Profine Energy Bulgaria, a local subsidiary of German company Profine Energy, announced the project for Bulgaria’s first floating solar power plant.
CEO of Profine Energy Bulgaria Krum Vasilev said that the power plant will be built at the Ogosta reservoir in northeastern Bulgaria. The construction is expected to start in about two years and to take between a year and a half and two years, which means that the facility should be commissioned within four years.
According to him, installed capacity of the plant was planned at between 500 and 800 MW, with estimated annual electricity generation of 1,350 GWh. The investment should roughly be 1 million euros per 1 MW: 500 million euros for the 500 MW capacity or 800 million euros for the 800 MW capacity. The power plant will cover some 850 hectares of the total 2,000 hectares of the reservoir.
Profine Energy has already built similar floating power plants in Germany, Austria, the Netherlands and Spain.
Profine, which produces PVC profiles for windows and doors, established Profine Energy in 2022 as a joint venture with German Wirth Group, with the aim of developing solar, wind and biomass projects.