Dutch company Infinity Energy Holding will invest 50 million euros in the construction of a solar installation near Devnya, in the northeast of Bulgaria near city of Varna, Dnevnik daily reported on March 18 2011.

The project was announced following a meeting with the governor of the Varna region, Yordan Simeonov, and the the company’s chairman of the board, Tjalling Halbertsma. The new solar plant will have a total output capacity of 15 megawatts, the report said.

Currently, the first phase of the installation is under construction, which will have an output of five megawatts. It is expected that the construction will last until the end of the year.

The construction of the second part of the project, and the installation of the panels that will produce the remaining 10 megawatts of energy, will occur only after the Parliament passes the bill setting the tariffs for the sale of electric power produced from solar installations, the report said.

The company is also contemplating the construction of wind parks in the future, Dnevnik reported.

“We are interested in this concept, because we have our own company constructing wind turbines, ” Halbertsma said.