UEG Clean Energy, a Cyprus-registered affiliate of the Chinese oil and gas exploration and production company United Energy Group (UEG), has entered into an agreement to acquire the Bulgarian company Green Profit, including the 180 MW Polyanovo solar project and the 70 MW Simeonovgrad solar project, for a purchase price of €37.5m. The transaction covers the construction rights and the easement rights over several land plots located in the Haskovo region of Bulgaria, and the permits to develop the two projects, together with the respective ancillary infrastructures and connection facilities on the said land plots. UEG intends to launch the construction of the two plants following the competition of the transaction and to commission them in 2025.
Bulgaria has set a target to reach 27% of renewables in final energy consumption by 2030, including 30% for electricity, 43% for heating and cooling, and 14% for transport. The country will have to add 2.65 GW of renewables to meet these targets, mainly solar (2.17 GW).
Interested in Power Plants?
Enerdata has developed a market research service to screen, monitor and analyse the development of power generation assets.
Power Plant Tracker offers an interactive database and a powerful search engine covering power plants worldwide – including both installed and planned capacities for renewables and fossil fuels.