Germany's IWC To Build 225 Mln Euro Wind Park in Bulgaria
SOFIA (Bulgaria), April 29 (SeeNews) – Germany's Innovative Wind Concepts (IWC) will build a 440 milion lev ($298 million/225 million euro) wind farm in northeastern Bulgaria, the energy ministry in Sofia said on Thursday.
IWC is a developer of renewable energy projects set up as a joint venture of German companies Siemens Project Ventures and Windkraft Nord.
The 140 megawatt project will be developed through IWC’s Bulgarian subsidiary, IWC Bulgaria WP5, and will be financed from the company's own funds and bank loans, the energy ministry said in a statement.
The company has already bought a plot of land near the northeastern city of Dobrich for the project.
The wind farm will have 59 generators, which are expected to produce some 350,000 megawatthours (MWh) per year.
The project, expected to completed in 2013, will create 16 jobs.