BayernLB finances three solar parks in Bulgaria
16 September 2011BayernLB, the second largest landesbank in
MKB Unionbank supports BayernLB in all Bulgarian issues of the deal. The owner of the parks is
All solar parks financed by the BayernLB are completed in full and have obtained permits of use. They are located in Gabarevo, Pavel Banya (2.6 Megawatt Peak) and Chelnik,
One of the highlights in the activity of MKB Unionbank is to support green energy enhancement projects in
“A special priority for us is to support production of energy from renewable sources. As an institution which pro-actively participates and develops initiatives aimed at reducing the harmful effects on nature, support of green energy enhancement projects is a way to show that business can go successfully hand in hand with the eco idea and reasonable consumption”, said Maria Ilieva, Chief Executive Officer of MKB Unionbank. “
Recently, MKB Unionbank has financed a new solar park of 5 MWp in the
For its overall environmental protection activity MKB Unionbank has been recently awarded a green company certificate among financial institutions at the competition “The Greenest Companies in Bulgaria 2010”. Also, the Bank received the prize “EBRD Energy Efficiency Awards Bulgaria 2010” by the European Bank for Reconstruction and Development for its consistent and successful policy of financing energy efficiency projects and its commitment to a sustainable green energy development.
Additional data
- At present the Bulgarian energy sector is dominated by the production of energy from thermal power plants, their share making up 53.1% of total installed capacity, followed by nuclear power with 17.8% share. The two sources of energy generate about 90% of the electricity produced in the country.
- At present electricity from hydro-electric plants holds a key place in renewable energy in
- The country’s potential for wind plants is not high, the best areas for installation of such capacities being very limited. At the end of 2010, installed capacities totalled 465 MW.
- The country has a serious potential for developing solar parks and the average solstice reaches 2150 hours per year, i.e. 49% of the theoretical maximum. At this stage, installed capacities are few: 21.4 MW alone. After 2008, however, a strong interest in solar parks development has arisen.
- The market for biomass fuels is not well-developed either, but a serious potential exists, mainly related to the country’s obligation to use bio-component fuels. Installed capacities allow production of 300 000 tonnes per year, but now they are being used to generate only 40 000 tonnes.