in News Departments > New & Noteworthy
print the content item

Vestas has entered into an agreement to sell two wind projects to LUKERG Renew, a joint venture company of Russia-based Lukoil and Italy-based ERG Renew, for a total enterprise value of EUR 127 million.

Vestas co-developed the Romanian project Gebeleisis and the Bulgarian project Hrabrovo. The company says it has decided to sell the wind farms because development and ownership of projects is not part of Vestas' regular business model.

Closing of the transactions is expected to take place within the next eight weeks; however, the Hrabrovo transaction is subject to approval by the Bulgarian competition authority.

The Gebeleisis wind power plant is located in the Galati region in Romania and has been fully operational since February. The wind power plant has a total capacity of 70 MW (35 V90-2.0 MW turbines), and the value of the project amounts to EUR 109.2 million.

The Hrabrovo wind power plant is located in the region of Dobrich in Bulgaria, and has been fully operational since March 2012. The wind power plant has a total capacity of 14 MW (seven V90-2.0 MW turbines), and the value of the project amounts to EUR 17.6 million.



Mortenson Construction_id2024

Trachte Inc._id1770
Latest Top Stories

Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.


Could Initial Offshore Wind Projects Crash New England's REC Market?

Some are concerned that the first offshore wind projects could negatively impact pricing of renewable energy credits (RECs) in New England.


Catching Up With The DOE's Down-Select Offshore Winners

The three recipients of key U.S. Department of Energy (DOE) funding provide updates on their offshore wind demonstration projects.


Texas Comptroller Attacks Wind Power, And Industry Fights Back

Texas Comptroller Susan Combs recently released a report calling for an end to wind power subsidies. The Wind Coalition has responded, saying the report is riddled with misinformation.

Canwea_id1984
Renewable NRG_id1934