Akuo, an unbiased renewable power energy producer and developer, pronounces that it has accomplished the acquisition of 5 small hydroelectric crops in Bulgaria with whole put in capability of 15.5 MW.

Akuo bought the crops, on the Iskar River close to Svoghe, from PVB Power Bulgaria. These property, whose names weren’t disclosed, have been operational since 2010 to 2013.

This acquisition permits Akuo to strengthen its hydroelectricity division and its presence in Bulgaria, the place the French group already runs 4 different hydropower stations with put in capability of 63 MW. Akuo stated the native and renewable power produced by these crops represents the equal of 35,000 metric tons of CO2 prevented and can cowl the electrical energy consumption of greater than 20,000 Bulgarian properties.

This exterior progress operation additionally permits Akuo to combine a group of 12 engineers and technicians specialised in working and sustaining hydroelectric crops, but additionally to strengthen its asset administration groups, in response to a press launch. Lastly, it additionally displays Akuo’s intention of accelerating its lively position on the deregulated power market over the approaching years.

Bulgaria has set a goal of accelerating the share of renewable power within the nation’s electrical energy manufacturing to over 30% by 2030. This goal features a 2.6 GW improve in renewable electrical energy capability, to virtually 7 GW by that yr. Bulgaria has a considerable reservoir of renewable power assets, a well-interconnected electrical energy grid, but additionally getting older coal-powered stations for which renewable power mixed with storing options provides a cost-effective and dependable various, Akuo stated.

“With our experience in working and sustaining hydroelectric property and promoting electrical energy on the Bulgarian market since 2018, this newest acquisition additional strengthens our hydroelectric exercise each domestically and at Group stage. This operation consolidates our presence within the area on all of our applied sciences but additionally in services,” stated Eric Scotto, chairman and co-founder of Akuo.

Akuo works in challenge growth, financing, building and operation. As of the top of 2020, Akuo had invested greater than €2.6 billion for a present whole capability of 1.three GW in operation or underneath building and had over 5 GW of initiatives underneath growth.

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