Dutch company Infinity Energy Holding AG will invest EUR 50 M in a solar power installation near the Bulgarian town of Devnya, near the Black Sea city of Varna.

The announcement was made Friday by the Chair of the Management Board of the company, Tjalling Halbertsma, after a meeting with the governor of the Varna district, Dancho Simeonov.

At present, the company is building the first part of the installation, which is expected to have a power of 5 MW. It has to be completed by the end of the year.

In Bulgarian, Infinity energy Holding AG has contacts and is working with the company Solarpro.

In Halbertsma's words, the construction of the second part of the solar park, which will have a power of 10 MW, will begin after the Bulgarian Parliament adopts the law which defines the rates for sale of electricity from solar installations.

He also said that his company is interested in building wind farms in Bulgaria as well.

"We are active in this direction as well because we have our own enterprise for production of wind turbines," Halbertsma said.