GDF eyes biomass investment in Bulgaria: ministry

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French power giant GDF Suez is considering a 100-million-euro ($142-million) investment in biomass plants in Bulgaria, the country's farming minister Miroslav Naydenov said Monday.

GDF Suez is planning to build biomass-fuelled power plants in four Bulgarian towns, Naydenov said in a ministry statement, although he did not elaborate further.

Bulgarian and Spanish companies are also interested in investing in biomass in the country, he said.

Forests in Bulgaria have increased by an annual average of 4,000 hectares over the past years, while most of the biomass remained unused and was left to rot, Naydenov added.

Some 10.6 percent of Bulgaria's energy consumption in 2010 came from renewables, and the country aims to raise the share of green energy to 16 percent of total consumption by 2020.

© 2011 AFP

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