US AES Starts to Build Solar Power Plant near Bulgaria's Silistra

The US company AES Solar has started to build a 20.6 MW photovoltaic near the Danube city of Silistra in Bulgaria.

The park will be funded with EUR 48 M from Societe Generale Expressbank , the bank announced on Wednesday.

"We managed to create a suitable model for providing project financing in various sectors of the economy," commented Maria Ruseva, CEO of Societe Generale Expressbank.

"This allows us to be useful in the context of the EU strategy for the production of energy from renewable sources. "

In 2009 AES Corp.launched a 156 MW wind park near the town of Kavarna on the northern Black Sea coast.

The EUR 270 M wind farm is a joint project between the company and the Bulgarian-German company Geo Power.

Its output capacity is expected to increase up to 330 MW.

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