The company aims to generate revenue of 150bn yen ($1.8bn) from overseas solar power operations and an additional 50bn yen ($0.6bn) from domestic operations in the fiscal year ending March 2016, Reuters reported.
The company initially plans to take up construction of a 10MW facility at Yambol in Bulgaria at a cost of 4bn yen. The project slated to go on stream next financial year.
Toshiba will set up the plant and sell it to local investors, instead of owning the plant outright.
The company plans to construct eight solar power plants in Europe alone in 2015 and might consider acquisition of local firms with construction knowledge to achieve this goal.
Toshiba aims to utilize its expertise in solar power plants to tap the demand for smart-grid infrastructure in these markets.
