Elana Holding Invests 30m Euro In Wind Park

Investment firm Elana Holding has invested 30 million euro in the construction of a new wind park near the Popsko and Pashkul villages in Ivailovgrad municipality, Ivan Gerginov, the manager of wind electric power central in Popsko (WEC Popsko) has said. The facility, initially at least, will entail the construction of nine wind generators.Projected annual revenue from the wind park operation is estimated at 14.5 million euro during the course of 5200 hours of effective work. "We expect the wind park to be completed and connected to the national grid by the end of 2010," said Gerginov.The wind power plant in Popsko is one of seven Elana wind power enterprises that will be developed. Until recently, the company had processed two investments, the first near the village of Bulgarevo, Dobrich and Vetrino village, Varna. The remaining projects are still on the drawing board, whereas the one in Ivailovgrad has reached the most advanced stage - approval prior to construction.Elana Holding has been granted an investment Class A certificate for this particular project. The certificate was awarded to the company after a recent change in the regulation of investment, which lowered the barrier that stood at 70 million euro, so that Elana Holding managed to obtain the certificate with its 30-million euro investment scheme.The construction envisages the installation of a new road network infrastructure in the region of Popsko and Pashkul, where necessary, and the renovation of the existing one."If we don't modernise the infrastructure, then heavy equipment, wind generators and other kit designated for the wind parks simply cannot be delivered there."The wind park's construction will employ 50 workers. Once the facility is completed and in operation, it will provide employment for 14 people.