Bulgaria - Spanish company to invest big in renewable energy

Spanish company “Electra Holding” has unveiled plans for investing about EUR 650 M in renewable energy in Bulgaria by 2012.

The company’s plan to enter the Bulgarian market has been presented in Sofia by its CEO Jose Oskar Leiva Mendez.

Electra Holding is going to focus on investments in wind and solar energy, energy production from biomass, and mini hydraulic energy.

So far Electra Holding has purchased three projects in Bulgaria – for the production of biodiesel and energy from biomass in Northern Bulgaria, and for wind power parks with a total capacity of 480 MW in Southern Bulgaria.

The planned investments of EUR 650 M in renewable energy production are going to lead to the creation of 700 jobs in the sector. Part of the funds will be raised through listing the company on the Spanish stock exchange.

Electra Holding already has operations in Spain, Romania, and Mexico, and is considering projects in Greece and Croatia.