New Wind Farm goes into Operations in Bulgaria

On December 9, 2010, the Swiss company Stream Invest Holding AG (SIH) and its subsidiary, the Bulgarian project company Energy Asset Management Holding EOOD (EAM) will inaugurate its first wind turbines in Bulgaria. The wind power plant named ‘Kardam’ has a total capacity of 12.6 MW, consists of 6 wind turbines, type Suzlon S88 with 2.1 MW output each, and was realized near Dobrich, BG during the last 12 months. For SIH, the Kardam wind farm is its first wind energy investment project in Bulgaria with a total value of over 23 million euros.

The wind power project was contracted to and successfully completed by Technomash-Bulgarian Industrial Group AD (Technomash). Wind energy expertise and services in the planning and project realization were provided by Energy Competence Centre GmbH (ECC), a subsidiary company of Corporate Energies in Berlin, Germany. Wind turbines were supplied by Suzlon Wind Energy A/S of Aarhus, Denmark.

“We are proud of our mutual success and the experience gained by all in completing this project. My thanks are with the team members of Technomash, EAM, Suzlon and ECC. This group of companies has the strength, experience and the will to realize further wind energy projects in Bulgaria in the next years to come”, says Andreas Blutke, President of the Board of Stream Invest Holding AG.

The Kardam wind energy project reflects a number of successes of the project team members: The Kardam project has been the only new wind park project in Bulgaria that was project financed and went into operations in recent time. For the team it is a step stone to bring more green energy to Bulgaria and adding to the country’s national target of a share of 16% renewable energy by 2020.

Stream Invest Holding AG (SIH), headquartered in Kerns, Switzerland was founded in 2004. SIH is an international Private Equity Investor in renewable energy, with a specific focus on wind energy. It currently holds investments in wind assets in Poland, Czech Republic, Bulgaria, Romania, France and Italy.