Jan 31 2011
Euro Solar Parks declared that it has acquired land measuring around 11,560m2 in two important places in Bulgaria for the construction solar plants to generate 0.7 MWp power.
The company has taken over FOREIGN SUPPORT AND CONSULTING (FSC), a consulting and development company in Bulgaria, to complete its land acquiring process. FSC specializes in providing advisory services for overseas companies who are looking forward to enter the Bulgarian energy market. FSC has bought the land for the purpose of developing it for industrial purposes.
The new Bulgarian company is being renamed as EURO SOLAR PARKS BULGARIA (EUSB) by Euro Solar to meet its world-wide business growth plans. The new company will assume the responsibility for the business development of Euro Solar in Eastern Europe. The acquired land resources are placed in Karlovo Municipality in Bulgaria and locate close to the national grid at a distance of 21 and 57 meters. The administration of EUSB is anticipated to commence the construction of the solar PV plant and preparing the required structural plan, other land development documents and finally signing of an accord with a local electric utility company to transfer the generated power from the facility. The company is anticipated to complete the licensing processes by in 2011 and commence building of the plant by the year end.
EUSB is also weighing its options to further its investment for buying extra land and to improve the power production capability up to 2 MW. Based on the currently available feed-in tariff facility the company will earn an annual income of around EUR 256,900 from the end of 2011.