Portanero Invest and KGAL to acquire 7 solar projects from Samsung C&T
Portanero Invest and KGAL ESPF 4 Holding were allowed by the government of Bulgaria, the Commission for Protection of Competition, to acquire the Samsung C&T Corporation's 7 photovoltaic power stations with combined installed capacity of 42.99 MW. The plants, all located near the city of Pleven, constitute 4.12% of all installed PV capacity in the country. Portanero Invest is based on Czechia while KGAL ESPF 4 Holding is based on Luxembourg.
The 7 solar parks are the following: Agriplam, Veselino Energy, Ecoenergy Solar, Ecosolar, Manageproject, Solar Park and Fishtrade. In 2018, these 7 solar parks had a combined turnover of 25.1 million levs ($14.6 million/12.8 million euro).
The Commission for Protection of Competition stated that the market share of the Portanero Invest, KGAL and the 7 solar plants, if combined, does not exceed 5% in terms of capacity and output of PV.
KGAL ESPF 4 Holding and Portanero Invest agreed together to acquire 60% stake the project.
Micronix Group, owner of the Portanero Invest, controls 2.36 MW and 2.88 MW solar parks and 1.5 MW biomass project near the city of Vidin, in northwestern Bulgaria. In 2018, these plants generated 4.8 million levs.
Country updates
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November 05, 2018
Akuo Energy completes acquisition of 63 MW hydropower portfolio in Bulgaria
Akuo Energy has completed the acquisition of CHB, a portfolio of four active hydroelectric plants in Bulgaria with an installed capacity of 63 MW. The portfolio was purchased from EDF Renewables....
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September 17, 2018
Inercom Bulgaria divests PV assets to win approval for deal with CEZ
The owner of Bulgaria’s family-owned Inercom Group, Ginka Varbakova, has divested several assets in photovoltaic power operations in order to save the deal with Czech CEZ'...
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March 09, 2018
The government of Bulgaria has requested a controlling stake in the assets to be sold, given the doubt across the political and public sphere of Inercom's ability to handle them
The government of Bulgaria has requested a controlling stake in the assets to be sold, given the doubt across the political and public sphere of Inercom's ability to handle them. CEZ has announced that it has agreed with Inercom to study the possibility of the Bulgarian state taking a stake in the assets
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March 01, 2018
Black Toro Capital has launched the stakes acquisition agreement with Ebioss Energy
Black Toro Capital has launched the stakes acquisition agreement with Ebioss Energy. The two companies are expected to confirm the deal within 90 days
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February 26, 2018
The Energy Minister of Bulgaria has resigned due to her links with Inercom
The Energy Minister of Bulgaria has resigned due to her links with Inercom. The Prime Minister has stated publicly that the government did not influence the deal in any way, and that the country’s energy, financial and anti-trust regulators, as well as the intelligence services, would look closely into the deal, including the origin of the funds for the transaction
