The investment will fund the development of three solar power plants and a wind farm with a combined capacity of 124MW.
Southeastern Europe-based telecommunications and media company United Group has made a significant foray into green electricity production with a €120m ($124.6m) investment in Bulgaria.
The initiative is expected to supply 160% of the electricity required for United Group’s operations in Bulgaria and meet 65% of its total electricity needs by 2027.
It will cut 120,000t of CO? emissions annually from the Bulgarian electricity grid.
United Group CEO Victoriya Boklag stated: “This investment is more than a business decision – it’s a promise to future generations. By harnessing the power of the sun and wind, we’re not just powering our operations – we’re powering change.
“United Group is proud to lead the way in producing green electricity. Together, we’re building a brighter, greener future for Bulgaria and Southeastern Europe.”
The investment will fund the development of three solar power plants and a wind farm with a combined capacity of 124MW.
These projects will generate 310,000 megawatt hours per year, sufficient to power more than 60,000 households.
They also include a battery system for storing up to 1.5 times the peak energy production.
Since entering Bulgaria in 2020, United Group has invested €2.5bn ($2.59bn) in advanced technology, including the nation’s premier 10 GIGA optical network, its largest 5G commercial network and the first unlimited 5G mobile plans.
The inaugural solar plant near Stara Zagora is already operational, with additional solar plants planned near Kyustendil and Vidin.
The wind farm in northeast Bulgaria aims to set new standards for innovation and efficiency.
All projects are designed to minimise ecological impact by repurposing industrial land and incorporating sophisticated energy storage solutions.
This investment cements United Group’s role as an agent of transformation, aligning with European Union climate objectives and supporting Bulgaria’s green energy shift.
The company aspires to reach net-zero emissions across its value chain by 2040, reinforcing its leadership in sustainability.
