Loan for photovoltaic installation
ProCredit Bank offers financing for photovoltaic plants (PV plants) for:
- own use of electricity,
- own use and sale of surplus
- selling the electricity*.
Our offer is:
- Loan term up to 7 years
- Grace period up to 4 months
- Loan amount up to EUR 1 million
- Up to 100% financing of the investment
- Floating interest rate minimum 3.25%
*Depending on the scale of your project and business, a PV for sale of electricity may be considered as "Project Finance" (look at the relevant section)
Note: ProCredit Bank is monitoring the situation with the allegations of forced labour of Uyghurs in the Xinjiang region of China. For this reason, we have currently restricted the work with certain PV panel manufacturers and this will be discussed with you during your investment review.
Partners - contractors
ProCredit Bank has developed partnerships with PV contractors in different parts of Bulgaria. The companies will assist you with: the initial documentary review of the investment, preparation of an offer, site visit, preparation of documents for various institutions, installation and commissioning of the plant and its subsequent monitoring.
The partners we are working with have been identified separately for the North West, North East, Central, South East, South West regions:
| Region | Company | Website | Contact details |
| Central | Solarity BG Ltd | https://solaritybg.com/ | +359 32 511 564 |
| North West | VVT Engineering Ltd | https://vvt.bg/ | +359 876 222 686 |
| North East | Solar G Power Ltd | https://www.solargpower.com/ | +359 892 055 695 +359 898 690 308 |
| PIN Consult Ltd | http://www.pinconsult.eu/ | +359 885 110 366 | |
| South East | Solar Service Ltd | https://sol-service.com/ | +359 886 896 726 |
| South West | VVT Engineering Ltd | https://vvt.bg/ | +359 876 222 686 |
Investment costs are defined individually according to the site, the complexity of the installation and the size of the plant. For example: for a 100 kilowatt roof-mounted photovoltaic installation, the estimated investment cost is between EUR 66 500 and EUR 73 000 excluding VAT.
Project financing
Under project financing, the conditions of market uncertainty regarding the long-term prices of electricity purchased from the PV have a significant impact on the specification of the loan parameters. For such projects, please contact us with a prepared business case and information on the stage of permitting.
In the process of project review and plant construction, part of the required documents are the following:
1. Statement on the necessity of EIA (Ministry of Environment and Water or Regional Inspectorate of Environment and Water)
2. Technical design of the installation, including all types of equipment to be used; timetable for implementation of the main activities
3. Contract for construction of the installation - Engineering, procurement, and construction EPC contract (from EPC company)
4. Production evaluation - technical study
5. Statement for connection to the electricity grid (the electricity distribution company for the area, or the electricity system operator)
6. Land ownership contract
How to apply
To apply for a loan for photofoltaic installation, complete the following steps:
- Contact our Contact Centre at 0700 1 70 70 or complete our contact form and we will call you back;
- Discuss the financing you would like to receive with our Business Client Advisers;
- Submit a completed Loan application form and provide the required documents;
- Tell us about your business;
- We will respond within the indicated time period.
Application documents:
- Completed Loan application form;
- Copy of the business owner’s identification card;
- Documents related to the company’s activity, provided after consulting with a Business Client Adviser;
- A pro forma invoice/offer issued by the supplier.