The first solar electric power plant in Bulgaria is already a fact and it will produce 1250 mgwh per year, the Bulgarian "Intersol" company, investor in the project announced on Wednesday.

The plant is located near the village of Paunovo, in the municipality of Ihtiman, south of the capital Sofia.

The solar plant is not only the biggest facility of the sort in Bulgaria, but in Eastern Europe as well.

The plant`s construction has been completed in the course of one year while the investment cost is estimated at EUR 4 M, two thirds of which have been financed through a bank loan.

The designer and the construction have been executed by the "Sun Service " company while the German IBC Solar AG is the project`s consultant.