Germany's PNE Wind Teams up with Bulgaria's Windpark Dobrudzha on 150 MW Project
SOFIA (Bulgaria), June 2 (SeeNews) – German wind farm developer PNE Wind said it will considerably expand its activities in Bulgaria by setting up a 51/49 joint venture with local company Windpark Dobrudzha.
With the Windpark Dobrudzha OOD, the foundation of a joint venture was agreed, in which a Bulgarian wind farm project with a rated output totalling 150 megawatts (MW) is being included, PNE Wind said in a statement on Tuesday.
Under the joint venture agreement, PNE Wind will be in charge of the selection and purchase of wind turbines, the financing of the project, distribution and commercial and technical management in the operating stage of the wind farm, to be located in the windy northeastern Bulgarian region of Dobrudzha.
"With this additional collaboration, we are focussing on continuing our international expansion strategy. Our growing commitment in Bulgaria is another building block for this. We are ensuring that our future has a continually growing project portfolio," PNE Wind CEO, Martin Billhardt, said in the statement.
PNE Wind (www.pnewind.com), based in Cuxhaven, on the North Sea, develops and implements onshore and offshore wind farm projects. So far, the company has successfully completed 94 wind farms with a total nominal output of 782 MW.
Alongside its business activities in its home market, PNE Wind is also increasingly investing in dynamic growth markets and has subsidiaries and representations via joint ventures in Hungary, Bulgaria, Turkey, the UK, Romania, USA and Canada, the company said.
PNE Wind has been active in Bulgaria since 2007 and has developed several wind farm projects jointly with local partners.