April 21 (SeeNews) - Bulgaria's Renewable Energy Insurance Broker (REIB) has attracted an equity investment from Czech Renomia Group, ahead of potential new insurance contracts for solar power plants in Central and Eastern Europe (CEE), REIB managing director Delyan Iliev told SeeNews.
Iliev retains the remaining significant shareholding in REIB, he told SeeNews in a telephone interview on Thursday, declining to elaborate further on the parameters of the transaction.
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In Romania, where REIB has been present for over a decade, it holds more than 20% share of the local market in installed and under-construction photovoltaic (PV) projects. The company is currently in talks to insure a further 101 MW of solar plants, with the deal likely to be concluded in the second quarter of this year, Iliev said.
REIB is also active in North Macedonia as well as in Serbia, where it is currently in negotiations on an insurance transaction for solar PV plants with a total capacity of about 200 MWp, the managing director said.
In March alone, REIB insured over 600 MWp of solar power installations in Bulgaria, both operational and under construction, he added. The company offers insurance services for over 1 GW of solar generation capacity in its home market.
In a separate statement, Renomia Group said the deal will significantly strengthen its renewable insurance capacity in the CEE region.