November 18 (SeeNews) - Swiss-based Stream Invest Holding is borrowing 10.5 million euro ($15.7 million) from Bulgaria's MKB Unionbank to finance part of the construction of a 12.6-megawatt wind farm in the Balkan country, the bank said on Wednesday.
60%-owned by Germany's Bayerische Landesbank, for part of the in north-eastern Bulgaria,
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Part of the loan comes from a credit line for boosting energy efficiency and production of electricity from renewable sources extended by the European Bank for Reconstruction and Development, MKB Unionbank said in a statement.
The wind farm, located in the northeastern Dobrich region will comprise six turbines of 2.1-megawatts each. Unionbank, 60%-owned by Germany's Bayerische Landesbank, is financing the construction of four of the turbines.
The construction of the remaining two should be financed with a loan from Sofia-based DSK Bank owned by Hungarian banking group OTP, a source closed to the project told SeeNews.
The six turbines will be supplied by the Indian manufacturer Suzlon Energy to Bulgarian-based Technomash Bulgarian Industrial Group that will implement the project.
The wind farm should be completed in early 2010, the statement said.
($=0.6694 euro)
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