Bulgaria's Capman Green Energy Fund unit acquires two solar parks

Bulgaria's Capman Green Energy Fund [BUL:C4P] said on Tuesday that its unit Solar Logistic, previously known as Sevko Bulgaria, has acquired two solar parks with installed capacity of 197.4 kW each for a total of 684,000 euro ($766,000).

Solar Logistic acquired 100% of solar park operators Solar Park Letnica and Balkanenergy for 341,911 euro and 341,850 euro, respectively, Capman Green Energy Fund said in an interim financial statement.

According to data from the commercial register, both Solar Park Letnica and Balkanenergy were previously fully owned by local company Industrial Park - Letnica.

In January, Solar Logistic placed an eight-year 25 million levs bond, saying it is planning to invest the proceeds in the development of renewable energy projects and the acquisition of new plots of land suitable for construction of solar parks and biomass plants.

In December 2018, Capman Green Energy Fund acquired 100% of Sevko Bulgaria from local diversified group Holding Nov Vek [BUL:6N3] for an undisclosed price. Sevko Bulgaria was subsequently renamed to Solar Logistic.

At the time, Capman Green Energy Fund said it intends to build a solar park on property owned by Sevko Bulgaria in the town of Sevlievo, in northern Bulgaria.

($ = 0.8934 euro)

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