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Italian integrated security systems provider Urmet Engineering is planning on taking advantage of Bulgaria’s newly implemented feed-in tariff policy with a 3MW plant destined for the south of the country. According to PHOTON, the company intends to invest €6.5 million into the project, due to be built in the municipality of Plovdi.
The Bulgarian government approved its renewable energy legislation on March 28, with approval published in its official journal on April 10.
A spokesperson for the Bulgarian Photovoltaic Association (BPVA) told PHOTON that under the new regulations, power plant operators will not begin receiving the FiT as soon as they receive the project completion certification, as was previously the case. FiTs will now only be paid out once the power plant is connected to the grid. The new regulations also require Bulgarian electricity system operator EAD to publish details about newly installed PV capacity on a semi-annual basis. Bulgarian FiTs currently range from €0.309 kWh for rooftop systems to €0.248 per kWh for ground-mounted systems above 200kW.
Effective July 1, rates will be reduced and revisions to the rates will be made biannually. The country is aiming for 16% of its electricity demand to be generated from renewables, when it will commence awarding contracts to new PV installations of up to 30kW.