Germany's Profine, Wirth Gruppe ponder EUR-1bn solar investment in Bulgaria

A recently-created energy services joint venture between Germany’s Profine Group and Wirth Gruppe is keen on investing more than EUR 1 billion (USD 999m) in the development and construction of solar photovoltaic (PV) parks in northwestern Bulgaria.

This was announced on Monday by the country’s economy ministry, which said in a statement that minister Nikola Stoyanov had met with the management of the JV company, called Profine Energy GmbH. Stoyanov has committed to providing full support when it comes to speeding up the administrative procedures in relation to the investment plan.

The firm is currently in a very advanced stage in the decision-making process for this move, the announcement says, adding that Profine Energy will now prepare a memorandum to formalise its interest.

At present, the company is in the process of establishing the local subsidiary that will engage in the development and construction of solar parks in Bulgaria. The media release did not give details about any specific projects.

(EUR 1.0 = USD 0.999)

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