Bulgaria, BDB announced that that will finance the construction of small-scale solar power plants for the needs of local businesses

, SEE Energy News

Bulgarian Development Bank (BDB) announced that that will finance the construction of small-scale solar power plants for the needs of local businesses.

The statement from the bank said that the new financial product will be launched in response to the growing concern of companies about soaring electricity prices for industrial consumers in Bulgaria and Europe, as well as to the increased electricity demand.

The bank will provide 15-year loans for the construction of solar power plants with capacity of less than 1 MW. The loans can cover up to 95 % of the value of the solar power plants which will help companies significantly cut their energy costs.

Companies eligible for financing are small and medium-sized enterprises. The loans can be obtained for solar power plants which will produce electricity for the companies’ own needs or for the sale to other consumers.