France's GDF Suez is planning investing EUR100m ($142.2m) in building biomass power plants in four Bulgarian towns.
GDF Suez has 695 MW in biomass fuelled power plant capacity mainly in the United States and Brazil. Last year it said it would build what it called the world's largest biomass plant in Poland.
Bulgaria is preparing a new law on renewable energy which envisions incentives for biomass energy production. The Balkan country aims to have 433 MW of biomass plants by 2020, when it targets 16 per cent of total energy consumption coming from renewable energy sources.
Agriculture Minister Miroslav Naidenov said Bulgarian forests have been increasing by an annual 4000 hectares in the past several years, but the available biomass is not being used and is left to decay.
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