Clever Synergies Investment Fund (CSIF) has new plans for wind, mini-hydro and biomass energy projects. The fund is planning to increase its wind farms located at Kavarna, a coastal town on the Black Sea, from 16.5 megawatts to 220 megawatts by 2012. CSIF is a member of the European Wind Energy Association.

The fund already has four mini-hydro plants in operation (Asenica I, Asenica II, Rakita and Malusha), producing 14 megawatts. A fifth (Stankova) is being constructed and will add an additional megawatt to that total. The mini-hydro plants are located on the Chepelare River, which also supports two hydroelectric plants. It seems likely that CSIF will expand its mini-hydro holdings as well.

While CSIF's biomass project is still in the planning stage, it is expected to produce biomass from 10,000 hectares (24,710 acres). The facility will have two processing factories. A CSIF representative told Clean Edge that the details of the project are not set — land must be purchased and the final site will affect the particulars of the project.

Tzvetelina Borislavova, a prominent Bulgarian banker associated with EIbank, chairs CSIF, which also holds investments in real estate, financial services, tourism and logistics throughout Bulgaria.

Image — CSIF