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German firm plans 240MW wind farms in Bulgar

  Germany’s N-Vision Energy plans to invest up to €300 million ($400.4 million) to build two wind energy parks in Bulgaria, its managing director said on Friday.

The new wind farms, with a planned total capacity of up to 241 megawatts (MW), will be set up in southern Bulgaria and are expected to become operational by 2011, Sebastian Noethlichs, managing director of N-Vision Energy, said. Up to 75% of the project will be debt-financed and the remaining amount will be raised from investors, Noethlichs also said.

Wind park projects in Bulgaria have recently mushroomed as investors take advantage of government subsidies for renewable energy, aimed at boosting its share to meet European Union targets. (Reuters)