Japanese consumer electronics maker Toshiba Corp said it plans to launch solar power projects in Europe and the United States, including Bulgaria, Reuters reported.

The company will initiate the push with the construction of a 10 MW Bulgarian facility scheduled to come on stream next financial year, a company spokesman said.

The plant in Yambol will take an estimated investment of about JPY 4 billion to build and will be capable of feeding power to about 2,000 households.

Instead of owning the plant outright, Toshiba will sell it to local financial funds and other investors.

Toshiba plans to build eight large solar power plants a year in Europe alone in 2015 and may consider local acquisitions of firms with construction knowledge.

Toshiba targets to generate JPY 150 billion in overseas sales from solar power operations in the year to March 2016.

Solar power has been gaining traction in Bulgaria over the recent years, with approximately 10 MW of projects humming at the moment, according to the Bulgarian Photovoltaic Association (BPvA). The group expects that another 30 MW worth of solar capacity could come online by the end of the year.

Solar-generating electricity gets the richest feed-in tariffs set by the State Energy and Water Regulatory Commission (SEWRC), Bulgaria’s energy watchdog. Producers pocket BGN 823 per MWh, value-added tax (VAT) excluded, for solar parks of up to 5 MW and BGN 755/MWh for larger installations, according to the SEWRC website. This compares with BGN 145 to BGN 190/MWh for wind power, which is Bulgaria’s other prominent source of renewable energy.