Community is at the heart of everything we do. We work hand-in-hand with our communities to create a series of longer-term projects that leave a lasting legacy. It is all about the legacy we leave. We provide an alternative for clean energy that will benefit future generations. But that is not enough. During the construction and operation phase, we want to support the local communities that make the implementation of our wind farm possible, leaving a tangible legacy that changes everyday life for years to come.
CWP Global believes that Bulgaria can drastically reduce electricity prices for the households and business by including more renewable energy in the country’s energy mix. The company offers effective solutions for the development of the Bulgarian energy sector and for building a competitive economy in the context of the global decarbonization targets, in its analysis “Vision 2030 – For cheaper electricity and a more competitive economy”. The analysis shows that the most efficient and competitive way forward for the Bulgarian energy sector is the development of 7 GW of new wind and solar capacities that would be built on a market basis. Attracting private capital can happen by updating the regulatory framework, without the need for government subsidies or public resource investments.
This way, the average price of electricity in Bulgaria can be reduced for households and businesses. The analysis shows that this is how lower electricity prices, stability, independence, and predictability of the energy system can be guaranteed in Bulgaria, which will help increase the competitiveness of the entire Bulgarian economy.
In connection with the forthcoming energy transformation of the Bulgarian economy, one of the significant investments of CWP Global since 2021 is in Bulgaria, through the project company WPG EOOD. The company was established with the aim to develop and implement a wind park with a total installed capacity of 168 MW, obtained from the installation of 24 wind turbines.
The implementation of the project is planned on the territories of two neighboring municipalities – Venets and Hitrino, located in Shumen district. Twelve (12) of the wind generators are located in the area of the villages of Gabritsa, Chernoglavtsi and Drentsi – Venets Municipality. The remaining twelve (12) wind generators are located in the villages of Bliznatsi and Kalino – Hitrino Municipality.
As a socially responsible investor, CWP and its project company WPG EOOD want to build a successful partnership with the local administration and community, and the main focus of this cooperation is to improve the quality of life of the local population in the long run. As part of the project, WPG EOOD plans to implement a social program aimed at supporting various initiatives that are of particular importance for both municipalities and the local community. The indicative total budget for the implementation of social initiatives until the issuance of a building permit (2022-2025) amounts to BGN 13 000 per each turbine generator for which a building permit is issued by the competent authorities or a total of approximately BGN 156 000 for each one of the Venets and Hitrino municipalities respectively.
The indicative budget for the social program will be provided in stages in view of the degree of implementation of the project. WPG EOOD relies on the local community and administration to use the funds in the best possible way, in view of which a Board of Trustees for the social program will be established. Its mandatory members will be:
- Municipal mayor
- Chairman of the Municipal Council
- Mayors of the villages in whose land wind turbines are planned to be installed
- Representative of the investor company
The Board of Trustees will be able to choose from the proposed projects and initiatives those that are most impactful to the local community and which can be financed by the company’s social program.