Photovoltaic Tervel 1 to plough €25 million into Bulgaria’s solar future

Austrian company Photovoltaic Tervel 1 has announced plans to invest €25 million (approximately $34.7 million) in the construction of a solar farm in the north east of Bulgaria. With plans to go on-stream sometime next year, the 30-hectare site will have a generation capacity of 5MW per annum, according to the report in SeeNews.

The park will bring the country another step closer to reaching its target of sourcing 16% of its energy needs from renewables by 2020, a figure that is currently less than 10%.

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