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%.