PNE WIND AG agrees a further joint venture in Bulgaria

Cuxhaven, Germany - The wind farm developer PNE WIND AG is expanding its foreign activities in Bulgaria. With the Windpark Dobrudzha OOD, the foundation of a joint venture was agreed, in which a Bulgarian wind farm project with a rated output totalling 150 MW is being included.

PNE WIND AG, through PNE Ausland GmbH, will hold 51 percent of the shares in the joint venture company, with the Dobrudzha OOD wind farm holding the remaining 49 percent. The wind farm project is located in the very windy region of Dobrudzha in the north-east of Bulgaria. The project was developed by Storis Engeneering. Within the joint venture, PNE WIND AG will be responsible for the selection and purchase of wind turbines, the financing of the project, distribution and commercial and technical management in the operating stage of the wind farm.

Source: IWR Online, 02 Jun 2010