Balkans Investment Consulting Agency (BICA) is a private company providing fund management, as well as project and asset management services in Central and Eastern Europe.


    Investment Fund

  • Since 2010, BICA has been managing a 40 million euro private equity investment fund focused on renewable energy projects in Bulgaria, owned by CEZ, a.s.

    Projects in Operation

  • The fund’s first investment (10 million euro) was a ~5 MWp photovoltaic project in Northwestern Bulgaria. The project rights were acquired in the end of 2011 and the solar park was officially opened in May 2012. Learn more. 

    Projects in Progress

  • The fund’s remaining 30 million euro are to be invested into biomass power plant projects, focusing on thermal gasification of biomass as preferred technology solution. To this end, BICA has acquired extensive knowledge of biomass gasification technology, managing the procurement of relevant permits for building a biomass power plant, as well as securing the local feedstock supply chain.