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Bulgarian Fund Discloses Details of Wind, Mini-Hydro and Biomass Projects
September 16, 2008Source: New Energy Finance
CSIF, a Bulgarian fund chaired by prominent banker Tzvetelina
Borislavova, says it is planning to have 220MW of wind farms
operating at Kavarna near the Black Sea by 2012, compared to just
16.5MW now.
The organisation, whose initials stand for Clever Synergies
Investment Fund, has also fleshed out further details of its overall
renewable energy plans, encompassing mini-hydro and biomass as well
as wind.
CSIF's website says that it already owns five mini-hydro plants with
a combined capacity of 15MW. Four of these - Asenica I, Asenica II,
Rakita and Malusha - are operating, and the fifth, Stankova at 1MW,
is in the process of construction.
It also has a project aimed at producing biomass from 10,000
hectares of plantations, and two processing factories.
In wind, CSIF plans to have 60MW operating at Kavarna by 2012
through itts Sinik subsidiary, and a further 160MW through its Disib
offshoot.
Exact schedules for the capacity are not yet clear. A spokeswoman
for CSIF said that land purchase is part of the investment process
and depends on the particular circumstances on site.