Solar Energy Group and Helium Energy to Build Solar Park in Bulgaria

Bulgaria-based Solar Energy Group and its Spanish partner Helium Energy have laid out plans to build a BGL30 million solar park in the Bulgarian town of Pazardzhik, according to SeeNews.

The two firms are planning to build a 50MW solar park and a power station on a 250-hectare property in Pazardzhik. The location has been reportedly selected primarily due its solar energy potential of 1,500kWh per square meter.

The two companies are also planning to build a factory which will manufacture photovoltaic panels, close to the solar park.

Under European Union directives, Bulgaria needs to account for 11% renewable energy consumption in its total energy matrix, by 2010. Bulgarian regulation provides for a 12-year preferential price regime for renewable energy producers.