The unit has been added to the Dutch commercial register and is fully-owned by the Czech company.
According to a company statement, the new business was launched in response to the growing interesting the renewable energy across the country.
CEZ, which supplies electricity to western Bulgaria, has been on the domestic market since 2004. Its new subsidiary is expected now only to buy energy from renewable sources, but to develop its own renewable capabilities over time.
The utility owns now six subsidiaries in Bulgaria, including CEZ Bulgaria, CEZ Electro, CEZ Trade, CEZ Laboratories, CEZ Razpredelenie and CEZ Bulgarian Investments.
In other CEZ related news, its Romanian subsidiary, CEZ Romania SA, has finalized the acquisition of the hydroenergy system in Caras Severin County near Resita. The company did so by buying a 100 percent stake in TMK Hydroenergy Power SRL.
Currently CEZ operates 300 MW of installed capacity in the first stage of its wind farm project in Romanian county Dobrogea. After its completion the wind farm will reach 600 MW of installed capacity and will be the largest onshore wind park in Europe.
This new acquisition is in line with CEZ´s policy to focus on its core business in countries with existing operations and in addition it is in the area of semi-regulated renewable generation.
The newly acquired company consists of four resevoirs with dams – Trei Ape, Gozna, Valiug, Secu and four small hydro power plants – Crainicel I, Crainicel II, Grebla and Breazova. The total installed power output is approximately 18 MW. The installed capacity of each hydro unit is under 10 MW.
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