Identifier
Created
Classification
Origin
09SOFIA535
2009-09-24 11:53:00
UNCLASSIFIED
Embassy Sofia
Cable title:
BULGARIA: COMMENTS ON OPIC-SUPPORTED GLOBAL RENEWABLE
how-toVZCZCXYZ0023 RR RUEHWEB DE RUEHSF #0535 2671153 ZNR UUUUU ZZH (CCY ADB76464 MSI8709-623) R 241153Z SEP 09 ZDS FM AMEMBASSY SOFIA TO RUEHC/SECSTATE WASHDC 6343
UNCLAS SOFIA 000535
SIPDIS
DEPT PLS PASS EUROPEAN POLITICAL COLLECTIVE
C O R R E C T E D C O P Y // ADDED PASS LINE
E.O. 12958: N/A
TAGS: EFIN EINV ECON PGOV BU
SUBJECT: BULGARIA: COMMENTS ON OPIC-SUPPORTED GLOBAL RENEWABLE
INVESTMENT FUND
REF: STATE 095170
UNCLAS SOFIA 000535
SIPDIS
DEPT PLS PASS EUROPEAN POLITICAL COLLECTIVE
C O R R E C T E D C O P Y // ADDED PASS LINE
E.O. 12958: N/A
TAGS: EFIN EINV ECON PGOV BU
SUBJECT: BULGARIA: COMMENTS ON OPIC-SUPPORTED GLOBAL RENEWABLE
INVESTMENT FUND
REF: STATE 095170
1. Per reftel, Post supports OPIC's proposed investment in the USRG
Emerging Market Fund ("the Fund") and is not aware of any derogatory
information on the prospective fund manager, US Renewables Group,
LLC.
2. The Fund's objectives appear entirely consistent with Bulgaria's
energy needs and policies. Currently, renewable sources (primarily
hydroelectric) account for around 11 percent of Bulgaria's total
energy production. In January 2009, the Russia-Ukraine gas dispute
highlighted the need for greater diversification of energy sources
and suppliers. As a result, the Bulgarian government plans to
increase renewable energy production to 20 percent by 2020 through
foreign investment and EU-funded projects.
ORDWAY
SIPDIS
DEPT PLS PASS EUROPEAN POLITICAL COLLECTIVE
C O R R E C T E D C O P Y // ADDED PASS LINE
E.O. 12958: N/A
TAGS: EFIN EINV ECON PGOV BU
SUBJECT: BULGARIA: COMMENTS ON OPIC-SUPPORTED GLOBAL RENEWABLE
INVESTMENT FUND
REF: STATE 095170
1. Per reftel, Post supports OPIC's proposed investment in the USRG
Emerging Market Fund ("the Fund") and is not aware of any derogatory
information on the prospective fund manager, US Renewables Group,
LLC.
2. The Fund's objectives appear entirely consistent with Bulgaria's
energy needs and policies. Currently, renewable sources (primarily
hydroelectric) account for around 11 percent of Bulgaria's total
energy production. In January 2009, the Russia-Ukraine gas dispute
highlighted the need for greater diversification of energy sources
and suppliers. As a result, the Bulgarian government plans to
increase renewable energy production to 20 percent by 2020 through
foreign investment and EU-funded projects.
ORDWAY