Bulgaria
Wind Energy in Bulgaria
As Bulgaria is a member of the EU, but is not included in the euro zone, project financing in economically difficult times poses a special challenge. Banks ask for a high premium to offset the currency risk, which lowers the profitability of planned projects.
As soon as the environment improves, a dynamic wind energy market is expected to develop in Bulgaria. The feed-in tariffs modelled after the German concept are very attractive and allow a profitable plant operation. In 2009, the financial crisis caused a serious slow-down in this Eastern European country. Instead of the expected increase in installed capacity of 270 megawatts, only 57 were achieved. 198 megawatts were installed in 2010 so that the total installed wind power capacity at the end of that amounted to 350 megawatts.
It is expected that many more wind farms will be built in Bulgaria in the next few years. This is also reflected in the fact that many developers have rushed in. The European Wind Energy Association expects that at least 3,000 megawatts will be installed by 2020. To reach this goal, which corresponds to the environmental standards of the European Union, an average increase in installed capacity of a good 250 megawatts per year is required and expected.
ABO Wind Bulgaria Eood
Since 2008, ABO Wind has been working with local partners who have a good relationship with land owners and permit authorities. In the first two years, ABO Wind already secured six projects with more than 100 megawatts in advanced planning states and which have the potential to be ready to build in the near future.
A well-filled project pipeline and established contacts ensure that the Sofia-based subsidiary, ABO Wind Bulgaria LLC/EOOD, will profit from the imminent dynamic development of the wind market in Eastern Europe.
In 2011, ABO Wind’s first smaller 4 MW project with two wind power plants (2 megawatts each) has reached construction readiness. Commissioning is planned for 2012. “With this small project we gain important experience which will be useful to us when developing further wind parks in Bulgaria”, explains Matthias Bockholt, member of the managing board.
