Bulgaria's Yambolen obtains shareholders nod for 9,998.46 kWp solar park

• Bulgarian synthetic fibre manufacturer Yambolen [BUL: YAMB] said on Friday that its shareholders authorized its strategy to sign a 5.8 million euro ($6.6 million) contract with local PV Consult for the design and also building of a 9,998.46 kWp solar park in the community of Yambol, in the southeast of the nation.

The proposition was sustained by all shareholders existing at the meeting, representing 90.50% of the business's capital, Yambolen claimed in a stock exchange filing.

Yambolen will use the power generated by the solar park for its own needs as well as up for sale, it stated.

Yambolen turned to a net loss of 61,000 levs ($35,400/ 31,200 euro) in 2021 from an internet profit of 111,000 levs a year earlier, as revenue went down to 748,000 levs from 901,000 levs, the business stated in its latest monetary statement.

Yambolen is primarily active in the production of polyester fibers, polyester silk, technical rubber items, inorganic salts and also textiles.

Shares of Yambolen last closed at 0.65 levs on the Bulgarian Stock Exchange's BaSE market, bourse data revealed.