Southeastern European telco firm United Group has invested €120 million ($125.1 million) to develop four renewable energy projects in Bulgaria.
The investment will support the development of three solar power plants and a wind farm in Bulgaria. The projects will have a combined capacity of 124MW.
The first solar plant, located near Stara Zagora, reached operational status in September 2024. It has a capacity of 3MW and an annual production capacity of 4.3MWh.
The other two projects are in development and will be built near Kyustendil and Vidin. The Vidin plant, which will have an annual production capacity of 57GWh, is the largest solar plant planned by the group.
The Kremena Onshore Wind Farm, which will comprise 15 wind turbines, is under development in north-eastern Bulgaria. It will be located near the Black Sea.
Victoriya Boklag, CEO of United Group, commented on the investment: "By harnessing the power of the sun and wind, we're not just powering our operations; we're powering change. United Group is proud to lead the way in producing green electricity."
United says that the projects will supply 160 percent of the electricity required for the Group's Bulgarian operations and meet 65 percent of the Group's total electricity consumption by 2027.
In addition, the project will include a battery energy storage system (BESS) capable of storing 1.5 times the peak energy production. All four projects will utilize industrial land and be integrated with BESS.
Founded in 2007, United Group is an alternative telco provider serving nine countries in South-eastern Europe. It operates several subsidiaries in these countries.
