Just three days after Gehrlicher unveiled its 1.2MW system in Bulgaria, P2 Solar has given a further boost to the Eastern European nation’s solar industry by unveiling plans to build a 7.3MW PV plant near the Greek border.

P2 claim the project has already received all the required permitting and signed a 20-year Power Purchase Agreement with the Bulgarian Government. When completed, the 35-acre site is expected to generate gross revenue of US$76.5 million over a 20-year period.

"We are excited with this 7.3MW solar project and will be performing due diligence with our engineering team and legal counsel during the next three weeks in order to finalize the project details,” P2 Solar CEO Raj-Mohinder Gurm said. "Our team has been working hard to secure projects in line with our company mandate and Bulgaria should become a big part of that with its enormous potential for solar power development."

This development is the first phase of P2’s three-phase programme to install 100MW of PV systems worldwide between 2011 to 2013.