Balmoral Plans 144-MW of Solar PV in Bulgaria

Balmoral Capital Holdings Inc., the financing arm of Balmoral Bulgaria SPV, an integrated solar power plant development company has signed a 25 year agreement with Apex Solar to organize approvals for 18 photovoltaic power plants in Bulgaria.

The solar farms are currently in the early stages of the development process and panel delivery is scheduled for early 2010, the online edition Renewable Energy World reported.

Plants will range in size from 1-5 megawatts (MW), with a total expected capacity of 144 MW.

Each plant designed will be organized by Apex Solar. The company plans to build 130-144 PV plants in Bulgaria and move to other European markets by 2011.

"We are looking for competitive bids on state-of-the-art high performance PV panels and the results of the winning bid will be given in the next 30 days. There are so many high technically performing panels with great financial returns. It is hard to settle to one manufacturer," said Rodney Kincaid, managing partner of Balmoral Capital and CEO of Balmoral Financial.

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