News

Bosch sells five solar parks for EUR 10 million

Published

July 12, 2015

Comments

0

Share

Published:

July 12, 2015

Comments:

0

Share

Businessman Nedko Mladenov’s company BCI bought five photovoltaic parks near Kazanlak in Bulgaria from Bosch Solar Energy for EUR 10 million, Capital.bg reported. He is the head of BCI Kazanlak Holding, which used to manage the facilities. The solar power plants of 4.98 MW each have been connected to the grid since July 2, 2012. The deal was concluded in April, with a EUR 10 million loan from Investbank, even though the value of the shares was symbolic, documents filed to the Commercial Register show, the article says.

Original intention of Bosch Solar Energy is to participate only as a subcontractor of solar energy projects in Bulgaria, according to statements of the company’s representatives to the media. However, it financed the five projects and has been trying to sell them since they were constructed. The company manufactures solar panels and has offices in Australia, India and the United States. Acquired businesses had an annual turnover of just over BGN 8 million (EUR 4.09 million) in 2013, documents show. Assets are estimated at EUR 35.81 million.

Transactions in the sector are rare, because the environment is very uncertain, the article said.

Related Articles

INA hydrogen bimethane ivicom biogest

INA contracts installation of hydrogen, biomethane facilities

17 April 2024 - The Croatian firm will install a green hydrogen plant at its Rijeka Refinery and a biomethane production facility in Sisak

Belgrade Energy Forum greets top officials global investors renewables

Belgrade Energy Forum greets top officials, global investors in renewables

17 April 2024 - The sponsor roster for Belgrade Energy Forum 2024 is expanding with some of the most prominent global names in the renewables realm

Governments firms pledge support for solar manufacturing EU Solar Charter

Governments, firms pledge support for solar manufacturing with EU Solar Charter

17 April 2024 - A hundred representatives of the European solar sector and energy ministers from 23 member states have signed the EU Solar Charter

Federation of BiH auctions solar wind energy community

Federation of BiH drafts 2025-2030 renewable energy auctions plan

16 April 2024 - The incentives plan was published by the Federal Ministry of Energy, Mining and Industry in its draft decree on quotas for renewables