Akuo Energy announces the acquisition of PVB Power Bulgaria and its portfolio of 5 hydropower plants in Bulgaria.
Present in the country since 2018, the French renewable energy producer thus adds 15.5 MW to its Bulgarian capacity of 63 MW.
Akuo strengthens its hydro division in Bulgaria
5 new hydro power plants
With the acquisition of PVB Power Bulgaria, whose assets have been in circulation since 2010, Akuo strengthens its hydroelectric division.
This, while strengthening its presence in Bulgaria, where the group has been operating four other hydroelectric power plants since 2018.
This expansion enables Akuo to integrate a team of 12 engineers and technicians specialized in the operation of hydroelectric power plants.
A 78 MW Bulgarian portfolio
The acquisition of PVB power Bulgaria gives Akuo a portfolio of 78 MW in Bulgaria.
The energy produced covers the electricity consumption of 20,000 households.
It also saves 35,000 tonnes of CO2.
The Group is thus consolidating its presence in the region across all its technologies, products and services.
This extension demonstrates the company’s determination to position itself as an energy leader in Bulgaria.
Contributing to Bulgaria’s energy transition
30% renewable energy in the Bulgarian mix
With this acquisition, Akuo strengthens its position in the country.
And this at a time when Bulgaria has announced its intention to increase the share of renewable energies in electricity consumption.
The country is aiming for over 30% of electricity to come from renewable sources by 2030.
Increase renewable generation from 2.6 GW to 7 GW
Bulgaria aims to increase its renewable electricity production by 2.6 GW to 7 GW.
In this respect, Bulgaria is endowed with significant renewable energy resources.
The country also has an interconnected electricity system.
Not to mention its ageing coal-fired power plants.
Coupled with storage solutions, renewable energies offer economical and reliable alternatives.
With this extension, Akuo is consolidating its position in the country and confirming its intention to conquer its expanding market.
