Bulgaria’s Solarpro Holding wraps up 1.0 MW solar project in Macedonia

Bulgarian provider of products and services for the solar industry Solarpro Holding [BUL:0S8] said on Thursday it has completed the construction works on its first solar park project in Macedonia.

Cracking the neighboring Macedonian market is part of Solarpro Holding's wider push for a regional footprint in a bid to temper the business risk associated with government support for renewables.

The 1.0 megawatt (MW) solar park, located in the Macedonian city of Bitola, was officially put into operation on November 20, the company, part of Bulgarian financial group Alfa Finance Holding [BUL:X26A], said in a filing to the Sofia bourse.

The investor in the project is Macedonian company Torpedo Solar GT with Solarpro Holding responsible for the design, construction, operation and maintenance of the facility. The funding was provided by Skopje-based Capital Bank, also part of Alfa Finance Holding.

Work on the project started in mid-2012 by the namesake Macedonian arm of Solarpro Holding which was registered in early March.

As of June, Solarpro Holding (www.solarpro.bg) had a portfolio on its home market comprising a total of 32 solar parks in various stages of completion with total nominal capacity of almost 100 megawatts-peak. The company is controlled indirectly by Alfa Finance Holding with a 58.9% stake alongside local company Solar Ventures with an 11.6% stake.

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