The US company AES Solar (through its Bulgarian arm AES Solar Bulgaria) has started construction of a 20.6MW photovoltaic park near the Danube city of Silistra in Bulgaria. The park will be funded with EUR 48 million from Societe Generale Expressbank, the bank announced on Wednesday.
“We managed to create a suitable model for providing project financing in various sectors of the economy”, commented Maria Ruseva, CEO of Societe Generale Expressbank. “This allows us to be useful in the context of the EU strategy for the production of energy from renewable sources.”
Boyanov & Co. advised Societe Generale Expressbank on the financing of the solar park. Last year Boyanov & Co. advised Societe Generale Expressbank on the financing of another solar park by AES Bulgaria in Bulgaria.