September 29 (SeeNews) - A consortium between Greek technology company Alpha Grissin and Spanish wind park developer Preneal will build a 155 million euro ($225.6 million) wind farm in Bulgaria, the Greek company said.
The consortium, in which Preneal holds 60% and the Greek partner owns the remainder, was awarded last week a 30-year concession on a total area of 842.4 hectares in Karnobat, in southeast Bulgaria, Alpha Grissin said in a statement on its website.
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The wind farm will have a total capacity of 111 megawatts (MW). "The Consortium is already in process of receiving all necessary licenses, expected to be issued within 2009," the statement said, giving no timeframe for the completion of the project.
Alpha Grissin, which is developing wind farm projects in Greece, said back in October 2007 it would form a 20/80 joint venture with Deutsche Bank that would build wind farms and solar parks in Greece and Bulgaria.
Preneal (www.preneal.es), set up in 1996, is already operating 13 wind parks with a combined capacity of 330 MW and is taking part in the development of projects with a capacity of 2,590 MW in Spain and globally. Deutsche Bank is a shareholder in the company.
In Bulgaria, Alpha Grissin (www.alphagrissin.gr) is also active in the real estate sector.
Bulgaria must cover 11% of its gross domestic energy consumption with power from renewable energy sources by 2010 and should increase that share to 16% by 2020, compared to about one percent in 2005, in order to comply with European Union directives. The country joined the bloc in 2007.
($=0.6869 euro)