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.

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