EVN Bulgarevo Wind Farm

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EVN-Enertrag Kavarna was planning the development of the 80 MW Bulgarevo wind farm, near Balgarevo and Poruchik Chunchevo village - cape Kaliakra. The project was to be deveped in two stages. The 20 MW first stage was to be completed and connected to the national grid in the second quarter of 2010, totalling 25 2 MW turbines. The 30 MW second stage is under development, with no clear time schedule available as of October 2011. EVN-Enertrag Kavarna was a joint venture between EVN Naturkraft of Austria (70%) and German Enertrag (30%). EVN was first listed on the Austrian stock exchange in 1989. The development rights for the project were initially won by Universum Energy in two tenders held by the local municipality in 2004. Universum Energy was a joint venture between local and German firms, which initially planned for the development of a 69 MW project. Universum Energy received approval from the Varna Regional Inspectorate for Environments and Waters (RIOSV Varna) in July 2005. Further development was delayed by environmental groups, with their final appeal rejected in 2008. EVN-Enertrag Kavarna took over the project in December 2008. The investment costs of the first stage were estimated at EUR100 million ($133 million). Details on financing or estimated costs for the second stage were not available as of October 2011. Pushed from 2011.