UK-based The European Bank for Reconstruction and Development (EBRD) is providing €50 million (~$52.63 million) in financing for a 237 MW solar PV plant in Tenevo, Bulgaria, with an additional €53 million (~$55.79 million) contributed by Raiffeisen Bank. The Tenevo Solar Technologies project is the first InvestEU-backed initiative in Bulgaria, designed to generate over 300 GWh of electricity annually while reducing CO2 emissions by 250,000 tons. Scheduled for completion by 2027, the project also plans to incorporate 250 MW of energy storage and will operate without subsidies or power purchase agreements (PPAs). Jointly developed by Renalfa Solarpro Group, RGreen Invest, and Eurowind Energy, the project supports Bulgaria’s net-zero goals and its renewable energy target of 34.7% of electricity consumption by 2030.
EBRD funds 237 MW PV plant to power Bulgaria
The Tenevo project will generate 300 GWh annually, reducing CO2 emissions by 250,000 tons each year. (Image Source: EBRD)
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