The putting into operation of the biggest photovoltaic plant on the Balkans, near the town of Parvomai, will be equal to the removal of 7,000 cars from circulation.

UniCredit Bulbank actively participates in the building of a more energy efficient economy, said Mr. Andrea Casini, COO of UniCredit Bulbank, at the First International Conference on Investments in Bulgaria. He further explained that UniCredit Bulbank has made a commitment to responsible practices for crediting environment friendly products and services.

The Bank has provided 52.5 million euro to private and public organizations for improvement of energy efficiency and investments in renewable energy sources. Moreover, the beneficiaries have the right to receive up to 20% of the amount of the loan as a grant under various programmes.

According to Eurostat the Bulgarian economy is 5 times more inefficient in terms of energy. Thanks to the established successful partnerships with multinational financial institutions, among which the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB), UniCredit Bulbank has signed agreements for the implementation of various credit facilities specialized in the field of investments for sustainable development. Thus for instance the Bank is one of the six financial institutions in Bulgaria which signed an agreement with the European Bank for Reconstruction and Development under the Energy Efficiency and Green Economy Programme for servicing a credit facility of 150 million euro.

“Bulgaria gives us an excellent opportunity to work for improvement of the energy efficiency in the country“, Andrea Casini commented. He gave as example the building of the biggest photovoltaic plant on the Balkans, near the town of Parvomai, which is co-financed by UniCredit Bulbank. The total amount of the investment reaches 125 million euro.

The project will have an extremely positive impact on the environment, and the expectations are that the photovoltaic plant will be capable of supplying with electricity 27,000 homes and will reduce the carbon dioxide emissions by 37,400 tons. The effect is equal to the removal of 7,000 cars from circulation.

More information for media:

UniCredit Bulbank, Identity & Communications Department

Viktoria Blajeva, Phone: + 359 2 9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch

Magdalena Ivanova, Phone: + 359 2 9232 528, nbhebmfob/jwbopwbAvojdsfejuhspvq/ch