When will Bulgaria's largest solar power plant be built?

Works on the photovoltaic plant, developed by Eurohold, started in September. The construction of Bulgaria’s largest solar power plant is due to be completed by spring 2023. The facility will generate green electricity with a peak capacity of 124 MW. The project for another segment, of 50 MW, is under development.

What percentage of Bulgaria's electricity is generated by solar power?

Solar power generated 12% of Bulgaria’s electricity in 2023. By the end of 2020 about 1 GW of solar PV had been installed. It has been estimated that there is potential for at least another 4 GW by 2030. On March 13, 2023, peak photovoltaics power was 30% of Bulgaria electricity generation.

How big is Bulgaria's solar power?

In a matter of months, Bulgaria’s total solar power capacity is set to exceed 3 GW, compared to just 1.3 GW at the end of 2021. The lineup in the list of the largest photovoltaic plants is changing almost every week as major facilities come online, and there is more in the pipeline.

What will Bulgaria's new solar power plant do?

With a nominal output of 124 megawatts peak (MWp), the Verila solar power plant will make a significant contribution to Bulgaria’s green electricity mix from spring 2023 onwards. Built by SUNOTEC, the new solar park will generate energy equivalent to 12 percent of the current total output of all PV plants in the country.

Is solar PV a good investment in Bulgaria?

It is now economic for commercial and industrial customers in Bulgaria to invest in solar PV projects, without subsidies and without government incentives. As a result, the market for distributed solar PV in Bulgaria is starting to grow.

Why is the market for distributed solar PV growing in Bulgaria?

As a result, the market for distributed solar PV in Bulgaria is starting to grow. Remarkably, the growth of the market is occurring despite the lack of a clear policy and regulatory framework, and in spite of the presence of many administrative and tax-related barriers.