California-based solar developer Premier Power is set to build four photovoltaic (PV) plants with a combined capacity of 16.2MW in Dimitrovgrd, Bulgaria.
The projects are the result of a joint venture with European engineering, procurement and construction company Plaan Czech. Each installation will range from 3MW to 5MW and is to be funded by an unnamed private investment organisation based in the Czech Republic.
Construction on the sites will begin this month and should be complete by the end of the year. When finished the plants will add 75 per cent to the Bulgaria’s solar generating capacity which stood at 21MW at the start of 2011.
Bjorn Persson, executive vice president of European operations at Premier Power, said, ‘These projects underscore Premier Power’s unparalleled ability to rapidly respond to dynamic economies and shifting renewable energy policies in emerging and established markets around the world. Our previous successes in Eastern Europe – a region few others have been able to effectively penetrate – are now enabling us to capture significant market share in Bulgaria. We look forward to building our presence in Bulgaria as the country aggressively targets its goal of reaching 16 per cent renewable power by the year 2020.’
In March, Premier Power revealed that it had made record fourth quarter revenues for the last three months of the 2010 fiscal year but the company still made an overall loss of $537m over the twelve months.
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