Bosch Group, the German global supplier of technology and services, plans to enter the Bulgarian market for renewable energy.

The company will also focus on the distribution of energy-saving solutions for heating and cooling of natural gas, an area where considerable quantities of carbon gases may be saved.

Yordan Dochev, commercial director of the Thermo-technology Department at Bosch-Bulgaria, has announced this development on Friday, stating that the company plans to achieve a Bulgarian market penetration of over 10% in the short-term.

Dochev added that is a strategic project for the company and it aims at acquiring additional market shares and continuing the growth that Bosch Thermo-technology has shown up to now.

"Despite the present economic situation, we are convinced that this strategic move will provide a long-term and stable impulse of the growth and the development of the company on the regional market," he said.

He justified his optimism by the fact that the market for heating equipment - not only in Bulgaria, but throughout Europe - will continue to expand.

Dochev explained that, particularly in Eastern European countries, there was still a huge demand for retro-fitting of buildings, and that the tendency was to invest in modern technologies for heating and hot water, along with the associated ecological and energy-saving aspects of the investment.

He also pointed out that the installation of solar panels on the roof of a building might provide an annual average of up to 70% of the hot water and heating needs of its inhabitants. From May to September, the panels might provide 100% of these requirements, while the effect was least in January and February, when 35% of needs were covered.

Typical investment in solar systems are paid off within a few years and then, for a period of 20 years, the solar energy may be used entirely free, making people more independent of price fluctuations of conventional energy sources, Dochev added.

The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, some 280 000 associates generated sales of EUR 45,1 B in fiscal 2008.

The Bosch Group comprises Robert Bosch GmbH and its more than 300 subsidiaries and regional companies in over 60 countries. If its sales and service partners are included, then Bosch is represented in approximately 150 countries.