Due to a series of restrictive legislative changes and unfavorable economic conditions for wind energy, CWP terminated its 200MW wind farm developer (Wind Park Mirovci) and exited Bulgaria in 2014.
CWP entered Bulgaria in the middle of 2008 and established partnerships with local developers for the development of several projects. Unfortunately, a series of restrictive legislative changes occurred in 2011, 2012 and 2013 and essentially paralyzed the wind energy industry in Bulgaria.
Furthermore, in 2015 Parliament shelved the incentives in an amendment to the energy act, as it was seeking to cut energy sector deficits and contain power prices in the EU’s poorest member state. Going forward, incentives remained in place only for small-scale renewable energy projects.