Lukoil Eyes Wind, Solar Energy Plants in Bulgaria, Romania

The Russian giant Lukoil is planning to invest in wind and solar energy plants in Bulgaria and Romania. Photo by Lukoil

Russian oil company Lukoil wants to build wind and solar energy plants in Bulgaria and Romania, according to company representative Vasily Zoubakine.

The company is interested in both new projects and in acquiring existing ones. The plans for the new energy plants are expected to be ready by the end of 2011 when negotiations with local partners can begin, Zaoubakine told RIA Novosti.

"As Russia did not have a system to support energy alternatives, the Lukoil investments are focused abroad, including on countries where Lukoil is present, such as Bulgaria and Romania, where the company plans to build wind and solar energy farms," he said.

In his words, this is part of the government's strategy to get involved in the business with renewable energy sources.

Lukoil is the biggest private oil company in Russia and it owns Lukoil-Neftohim Burgas and the Lukoil gas station chain in Bulgaria.

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