Italian Firm to Invest EUR 6.5 M in Solar Park in Southern BulgariaEnergy | April 17, 2012, Tuesday // 15:05| views
Bulgaria is to comply with a 20% renewable electricity target by 2020. Photo by dariknews.bg
Italy's Urmet Group will invest EUR 6.5 M in the first major solar park near the southern Bulgarian village of Shishmantsi, Plovdiv municipality.
The facility will have a capacity of 3 MW, according to reports of private TV channel TV7.
Bulgaria is currently required by the EU to guarantee a 12% share of electricity produced from renewable energy sources and the target grows to 20% by 2020.
The solar park occupies a territory of 57 decares on the site of a former steel mill near Shishmantsi.
The installation of the solar panels continues and the units are to start functioning in less than a month.
The solar park will generate electricity in the next 20 years and the panels will function even in wintertime.
The company will donate six solar panel installations to Plovdiv-based schools and kindergartens, thereby enabling them to use free electricity.
At present, 70 people are working on the construction site.
The foreign investor also plans to open two factories in Bulgaria, thereby creating another 1000 jobs.
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