site.btaWorld Leaders in Green Energy Ready to Invest Over Lv 1 Bln in Renewable Energy Projects in Bulgaria

Sofia, October 19 (BTA) - CWP Europe, a newly created joint venture of leading renewable energy developer CWP and global energy and commodity group Mercuria Energy Trading, is ready to invest over 1 billion leva in renewable energy projects in Bulgaria, CWP Europe said in a press relase.

CWP Europe is already working on the development of 2 gigawatts (GW) of renewable energy capacities in Southeastern Europe within a 1.9 billion euro investment plan, with the goal to considerably expand its plan in the coming years. This way, the organization will contribute to the provision of low-cost renewable energy and accelerate the green transition in four countries in the region, namely Bulgaria, Serbia, Romania and Ukraine, the press release notes.

CWP is already working on a portfolio of wind power projects in Bulgaria with a total capacity of 669 MWh and a few opportunities for solar power plants. Two large projects in the northeastern part of the country have reached an advanced stage of development and their construction is expected to begin in two years.

The scope of CWP Europe's investments in Bulgaria will depend on the possibility to expand a portfolio with suitable wind and solar power projects, together with energy storage systems. Special attention will be paid to hybrid wind-solar projects, still a novelty for Southeastern Europe.

CWP Europe is convinced that the development of renewable energy in the region will facilitate long-term stability of the price of electricity, thus protecting the region's economic competitiveness.

DT/YV/