The markets that Island Renewable Energy have initially chosen to venture into are based on a combined rationale of:
- Sufficient renewable resource;
- Strong regulatory and government supports for renewable power;
- A local appreciation of the internal market, and
- An extensive working knowledge of the grid and planning systems.
Bulgaria, despite its relative shelter from large ocean forming wind currents, is now much more amenable to wind power generation due to technological progress in extracting greater energy from lower wind speed sites. Larger rotor blades can now be optimised to significantly increase the wind turbine generating capacity factor. This advancement and greater accessibility is now redefining the role for renewables in the energy sector of South East Europe.
Bulgarian government subsidies for wind power are priced relatively favourably with a twelve years feed-in tariff. This makes Bulgaria an attractive territory for Island Renewable Energy. We have a formidable team based in Sofia to lead our assets development through specific challenges of planning and major infrastructure development.
The current pipeline of sizeable developments in south east Europe is based exclusively in Bulgaria. Additionally we are at a preliminary stage in pursuing sites in neighbouring countries.