Greek renewables firm Terna Energy, a subsidiary of Emirati state-owned developer Masdar, has invested in a 130MW solar PV plant in Bulgaria.
The investment will involve the design, procurement and construction of a solar plant in the eastern province of Burgas, in Vratitsa. The project will be built by Terna S.A., the construction arm of the group, and will include the construction of a new 33/110 kV substation.
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Although the company already has two operational wind farms, this project would increase its solar PV presence in Bulgaria. Overall, it would also increase the company’s solar PV portfolio, for which it only has 8.5MW of operational PV in its home country of Greece, alongside a pipeline of more than 2GW across several countries.
The company aims to reach 6GW of operational renewable energy capacity plants by 2029.
Masdar acquired a majority stake in Terna Energy last November, with the acquisition of 70% of the company’s share.
