Launch of First Wind Power Operation in Bulgaria
Tokyo, Aug 7, 2008 - Japan’s Mitsubishi Heavy Industries Ltd. said Thursday that the first wind power plant in Bulgaria, which it jointly built with Bulgarian construction firm Inos Ltd., has started operations. The plant, located at Kaliakra Cape on the Black Sea coast, has the capacity to generate 35 megawatts of electricity, all of which will be sold to Bulgaria’s state-owned power company, Mitsubishi Heavy said. A joint venture to run the wind plant was established in late 2005, 70 pct owned by Mitsubishi Heavy and 30 pct owned by Inos. The two sides run the wind power generation business as Joint Implementation, one of the three special mechanisms under the Kyoto Protocol on combating global warming. JI enables a developed country to obtain emission credits in exchange for cooperation in reducing greenhouse gas emissions in another. The project will help Japan achieve its goal of cutting greenhouse gas emissions under the Kyoto Protocol if the governments of the two countries approve it. By replacing existing thermal power generation, the new wind power generation is expected to cut some 85,000 tons of carbon dioxide emissions annually, Mitsubishi Heavy said. Japan Carbon Finance Ltd., established mainly by the Japan Bank for International Cooperation, will buy up to 350,000 tons of emission credits to be obtained through the project, and any surplus credit beyond 350,000 tons will be purchased by Mitsubishi Heavy. The project in Bulgaria is Mitsubishi Heavy’s second overseas power facility, following one in Spain. Mitsubishi Heavy aims to strengthen sales of wind power generation equipment and create a better business structure for obtaining emission credits in Europe, the company said
