November 8 (SeeNews) - German company Profine Energy is interested in investing over 1 billion euro ($999.8 million) in solar energy in Bulgaria, which would be the largest one-time investment in the country so far, the Bulgarian economy ministry said.
The German company is in a very advanced stage of making a decision to invest in northwestern Bulgaria, the ministry said in a press statement on Monday after a meeting between caretaker economy minister Nikola Stoyanov and Profine Energy’s management.
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According to the statement, the German company is preparing a memorandum to express its intention in writing and is establishing a local subsidiary, which will develop and build photovoltaic plants.
Profine Energy was set up in October as a joint venture between Profine Group and Wirth Group, two German companies interested in investing in renewable energy generation.
Profine Group produces PVC profiles for windows and residential doors, as well as shutter systems and PVC sheets.
The company generates consolidated revenue of about 900 million euro annually, the ministry said, without specifying for what year.
It employs over 3,000 people across 23 countries.
($ = 0.9823 euro)