Suzlon in JV with Bulgarian wind farm company

Suzlon Energy's European division-Suzlon Wind Energy, has entered into a joint venture with Volkswind Bulgaria. Volkswind Bulgaria is a subsidiary of Germany’s Volkswind GmbH, one of the leading independent power producers in Europe. It is one of the largest wind farm operators in Germany, with over 40 wind farms.

Suzlon claims that the joint venture will accelerate Suzlon's growth in the Bulgarian wind energy market. The joint venture has synergies as Volkswind's local knowledge and development experience can be combined with Suzlon's expertise in developing utility scale projects. The joint venture will develop projects exclusively using Suzlon wind turbines.

"This is a very important step in our strategy to expand our project development activities into new regions. Suzlon already has a 13 megawatt project under construction in Bulgaria for a leading industrial client, and I believe that our new relationship with Volkswind will help us grow Bulgaria’s wind industry even further," said Erik Winther Pedersen, CEO - Suzlon Wind Energy A/S.

Bulgaria offers one of the most attractive wind markets in Eastern Europe, and is expected to achieve 500 megawatt of wind energy capacity by the end of 2010, with a target of more than 3,000 megawatt by 2020. "Suzlon's existing infrastructure and experience from already erected turbines in Bulgaria will be beneficial for the development process," said Malte Huchzermeier, Director, Volkswind Bulgaria GmbH.