Leitwind sells stake in Bulgarian wind farms to Italgen

BULGARIA: Italgen, the energy generation arm of Italian cement giant Italcementi, has acquired a 49% stake in Gardawind, the owner of two Bulgarian wind farms with total capacity of 18 MW.

by Heather O’Brian 25 May 2010

BULGARIA: Italgen, the energy generation arm of Italian cement giant Italcementi, has acquired a 49% stake in Gardawind, the owner of two Bulgarian wind farms with total capacity of 18 MW

The stake was acquired for an undisclosed sum from Leitwind, the Italian turbine manufacturer whose direct-drive turbines are used on the facilities. Leitwind will retain the remaining 51% stake in Gardawind.

The wind farms are 9MW each and are located in the Kavarna region of Bulgaria. The first of the two wind farms has been operational since September while the second facility should come on line later this year.  

Bulgaria currently has cumulative installed wind capacity of about 354 MW, but that figure is expected to soar over the next decade.

Italgen is also developing its wind business elsewhere.  

The company has a license for the construction of 142.5 MW wind farm in Balikesir, Turkey and should also construct a wind farm in Egypt, with expected initial capacity of 120 MW. Italgen also plans a Moroccan wind farm to satisfy energy needs of its Ciments du Maroc subsidiary.