Vancouver, Canada-based P2 Solar has revealed that it has signed a binding agreement for the construction and ownership of a 4.95MW solar farm in the Vratsa Province of north-west Bulgaria. The company has assigned a 20-year gross revenue of €31 million to the project with a net cash flow of €13.6 million.
The project, which comes with secured land, required permits and licences, also has a 20-year PPA. It will be built on a 15.1 hectare site, at an altitude of 266m above sea level.
Raj-Mohinder Gurm, CEO of P2 Solar said, “We have a stellar team working through the process of finalizing each of the steps in procuring the various components of this and other PV projects.”
Bulgaria’s renewables incentive program is proving quite attractive to investors, and the country is now regarded as one of Europe’s most lucrative solar energy markets.
