Nova’s parent company, United Group, has entered the renewable energy sector with an initial investment of 120 million euros in Bulgaria.
Specifically, United Group’s investment in Bulgaria includes three photovoltaic parks, one of which is already in operation, and a large wind farm, which will be one of the few of its kind in the neighboring country.
By 2027, these projects will supply 160% of the electricity needs of the company in Bulgaria, covering 65% of the Group’s total electricity needs and eliminating approximately 120,000 tons of CO2 emissions from the neighboring country’s electricity grid annually.
Covering the needs of approximately 60,000 households annually
In total, these units will have a combined capacity of 124 MW, producing 310,000 MWh per year, sufficient to cover the needs of approximately 60,000 households annually. In addition, this new initiative includes a state-of-the-art battery system, which can store 1.5 times the peak energy production.
As explained by United Group CEO Victoriya Boklag, during the presentation of the investment, “the reality is that the digital revolution comes with a cost: energy consumption. Telecommunications networks and data centers consume significant amounts of energy, as they rely heavily on electricity. This is not just a technical issue. It is a sustainability challenge. The demand for data is constantly increasing, as is the need for innovative energy solutions. At United Group, we believe that renewable energy sources are no longer an option, but a necessity, and in Southeastern Europe, this need is even more urgent.”
A new model for the industry
“By integrating renewable energy sources into our operations, we are not only reducing costs and covering our energy needs. We are setting a new standard for the industry. In this way, we are building resilience. We can respond to the next wave of digital developments – from Artificial Intelligence (AI) to electric vehicles and support the climate goals set by the EU, while boosting economic growth. Our goal is to achieve zero CO2 emissions across our entire value chain by 2040. We know it is ambitious, but it is achievable. And this announcement is an important step in this direction,” Boklag noted.
According to its management, United Group has invested 2.5 billion euros in technology and innovation since entering the Bulgarian market in 2020 with the acquisition of Vivacom. Among other things, it has implemented approximately 1.5 million fiber optic network connections (FTTH) and covers 91% of the population with a 5G network.
