September 19 (Renewables Now) – Dobrotich Wind, a subsidiary of Australian renewables developer CWP Global, plans to invest BGN1.2bn (US$612.2m/€613.5m) in the construction of an onshore Invest in wind farms with 74 turbines in north-eastern Bulgaria.
Equipped with turbines with a planned capacity of up to 8 MW each, the wind farm to be built in the Varna region will be able to generate enough electricity to meet the needs of 440,000 households, Dobrotich Wind said in a press release on Monday.
Up to 50 turbines will be installed in six villages in the municipality of Valchi Dol and another 24 in five villages in the municipality of Vetrino.
Dobrotich Wind will not use any EU grants, government investment or discounted electricity purchase prices to finance the project, the company added.
“The area was chosen for its combination of very good wind potential, low environmental risk and the availability of suitable power transmission infrastructure. The project will be implemented with the latest wind generators using the latest and most advanced technologies,” Dobrotich Wind said in the statement.
The investor is willing to provide around 14,000 local residents with long-term electricity support, which would cover the total consumption of 1,200 KWh per year for a period of 35 years from the wind farm’s commissioning.
“In addition, we have taken into account a possible future indexation of electricity prices for household customers and are ready to take on up to BGN 500 per year for household electricity bills in case of price increases,” Biliana Petrova, managing director of Dobrotich Wind said in the statement.
CWP Global has been working on large-scale green energy projects in Central and Eastern Europe (CEE) since 2010 and currently has a 3,000 MW renewable energy pipeline in Bulgaria, Serbia and Romania.
According to Electricity System Operator (ESO), Bulgaria had 701 MW of installed wind capacity at the end of 2021. The country’s largest wind farm is the 156 MW St Nikola Wind Farm, located near the north-eastern town of Kavarna.
The national plan for the expansion of the electricity grid 2022-2031 envisages the use of 4,858 MW of renewable energy, of which 343 MW from wind energy.
However, in the spring, the Bulgarian Wind Energy Association called for the forecast wind capacity for 2026-2031 to be increased to 4,500 MW to better reflect alleged investment proposals and strong potential investor interest.
CWP and commodities group Mercuria Energy Trading joined forces last year for the CWP Europe joint venture, signaling a potential investment of over BGN 1 billion in renewable energy projects in Bulgaria.
(1 BGN = 0.510 USD/0.511 EUR)
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