Bulgaria Solar Photovoltaic (PV) Power Market: Outlook 2022 - 2031 by Renewable Market Watch with Trends, Forecasts, Investments, Opportunities, Analysis

/LONDON, May 18, 2022, 9:15 BST, Renewable Market Watch™/

Development of operational solar PV power plants in Bulgaria started with very moderate steps in 2007 but progressed at fast pace after the second half of 2010. At the end of 2021, Bulgaria's cumulative installed solar PV capacity reached 1,186 MW.  Several large-scale solar photovoltaic (PV) projects with a capacity above 50 MW have been announced in Bulgaria after 2018, and these projects will be built between 2022 and 2024. In the last few years, Bulgaria has been the focus of the investors’ interest. Furthermore, Bulgaria quickly has to diminish its dependency on Russian energy imports, and solar power is one of the best renewable energy alternatives.

The political stability and predictability due to the NATO membership and the EU accession, the stable economic perspective and the growing credit rating of the country and its institutions were only some of the elements attracting the investors’ interest. External investors have been attracted by rapidly developing national industry, highly skilled workforce and significant new market.

Bulgaria is situated in the South-Eastern part of the Balkan Peninsula. The country's population is 7.284 million people, and its territory spans 110,912 sq.km. Bulgaria borders Greece and Turkey to the South, and North Macedonia and Serbia - to the West. The Danube River to the North is our natural border with Romania; the Black Sea is situated to the East. Bulgaria is in the centre of a region, which is undergoing a dynamic transition. Within 500 km of our capital city, Sofia (1.4 million people), a population of over 90 million lives in 9 countries that have recently embarked on their way to a market economy. This is a large market with rapidly increasing purchasing power.

For the first time after a decade, a 58 MW new large-scale solar photovoltaic power plant was connected to the grid in April 2022, with the expectation to be increased to 150 MW.

By a majority in the city hall of Haskovo, the local parliamentarians accepted the report, with which they gave prior consent to Enery Development for a relinquished right to build the large-scale solar photovoltaic (PV) power plant with an indicative installed capacity of 400 MWp. Also, the Municipal Council gives prior consent to change the purpose of the lands representing the public municipal property for the construction of a solar photovoltaic (PV) power plant and their transformation from municipal public to municipal, private property. The Municipal Council agrees to prepare a detailed urban plan for the properties in question, the development of which is financed by Enery Development.

In March 2020, the new solar photovoltaic (PV) power plant was announced by the mayor of Dimitrovgrad municipality and the Enery Development Gmbh. The solar power plant will be built on a vacant terrain with a total area of about 650 acres. It is expected to have an installed capacity of 65 MW, and produce over 90,000,000 kWh of clean energy annually. This saves about 120,000 tonnes of carbon dioxide from being released into the atmosphere.

Furthermore, on the 18th of September 2020, Enery Development finalized the transaction for the acquisition of the largest grid-connected solar photovoltaic power plant in Bulgaria 60.4 MWp, located in Karadzhalovo in South Bulgaria. This makes Enery Development a top ten player at the Bulgarian solar power market. In 2020, Enery Development established a joint venture with former executive developers of Sun Edison and Juwi that is pursuing selected large scale solar projects in the region.

The report provides a complete picture of the market situation, dynamics, current issues and future prospects. You will find more than 120 pages of valuable information in this unique in-depth analysis of the Bulgarian photovoltaic market and will receive an overview of how COVID-19 (Coronavirus) recovery and the war in Ukraine will impact it. This report brings clear and concise insights to help investors in their decision-making process with comprehensive market data. As 2020 and 2021 were challenging years for the photovoltaic industry, the time for making the right decisions during 2022 and the next few years is limited. The fast-changing market environment requires relevant and accurate information. For your convenience, we offer the opportunity for orders with customized report content.  Reasons to buy this market report are, but are not limited to:

• Overview of the Bulgarian political and economic environment
• Solar resource potential in Bulgaria
• Financial Model and Analysis of 50 MW Photovoltaic (Solar PV) Power Plant investment in Bulgaria (IRR, WACC, Payback, NPV, Cash Flow, etc.)
• Over 55 charts, tables and maps
• Overview of Bulgarian photovoltaic market development 2011 ÷ 2031
• Grid-connected solar photovoltaic power installations in Bulgaria for 2021/2022
• Future market trends and planned photovoltaic projects for 2022 ÷ 2031
• Market prices of fully permitted and operational photovoltaic projects
• Polish legal and energy regulatory framework for renewable projects
• Key companies and competitive landscape in the photovoltaic sector
• Review of most relevant financing and supporting incentives
• SWOT Analysis (detailed in 5 pages)

The full contact details of solar project owners and developers and relevant information about the Bulgarian solar PV market you may receive with a 1-year subscription for Bulgaria Solar Photovoltaic (PV) Power Market Outlook 2022÷2031. Furthermore, you will receive 4 quarterly updates within the subscription period.

To download the executive summary brochure with sample pages, please access from here: Bulgaria Solar Photovoltaic (PV) Power Market Outlook - Sample

For a better understanding of benefits from using our reports, you may read here: Benefit List - Reports of Renewable Market Watch 

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Renewable Market Watch™ is delivering strategic insight into emerging renewable energy markets through its experienced research team and cutting-edge predictive analytics data platform. We partner with our customers to provide research, data and consulting reports in areas appropriate to their specific requirements. Our primary focus is emerging renewable energy markets of Asia Countries, Balkan countries, Central and Eastern Europe, CIS states (former the Soviet Union), LATAM countries and MENA countries. For more information about Renewable Market Watch™, please visit:
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