Bulgarian Watchdog Clears Acquisition of 3 Wind Parks by LUKErg Renew

Energy | March 26, 2012, Monday // 16:23|  views

he Commission on Protection of Competition (KZK) has cleared the acquisition of the 3 wind parks by the Russian-Italian joint venture. Photo by BGNES

Bulgaria's anti-trust watchdog has cleared a renewable energy acquisition involving Russian Lukoil.

The Commission on Protection of Competition (KZK) permitted LUKERG Renew, a joint venture of Russian Lukoil and Italian ERG Renew, to buy three small wind parks near the northern Bulgarian Black Sea town of Kavarna.

Vienna-registered LUKERG Renew, a 50-50 joint venture of LUKOIL-Ecoenergo (a 100% owned subsidiary of ОАО LUKOIL) and Italian ERG Renew, was created in end-May 2011.

The company will acquire Wind Park Kavarna East, Wind Park Kavarna West and K&S Energy.

"The participants in the concentration control insignificant production capacities, meaning that they are not among the main players on this market at the current stage," the anti-trust watchdog said in a statement.

The wind farms with a capacity of 14 MW are owned by Raiffeisen Energy & Environment GmbH and are part of a park with 40 MW of installed capacity.

Lukoil is a main player on the fuel market in Bulgaria through the Lukoil Neftochim refinery in Burgas and the Lukoil chain of filling stations.

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Tags: Lukoil Neftochim, Lukoil Bulgaria, Lukoil, Russian, wind parks, LUKERG Renew, wind power, wind park, wind parks, wind farm, wind farms, Neftochim, refinery, renewable energy, filling stations, Commission on Protection of Competition, KZK, ERG SpA


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