Rezolv Energy, backed by Actis, has secured up to €90 million in debt financing from the International Finance Corporation (IFC) and Raiffeisen Bank International to build the 225 MW solar park in northeastern Bulgaria. The ‘St. George’ solar park in Silistra is scheduled to begin construction soon. The PV park will span across 165 hectares, housing around 400,000 PV panels. Once operational next year, it will generate over 310 GWh annually. The project has also signed a 12-year Virtual Power Purchase Agreement (VPPA) with Ardagh Glass Packaging-Europe, supplying 110 GWh of renewable energy per year to support its decarbonization efforts. During construction, 200 jobs will be created.
Rezolv Energy secures €90M for Bulgarian solar park
St. George Solar Park will be built on a 165-hectare former airfield in northeastern Bulgaria. (Image Credit/Source: PublicDomainPictures/Pixabay)
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