The Austrian company KIOTO - Photovoltaics will build a solar park in Tervel with a five megawatt capacity, the construction of which will commence by the end of 2009, and my mid-2010, the park is poised to be connected to the municipal electric grid of Tervel, Investor.bg has reported.

Photovoltaics Tervel 1, a daughter firm of KIOTO – Photovoltaics Austria, will invest 25 million euro in the facilities and auxiliary equipment, which will be erected upon a 30ha parcel on municipal land.

The Austrian concern is amongst the largest solar energy producers in Europe. Construction will employ about 50 people from the region, but the report has failed to disclose the total amount of permanent jobs that will be created once the enterprise is complete.

Tervel Municipality is earmarked to receive a fixed share for every megawatt hour of solar energy produced for the next 30 years, according to the contract, the report, quoted by Investor.bg has said.

Photovoltaic projects in Bulgaria have become increasingly popular in recent years. A substantially larger plant is also under construction in Pleven, a project which will absorb an investment exceeding 200 million leva and will produce both solar and wind energy.