Moncada has announced its plans to construct a 16MW PV plant in Bulgaria with the help of UniCredit. Electra Volt Trade will begin building the plant in June 2012 using thin-film modules and the completed project will be controlled by Moncada Energy Bulgaria. UniCredit provides financing for the project with a total loan of €28.8 million, of which €23.5 million is a short term loan and €5.3 million is VAT.
Salvatore Moncada, Moncada Energy’s CEO, explained: “This project, together with the pipeline of 7 PV projects amounting to a total of 520MWp to be realized between 2012 and 2016, is an important step towards the internationalization of Moncada Energy Group which has all its production lines in Italy and has invested €100 million in the thin film technology in a plant in Sicily. It represents the second stage in the process to use the renewable energy technology produced in Italy abroad. Our goal is to maintain a primary role in the Italian renewable energy industry particularly in the south, by maintaining the industrial production of the technology and reducing costs through technological advances.”