Austrian company Photovoltaic Tervel 1 plans to invest 25 million euro ($34.7 million) in building a solar park in northeastern Bulgaria, a Sofia-based daily reported on Monday.
The company plans to build 250,000 modules for solar energy with a combined generation capacity of five megawatts on a 30-hectare area near the town of Tervel, daily Klasa (www.class.bg) reported.
The park is expected to go on stream next year, the daily reported.
Bulgaria currently has one operational solar park with a capacity of one megawatt.
Bulgaria, a EU member since 2007, aims to increase the share of energy generated from renewable sources to 16% of its total production by 2020, compared to below 10% now.
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