The Moscow Times
A joint venture of the Italian energy company ERG and LUKoil, Lukerg Renew, has received approval to buy four wind energy companies in northeastern Bulgaria and beef up its clean energy profile in Europe.
The Bulgarian Competition Protection Commission gave the companies permission to buy Global Energy, Mark 1, Mark 2 and UP Bulgaria 4, Vedomosti reported.
A representative of LUKoil confirmed the deal but did not disclose its value.
Lukerg Renew was founded in 2011 specifically to build wind farms and sell their power in Bulgaria and Romania. The governments of the two Balkan countries have invested heavily in alternative energy, and LUKoil already owns a solar power station in the area in addition to an oil refinery in the Bulgarian city of Burgas.
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