German Plambeck in joint venture in Turkey and Bulgaria

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Germany's Plambeck Neue Energien has signed two co-operation contracts with a view to founding joint venture wind development companies in Turkey and Bulgaria. The intention is to take an 80% stake in Türkwind Energie, with the aim of developing a 450 MW project pipeline from 2010 at a cost of up to EUR 630 million. It has the same sized stake in mind for Bul-Energy, which has a 250 MW portfolio of wind projects in various stages of development, also to be built out after 2010, this time for a cost of up to EUR 350 million. In both cases, the local partners will develop the projects to the point of construction. Plambeck will take on turbine procurement, project financing, sale of the build-ready projects, and commercial and technical operation of them after they are sold.

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