Toshiba to Build Solar Power Plant in Bulgaria

Bulgaria will be among the eight countries in which the Japanese company Toshiba is planning to invest in construction of solar power plants. Photo by EPA/BGNES

The Japanese company Toshiba is planning to invest in construction of solar power plants in the USA and countries in Europe, including Bulgaria.

The company has annouocned it is expecting an income of USD 1,8 B from these investments by March 2016.

Toshiba will begin implementing its investment plan with the construction of a 10 MW solar power plant in Bulgaria, which is expected to begin working in the next financial year.

The plant will be located near the Bulgarian city of Yambol and it will cost about EUR 3,7 M. It will be sufficient to supply electricity to about 2000 households.

Toshiba will not retain the ownership of the plant but would sell it to local financial funds and investors instead.

The Japanese company is planning to build 8 large solar power plants in Europe by 2015.

“We will consider the acquisition of local companies with experience in the construction of such plants,” the company's spokesperson said.

The experience in the field of solar energy and “smart grids” can provide Toshiba's good positions on the US and Italian market.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!