CEP negotiating acquisition of 3 MW solar project in Bulgaria

The company says it is taking the opportunity to gain early entrance to the Bulgarian market place.

The recent announcement by Bulgaria and European Energy Commission to approve the details of a solar program, which will last for the next few years, includes a 25-year guaranteed off-take price (purchase price by the utility) in the amount of USD$0.56 per kWh.

"The boom in European solar development is continuing and the next country to lead these efforts is Bulgaria. We feel it is of paramount importance for us to be first on the ground as we continue our solar development efforts in Europe," said Mr. Erwin Vahlsing, Jr., CEO of the company.