Samsung to Sell Seven Solar Parks Located in Bulgaria

Samsung to Sell Seven Solar Parks Located in Bulgaria

Samsung’s green energy business in Bulgaria will be acquired by a consortium of Luxemburg-registered fund KGAL and Czech family group Micronix. The competitive process was launched in April 2018; however, deal value was not officially disclosed. Experts in the photovoltaic (PV) field suggest the combined market price of the assets, located near the city of Pleven, amounts to ca. € 40 mln.

Micronix is a Czech family group founded in 1990. The company is active in manufacturing (batteries & accumulators, measurement equipment, security systems), solar energy, etc. Through its daughter entity, Portanero Invest the company manages two solar parks located in the Southwestern part of Bulgaria with a combined power of 5.25 Megawatts (MV). The plants account for 0.5% of the total photovoltaic capacity in Bulgaria and generate a combined revenue of € 2.4 mln. In comparison, the seven solar parts involved in the transaction have combined power of 43 MV (4.12% of total photovoltaic capacity) and generate revenue of € 12.8 mln.

KGAL has € 22 Bn of assets under management, mainly concentrated in the fields of real estate, energy, and aviation. The group was founded in 1968 and is currently among the most recognized investors in renewable energy. The company has acquired more than 100 photovoltaic and wind plants amounting to around € 2.5 Bn during the last fifteen years. KGAL operates in ten European markets, including Germany, France, and UK.

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