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CEZ sets up renewable energy unit in Bulgaria10.01.2011Czech state-run energy company CEZ has set up a subsidiary, dubbed CEZ Bulgarian Investments, which will be engaged in purchasing power from renewable sources, it said in a statement.
The unit has been added to the Dutch commercial register and is fully owned by the Czech company.
The new business has an authorised share capital of EUR 30,000 and comes to respond to a growing interest in renewable energy sources in Bulgaria, CEZ without providing further information.
The subsidiary will most likely take part in the development of its own green power capacities in the country, daily Dnevnik noted.
CEZ, which supplies electricity to western Bulgaria, has been present on the Bulgarian market since 2004. The utility owns six subsidiaries in the country, including CEZ Bulgaria, CEZ Electro, CEZ Trade, CEZ Laboratories, CEZ Razpredelenie and CEZ Bulgarian Investments.
Source: Dnevnik