December 21 (SeeNews) - Spanish-owned Elektra Holding, a newcomer on the Bulgarian market, said it plans to invest 650 million euro ($932.5 million) in renewable energy projects in Bulgaria by 2012 and aims to become a market leader by the end of 2010.
The company, which has recently launched commercial operations, plans to develop wind farms, solar parks, biomass plants and small hydroelectric units in Bulgaria, Elektra Holding CEO Jose Oskar Leiva Mendez said in a statement made available to SeeNews on Monday.
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It plans to open 700 jobs in the country by 2012.
The company is currently taking part in wind farm projects with a combined capacity of 480 megawatss (MW) in southern Bulgaria and two biomass projects - one of 9.0 MW in northern Bulgaria and the other, of 10 MW, in the central part of the country. It also participates in a biofuel project with an annual capacity of 30,000 tonnes.
Elektra Holding (www.elektraholding.com) was registered in Bulgaria in October. Its core business is development, construction and operation of renewable energy units and the sale of the generated power.
The company has projects in Spain, Romania and Mexico and is in talks for the launch of projects in Greece and Croatia, Mendez said.