Kavarna · Black Sea Coast · 43.39° N, 28.45° E
GEO Power OOD initiated the development of the 156 MW St. Nikola Wind Farm on the Dobrudzha plateau in 2002 — and remains a shareholder in its operating company and a landowner in the region today.
The Company
GEO Power OOD is a private Bulgarian–German renewable energy development company, established in 2003 and a member of the German-Bulgarian Chamber of Commerce and Industry. In 2002 — years before wind power reached the Bulgarian grid at scale — GEO Power began measuring the wind resource of the Dobrudzha plateau near Kavarna and assembling the land, permits, and grid access for what would become the country's largest wind farm.
In 2006, GEO Power partnered with AES, one of the world's leading power companies, to form the joint venture AES Geo Energy OOD, which completed, owns, and operates the St. Nikola Wind Farm. GEO Power remains an 11% shareholder in the project company.
Beyond its shareholding, GEO Power owns land in the St. Nikola region — a durable foundation for the next generation of renewable energy development on Bulgaria's windiest coast.
History
GEO Power initiates the St. Nikola project: wind resource assessment, land assembly, and permitting on the Kavarna plateau.
AES Geo Energy OOD is formed to complete, own, and operate the project — 89% AES, 11% GEO Power.
A total investment of €270 million is financed by the EBRD, UniCredit, and IFC.
Construction of all 52 turbines is completed and St. Nikola begins delivering clean electricity — Bulgaria's largest wind farm to this day.
Flagship Project
Sited about three kilometres inland from the Black Sea on the lands of Bulgarevo, Sveti Nikola, Hadzhi Dimitar, and Poruchik Chunchevo in Kavarna Municipality.
St. Nikola was among the first utility-scale wind projects in Bulgaria and remains the benchmark: a 156 MW plant representing a €270 million investment financed by the EBRD, UniCredit, and IFC, built with proven Vestas technology, and operated to international standards by AES Geo Energy.
The project helped Bulgaria meet its renewable energy targets and demonstrated that privately developed, project-financed wind power works on the Bulgarian grid.
The Kavarna coast lies on the Via Pontica, one of Europe's major bird migration routes. St. Nikola operates a radar-based monitoring system that can shut down turbines when migrating flocks approach — recognised as industry best practice — together with long-term ornithological monitoring.
Land & Development
GEO Power owns land in the St. Nikola region — assembled during the original development of the wind farm and held in one of the best wind resource areas on the Bulgarian Black Sea coast.
Land holdings on the Dobrudzha plateau, in the immediate vicinity of Bulgaria's largest operating wind farm and its proven wind resource.
Two decades of measured wind data and operating history from St. Nikola de-risk future wind, solar, and hybrid projects in the region.
GEO Power welcomes discussions with developers, investors, and technology partners on renewable energy projects in the Kavarna region.
Partners
Joint Venture
Global power company and 89% partner in AES Geo Energy OOD, the owner and operator of the St. Nikola Wind Farm.
Financing
The €270 million St. Nikola investment was financed by the European Bank for Reconstruction and Development, UniCredit, and the International Finance Corporation.
Development
German engineering partner in wind project development, reflecting GEO Power's Bulgarian–German roots.
Contact
For enquiries about land, project development, or partnership opportunities in the St. Nikola region, get in touch.
