Our first own project – Marvik Pastrogor – started as a 1MWp project in March 2011, and was extended to 1,53MWp in August 2011. We have refinanced the project in February 2012 by Allianz Bank in Bulgaria.

 

After refinancing our first project, we installed our next one in May 2012. This second 4,4MWp project – FM SOL – has been fully operational since July 2012. This project was also refinanced, this time by UBB in Bulgaria in February 2013.

 

The introduction of less beneficial feed-in-tariff in Bulgaria and the opening of the Romanian photovoltaic market drove us to focus on that region. We developed three projects in Romania. Construction of a 1MWp project near Oradea and a 0.55MWp project near Arad finished in 2013 September, and a 2.3MW park has been in operation since November as well.