Bulgarian Development Bank to provide financing for small PV plants

State-owned Bulgarian Development Bank (BDB) said on Thursday that it will finance the construction of photovoltaic (PV) plants for the needs of local businesses.

The new financial product will be launched in response to the growing concern of companies about soaring electricity prices for industrial consumers in Bulgaria and Europe, as well as to the increased electricity demand, the BDB said in a statement.

The bank will provide 15-year loans for the construction of PV plants with capacity of less than 1 MW. The loans can cover up to 95% of the value of the solar power plants which will help companies significantly cut their energy costs, the bank said.

Companies eligible for financing are small and medium-sized enterprises (SMEs). The loans can benefit PV plants that serve the own electricity needs of the respective business or solar power systems selling electricity to consumers.

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