CEZ Sets Up Bulgarian Subsidiary for Renewable Energy Investments

Bulgaria's Czech-owned power utility CEZ has established a new subsidiary called CEZ Bulgaria Investments.

The new company from the CEZ portfolio is going to focus specially on investments in renewable energy sources, the company announced on Friday.

CEZ Bulgaria Investments was founded on January 3, 2011; a day later it was registered in the trade register in the Netherlands with a capital of EUR 30 000. It is 100% owned by CEZ A.S.

CEZ, which is the electricity distribution company in Sofia and Western Bulgaria, has previous announced a commitment to developing a portfolio of Bulgarian renewable energy projects.

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