The largest renewable energy project in Bulgaria’s sector, the “Migliz” photovoltaic plant with a capacity of 160 MW, spread over 1,300 decares in the Migliz municipality at the foot of the Stara Planina, is set to begin operations soon. The project involved over 300 people during construction and will employ around 20 after commissioning. The €100 million investment was funded through a combination of its own funds and a loan provided by leading Bulgarian and Austrian financial institutions. “360 Energy” is the main investor, working in partnership with major shareholders in Eurohold Bulgaria. The main contractor is the Bulgarian-German solar project integrator “Sonotech”. The project is implemented by the purpose-built company “Belozem Solar Park 2”, which has a 30-year lease on municipal land. The park is expected to enhance electricity quality in the region via added infrastructure. The owners plan to expand with energy storage batteries within the next 18 months, further optimizing efficiency.
"€100 Million Investment: Moglitz Photovoltaic Park Set to Kick off in Early 2025"
At an estimated cost of €100 million, the Moglitz Photovoltaic Park is set to become one of the largest solar energy projects in the region, with commercial operations expected to commence in early 2025. The project, located in the municipality of Moglitz, promises not only to contribute significantly to the country’s renewable energy targets but also to create substantial economic benefits and jobs.
Project Overview
The Moglitz Photovoltaic Park will span approximately 200 hectares, housing a robust installation of around 400,000 solar panels. The plant’s capacity is projected to reach 700 MWp, capable of generating approximately 800 GWh of electricity annually. This significant output equates to enough clean energy to power around 200,000 average households, substantially reducing the region’s carbon footprint.
Funding and Stakeholders
The €100 million investment is financed through a consortium of international investors, including leading renewable energy funds and financial institutions. attend will play a crucial role in the project’s development, construction, and operation. These stakeholders bring substantial expertise and resources to the table, ensuring the project’s success and sustainability.
Economic Benefits and Job Creation
The construction phase of the Moglitz Photovoltaic Park is expected to create around 500 jobs, stimulating local economic growth and supporting businesses in the region. Once operational, the plant will require a smaller but dedicated team to oversee its performance and maintenance, providing long-term employment opportunities.
Moreover, the project’s construction and operation will inject significant funds into the local economy, contributing to the development of supporting infrastructure and services. This not only promotes regional economic growth but also enhances the quality of life for local communities.
Environmental Impact
The Moglitz Photovoltaic Park is designed to have minimal environmental impact. Using state-of-the-art solar panels and tracking systems, the plant will maximize energy output while occupying a relatively small area. Additionally, the project’s implementation plan includes measures to mitigate potential impacts on local flora and fauna, preserving the biodiversity of the region.
Next Steps
With financing secured, the project is now proceeding with the necessary permits and approvals. Upon receiving the green light, the construction phase is expected to begin in late 2024, with the plant fully operational by the first quarter of 2025.
The Moglitz Photovoltaic Park exemplifies Europe’s ongoing commitment to transitioning to a low-carbon economy. As one of the largest solar energy projects in the region, it marks a significant stride towards meeting the European Union’s 2030 renewable energy targets. With the project’s substantial economic and environmental benefits, it is set to become a beacon of sustainable development in the region.
