Suzlon enters JV with Volkswind to develop wind energy in Bulgaria

Suzlon Wind Energy A/S – the European division of Suzlon Energy Limited, the world’s third leading wind turbines maker – has entered into a joint venture with Volkswind Bulgaria GmbH through the company DIV Wind OO.

Volkswind Bulgaria is a subsidiary of Germany’s Volkswind GmbH, one of the leading Independent Power Producers (IPPs) in Europe, and with over 40 wind farms it is also one of the largest operators of wind farms in Germany.

The joint venture is aimed to accelerate Suzlon’s growth into the Bulgarian wind power market combining Volkswind’s local knowledge and development experience with Suzlon’s expertise in developing utility wind farm projects.

The joint venture will develop projects exclusively using Suzlon wind turbines. Speaking on the project, Mr. Erik Winther Pedersen, CEO – Suzlon Wind Energy A/S said, “This marks the beginning of a long-term partnership with Volkswind Bulgaria GmbH, and is a very important step in our strategy to expand our project development activities into new regions. Suzlon already has a 13 MW wind farm under construction in Bulgaria for a leading industrial client, and I believe that our new relationship with Volkswind will help us grow Bulgaria’s wind industry even further.”

Dr. Malte Huchzermeier, Director – Volkswind Bulgaria GmbH, said, “Suzlon’s existing infrastructure and experience from already erected turbines in Bulgaria will be beneficial for the development process. We are looking forward to building successful projects with Suzlon.”

Bulgaria offers one of the most attractive wind markets in Eastern Europe, and is expected to achieve 500 MW of wind energy capacity by the end of 2010, with a target of more than 3,000 MW by 2020.

The market is supported by competitive feed-in tariffs of approximately 0.096 EUR for the first 2250 hours/year and 0.088 EUR KW/h for the following hours –guaranteed for 15 years.

Suzlon ranked as the world’s third leading wind turbine supplier in terms of market share in 2009. Suzlon has its corporate offices in Pune, India and company’s global spread reflects in its projects and markets portfolio – extending across Asia, Australia, Europe and North and South America. Suzlon is a highly vertically integrated wind turbine manufacturer with manufacturing capability along the full value chain – from components to complete wind turbine systems.