Germany's Bosch sells 25MW PV parks in Bulgaria for €10mn

By bne IntelliNews July 13, 2015

Bosch Solar Energy, a unit of Germany's Bosch, has sold its five photovoltaic (PV) parks in Bulgaria, Capital Daily reported. Each of the parks has an installed capacity of 4.98MW. They were connected to the grid in July 2012.

The buyer is Nedko Mladenov, the CEO of the Bosch subsidiary that managed the projects situated near the town of Kazanlak. The deal took place in April.

The daily speculates that the price of the transaction was €10mn – the amount of a loan received from Investbank. In 2013, the five PV parks generated revenue of slightly more than BGN8mn (€4.1mn).

Bosch Solar Energy manufactures solar modules and it originally planned to participate only as a contractor in solar energy projects in Bulgaria, the daily reports.

Related Articles

Bulgarian government gives up plan to join CEZ asset sale deal

Bulgaria’s government does not intend to participate in the deal to sell assets of Czech energy company CEZ, Finance Minister ... more

Bulgarian opposition demands resignations after travellers stroll through abandoned passport control at Sofia airport

Bulgaria’s main opposition Socialist Party (BSP) is demanding the dismissal of Interior Minister ... more

Bulgaria creates “golden hole” for corruption as it scraps procurement rules for Turkish border fence repairs

Bulgaria's parliament approved on March 22 highly controversial amendments to the Public Procurement Act that will allow contracts to repair the fence along its border with Turkey to be ... more