Lukoil mulls renewable energy projects in Bulgaria, Romania.

By bne IntelliNews May 26, 2011
Russias oil major Lukoil has set up a joint company (50%/50%) with Italys ERG Renew (part of ERG Group), named LUKErg Renew, to run wind and solar energy projects in Bulgaria and Romania and later in Ukraine and Russia, Dnevnik Daily reported. The business plan should be approved by the end of the year. No investment values or deadlines have been disclosed so far. Lukoil owns the countrys oil refinery in Burgas Lukoil Neftochim and the petrol retailer Lukoil Bulgaria.

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