current 330 MW installed to over 3,000 MW by 2020 and wind energy will meet 13.5% of Bulgaria’s electricity demand.