September 19, 2007 Green Bear finalized the acquisition of a 10,8 MW operating wind farm in Poland. Lisewo, which is located in the North of Poland close to Gdansk, is managed and operated by the Company.
Wind power is the conversion of wind energy into more useful forms, usually electricity using wind turbines.
At the end of 2007, worldwide capacity of wind-powered generators was 93,8 GW (+26,6% vs. 2006); although it currently produces less than 1,3% of world-wide electricity use, in some countries and regions wind energy already contributes 40% and more.
In Europe, wind energy is the fastest growing power source, with cumulative wind power capacity in the EU increasing by an average 32% per year over the ten year period from 1995 to 2005. In the last 5 years 30% of all newly installed electricity generating capacity in the EU is wind power (European Wind Energy Association).
The Central and Eastern European wind power sector is developing rapidly at present. For the time being the total installed capacity in the wind power sector is still quite low: approx. installed capacity of 276 MW in Poland, 116 MW in Czech Republic, 89 MW in Ukraine, 70 MW in Bulgaria, 65 MW in Hungary (European Wind Energy Association statistics from 2007). This implies that there is still ample scope of investment in this area. A number of wind projects are now operational, with a significant number of others in the pipeline.
Wind energy is abundant, renewable, widely distributed, clean and reduces toxic atmospheric and greenhouse gas emissions if used to replace fossil-fuel-derived electricity. The intermittency of wind can create challenges in using this source of energy effectively.
Green Bear's projects and investments in the wind power sector:
September 19, 2007 Green Bear finalized the acquisition of a 10,8 MW operating wind farm in Poland. Lisewo, which is located in the North of Poland close to Gdansk, is managed and operated by the Company.
Wind projects at different development status.
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