Bulgaria
Novenergia Bulgaria is implanted in Sofia since 2007 and has established a strong
relationship with local partners with whom it is developing more than 250 MW worth
of wind farms as well as a 10 MW PV plant. Construction of the first project should
begin before the end of 2011.
Novenergia Bulgaria works to capture a part of the high potential for renewable
energy development in a country where penetration of large players is limited.
The potential for renewable energy comes both from the current and future power
shortage in the Balkans due to strong economic growth in the region, from the lack
of generation capacity inherited from the aftermath of the USSR and from EU obligations
for renewable energy. Combined, these forces make the region attractive for nimble
energy companies such as ours.
Bulgaria's situation is in many ways comparable to other Eastern countries that
recently became members of the European Union. These countries have to make a special
effort in order to achieve EU objectives regarding renewable energy: in 2020, renewable
energy sources will have to account for 16% of the gross power consumption in Bulgaria.
Bulgaria enjoys abundant wind and hydro resources. Given that the large-scale hydro
is almost fully exploited and that there is little space left for development of
small hydro, the country's objectives will be mainly reached by the development
of a wind energy potential estimated at around 3400 MW, and on a smaller scale by
exploiting solar energy.