December 20 (SeeNews) - German company Profine Energy signed a letter of intent to invest over 1 billion euro ($1.06 million) in the construction of a floating solar plant with a capacity of between 500 and 1,500 mWp on the Ogosta reservoir in Northwestern Bulgaria, the Bulgarian economy ministry said on Tuesday.
Along with the construction of the solar plant, the investor intends to repair the reservoir wall, hiring local contractors for the job, the ministry said in a press release.
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Profine Energy was created in October as a joint venture between Profine Group and Wirth Group, German companies interested in investing in renewable energy.