Blatets Solar Project

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EVN (Naturkraft) [Austria] invested EUR3.0 million (US$4.17 million) in the construction of a 836.7 kilowatt-peak (KWp) photovoltaic (PV) power plant near Blatets in Sliven municipality in eastern Bulgaria. The project was developed according to a license scheme on a build, own, and operate basis (BOO). Electricity generated by the project was to be supplied to the South East distribution grid, which was majority-owned and operated by EVN Bulgaria. In mid-December 2009, EVN began test operating the 178.2-kWp first stage of the 836.7 kWp project. Another two groups of PV elements remain to be commissioned, after which the plant will commence commercial operations. There were no reports on how the project was financed; therefore the date of test operations was used as a proxy for the financial closure date.