United Group invests €120 million in 4 green energy plants in Bulgaria

United Group, the owner of Vivacom and Nova Television, announced its entry into the energy sector with an ambitious investment of 120 million euros. The strategic move in this new, for the company, field will be made in Bulgaria with the construction of 3 photovoltaic power plants and one wind farm.

The shift to energy activities comes at a time when electricity consumption is growing rapidly amid the need for data centers and artificial intelligence, as well as ambitions to achieve carbon neutrality and curb global warming. 

Together, the projects will have a total installed capacity of 124 MW and an annual production of 310,000 MWh – enough to power over 60,000 households each year.

From 2027, these projects will provide 160% of the electricity needs of United Group's operations in Bulgaria and will meet 65% of UG's total electricity consumption. Each year, they will eliminate approximately 120,000 tons of carbon dioxide emissions from the country's electricity grid.

United Group already has one solar power plant near Stara Zagora called “Mogila”. It is equipped with over 4,600 solar panels. With a peak power of 3 MWp and an energy storage capacity of 5.5 MWh, the solar power plant can produce enough energy to power several thousand households.

Two larger photovoltaic power plants are also under construction. “Barakovo” (8MWp) in Southwestern Bulgaria and “Gramada” in Northwestern Bulgaria. The latter will be the largest in the country – with 41 MWp, 59,000 panels, and a 54 MWh battery complex.

In addition, United Group will build a wind power plant "Kremena" in Northeastern Bulgaria, which will be equipped with 15 wind turbines with a height of over 125 meters and will have an installed capacity of 72 megawatts.

All of these projects will allow the company to produce a significant amount of clean energy and contribute to Bulgaria's energy independence.

Why Bulgaria?

Victoriya Boklag, the CEO of United Group, highlighted the favorable business environment, highly educated people, and EU membership as part of the reasons the company chose Bulgaria as a starting point for its entry into the energy sector.

In addition, Bulgaria is the largest market for the parent company - approximately one-third of its total operations are based here.

So, the second reason is that it was definitely a logical step to make this big investment in our largest market," said Boklag.

"Today, we actually announced United Group's entry into the energy sector not only in Bulgaria but in general. We really hope to expand this project and this business line to other countries," commented the CEO.

Another possible option is Croatia.

This investment reinforces United Group’s role as a catalyst for change in line with the EU’s climate goals and contributes to the green energy transformation in Bulgaria. The company’s ultimate goal is to achieve net zero emissions across its entire value chain by 2040 – a commitment that demonstrates its leadership in sustainability.

Translated by Tzvetozar Vincent Iolov