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Lukoil to develop renewable energy projects in Bulgaria and Romania

Wed, Mar 09 2011 00:30 CET

byDnevnik.bg

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Lukoil to develop renewable energy projects in Bulgaria and Romania

Photo: Dnevnik.bg

Russia's oil giant Lukoil intends to develop wind and solar power plants in Bulgaria and Romania, Vasily Zubakin, deputy head of the company's main energy division, said as quoted by news agency Ria Novosti.
 
The projects are part of Lukoil's strategy to enter the renewable energy business, he said.
 
As Russia has no mechanism to support alternative energy sources, Lukoil plans to direct such investments abroad, according to Zubakin.
 
The company expects to wrap up plans for the new capacities by the end of 2011 and to have launched negotiations with potential partners in Bulgaria and Romania by then.
 

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