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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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