German firm Profine Energy GmbH said Tuesday it has successfully completed the first phase of an economic and technical assessment for a potential floating photovoltaic (PV) park at Ogosta dam in northwestern Bulgaria.
The company, a joint venture between Profine Group and Wirth Gruppe, added it plans to build a factory for floating components near the city of Montana, investing over BGN 50 million (USD 28.2m/EUR 25.6m).
Profine Energy further intends to invest in the region's development and protecting nature and aquaculture in the dam.
The entire investment, including the solar park and repairs of the dam wall, could reach EUR 1 billion, the company estimates.
"The results of the initial assessment of the project are positive," said Krum Vasilev, a Profine Energy representative for Bulgaria, adding that the investment could boost the local economy and create jobs in this northwestern region of Bulgaria.
According to a previous announcement, the floating solar park could have a capacity of between 500 MW and 1,500 MW.
