Clean Energy and Power, Inc. (PINKSHEETS: KEPI) (www.cleanenergyandpower.com) today announced it has entered into exclusive negotiations to acquire a controlling stake in a 3 megawatt solar project in Bulgaria, a member of the European Union.
CEP is taking the opportunity to gain an early entrance to the Bulgarian market place for these energy projects. The recent announcement by Bulgaria and European Energy Commission to approve the details of a solar program which will last for the next several years includes a 25-year guaranteed off-take price (purchase price by the utility) in the amount of $0.56 US per kWh. "The boom in European solar development is continuing and the next country to lead these efforts is Bulgaria. We feel it is of paramount importance for us to be first on the ground as we continue our solar development efforts in Europe," said Mr. Erwin Vahlsing, Jr., CEO of the company.
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