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 ‘St. George’ solar park in Silistra, northeastern Bulgaria. Scheduled to begin construction soon. The PV park will span 165 hectares and include nearly 400,000 photovoltaic 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, with ongoing local employment for the 30-year operational period.
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 Source: Rezolv Energy)
The project supports agriculture through solar power under PM-KUSUM scheme. (Image Credit/Source: Kelly/Pexels)
Scout Clean Energy will handle the development, financing, and construction of the hybrid solar and battery system. (Image Source: Redeux Energy)
AMPIN Energy Transition currently operates a 410 MW solar portfolio in Rajasthan and plans to scale its renewable capacity to 1GW with this hybrid project. (Image Source: AMPIN Energy)
Vena Energy’s Kasama Solar Project will help reduce greenhouse gas (GHG) emissions by 38,000 tons per year. (Image Source:VenaEnergy)