Akuo, a French independent global renewable energy power producer and developer, has acquired five hydroelectric plants in Bulgaria.
PVB Power Bulgaria is a 15.5-megawatt portfolio of five operational hydroelectric plants, which are located on the Iskar river near Svoghe. They have been operational since 2010–2013.
This transaction strengthens Akuo’s foothold in Bulgaria, where it has amassed 63 megawatts of hydroelectric assets since 2018, bringing the group’s operational production capacity in the country to more than 78 megawatts.
The local and renewable energy produced by these plants represents the equivalent of 35,000 metric tons of CO2 avoided and will cover the electricity consumption of more than 20,000 Bulgarian homes.
According to Akuo, Bulgaria has set a target of increasing the share of renewable energy in the country’s electricity production to more than 30 percent by 2030. This target includes a 2.6-gigawatt increase in t