United Group enters renewables market with investment in Bulgaria

Telecommunications and media company United Group has announced an initial investment of EUR 120 million in the production of green electricity in Bulgaria. Victoriya Boklag, the CEO, has said that the company is “powering change.”

United Group said its investment will finance the construction of three solar power plants and a wind farm in Bulgaria.

By 2027, these projects will supply 160% of the electricity needed for the group’s Bulgarian operations and meet 65% of its total electricity consumption. The investment will also reduce CO2 emissions by 120,000 tonnes annually, the company said.

The projects will have a combined capacity of 124 MW, generating 310,000 MWh of electricity annually – enough to power more than 60,000 households. Additionally, the initiative includes a state-of-the-art battery system capable of storing 1.5 times the peak energy output, according to the company.

The first solar plant is already operational

Victoriya Boklag, the CEO of United Group, has said this investment is more than a business decision – it’s “a promise to future generations.” “By harnessing the power of the sun and wind, we’re not just powering our operations; we’re powering change,” she stressed.

The first solar plant, near Stara Zagora, is already operational. Two more photovoltaic facilities will be built near Kyustendil and Vidin. The wind farm will be situated in northeast Bulgaria.

Projects are utilizing repurposed industrial land

According to United Group, all projects are strategically designed to minimize the environmental impact by utilizing repurposed industrial land and integrating advanced energy storage systems.

Grozdan Karadjov, Bulgaria’s Deputy Prime Minister and Minister of Transport and Communications, recalled that the share of green energy in the European Union’s overall energy mix has tripled over the past 20 years.

However, the share of renewable sources in the country’s final energy consumption is still less than a quarter, he stressed. Therefore, in his words, new investments are crucial.

The company has set a goal to achieve net-zero emissions across its entire value chain by 2040.