[size=75:dopv7ijg]novinite 21 January 2010

Chinese Companies to Build Solar Plant in Bulgaria

Two Chinese companies, Polar Photovoltaics and Wiscom, have proposed to invest USD 7 M to build a 2 MW Photovoltaic plant near Ihtiman, 40 km south from Bulgarian capital Sofia.

The two companies and their Bulgarian partner SunSERVICE presented their proposal to the Ihtiman municipality on Wednesday.

"
It is our first investment in a European Union country and we carefully selected the best place for it,"
Jim Su, Chief Marketing Officer at Polar said.

"
Our region has high unemployment rate, so investors here are exempt from profit tax,"
said Margarita Petkova, Mayor of Ihtiman.

Chinese investors and their Bulgarian partner expect to sign a contract with the local authorities in the next few days and to build the plant in seven months.

"
We decided to invest in Bulgaria, in Ihtiman municipality in order to prove our ability to deliver the main product, the PV- generator based on unique Chinese technology together with a proper financing scheme, so we can have an excellent operating PV- power plant under challenging conditions,"
Xu Bing from Polar-Wiscom told reporters.