Bulgaria
Why Bulgaria ?
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Early stage of RES projects development
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EU member state since 2007 with a clear roadmap regarding RES development
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Developed electrical grid ( map shown below)
Preferences summary
- Price allowance
- Preferential connection to the grid
Installed wind power and BG mid-term and long-term goal and commitments
- Existing installed capacity as at the end of Y2008 is less than 100 MW
- Mid-term goal - wind energy installed capacity of 770 MW in Y2010
- Long-term goal - wind energy installed capacity of 2000 MW in Y2020
Wind resource map ( www.3tier.com )
Investment considerations
- Highly-skilled, multilingual workforce at Europe's most competitive wages;
- Stable and predictable business and political environment;
- EU membership;
- Free trade with the EU preferential trade partners, including EFTA, Turkey, Mediterranean countries[1], Western Balkan countries[2], South Africa, Mexico, Chili, etc.;
- 10% corporate income tax rate;
- 10% personal income tax;
- VAT exemption on equipment imports for investment projects over EUR 5 million;
- Annual depreciation rate of 30% for machinery & equipment, 50% for new equipment used in new investments and 50% for software and hardware;
- Treaties for avoidance of double taxation with 61 countries;
- Agreements on mutual protection and promotion of foreign investment with 60 countries;
- Acquisition of land and property through a Bulgarian registered company with up to 100% foreign ownership;
- Fast administrative services through InvestBulgaria Agency;
- Natural and cultural landmarks, tasty food and hospitality.
