Warwick, R.I.-based Clean Energy and Power Inc. (CEP) has entered into exclusive negotiations to acquire a controlling stake in a 3 MW solar project in Bulgaria.
CEP says it is taking the opportunity to gain an early entrance to the Bulgarian marketplace for these energy projects. The recent announcement by Bulgaria and the European Energy Commission to approve the details of a solar program, which will last for the next several years, includes a 25-year guaranteed off-take price (purchase price by the utility) in the amount of $0.56/kWh.
‘The boom in European solar development is continuing, and the next country to lead these efforts is Bulgaria,’ says Erwin Vahlsing Jr., CEO of CEP. ‘We feel it is of paramount importance for us to be first on the ground as we continue our solar development efforts in Europe.’
SOURCE: Clean Energy And Power Inc.