The local private equity fund Advance Equity Holding is to open a 1 MW solar energy plant in the western town of Ihtiman , some 50 kilometres away from the capital of Sofia . The company has earmarked EUR 18.6mn for investments in solar and wind-power generators by the end of this year. Deputy minister of economy and energy Valentin Ivanov has meanwhile pledged to propose legislative amendments to extend the period for purchasing clean energy at preferential prices from 12 to 25 years. Electricity distributors are obliged to purchase all clean energy at prices, which are about three times higher than conventional energy. The installed capacity in the country for generation of solar and wind power stands at 150 KW and 70 MW respectively. Investors are interested to build solar installations with capacity of 850 MW and wind power generators for 3,000 MW.