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Toshiba Confirms Investment in Bulgarian Solar Park

Date: 12.08.2011

Japanese company Toshiba intends to continue its investments in the construction of a 10 MW solar park near the Southeastern Bulgarian town of Yambol.

Toshiba representatives have confirmed their commitment during a meeting with Yambol's Mayor, Georgi Slavov, the Bulgarian National Radio has informed.

The photovoltaic park will cost EUR 37.6 M and will be able to provide electricity for 2 000 households.

Instead of owning the solar park, Toshiba plans to sell it to local funds and other investors.

In January, Toshiba has declared it will pursue the project on its own, thus dispeling a report of Japan's Nikkei business daily from last week that the corporation planned to set up a joint venture with Tokyo Electric Power and the Japanese government to build one of the world's largest solar power stations worth USD 1.2 B.

Toshiba's solar park investment in Bulgaria is part of a plan to develop similar projects in Europe and North America.

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