Photo: Rezolv Energy
One of Bulgaria’s largest solar parks is now fully operational. Rezolv Energy built the St. George facility on the site of the former Silistra airport. The investment is worth USD 300 million.
After signing seven power purchase agreements (PPAs) for its projects in Romania and Bulgaria, Rezolv Energy succeeded in bringing its first renewable electricity plant onstream. The St. George solar park, of 225 MW in peak capacity, is one of the biggest in Bulgaria.
The newly commissioned facility reached full operational status in under three years since the acquisition of the development rights. It was built on a 165-hectare brownfield site – the former Silistra airport in northeastern Bulgaria. The developer has secured a 199 MW connection.
St. George is designed to last a minimum of 30 years and generate 313 GWh per year. The investment at the site next to the village of Polkovnik Lambrinovo is worth USD 300 million, the company revealed.
St. George has VPPA with Ardagh Glass Packaging-Europe
The project includes a 90 MW / 240 MWh battery energy storage system, supported by a grant under the European Union’s NextGenerationEU programme, the company pointed out. The facility will deploy electricity generated during peak sunlight hours when it is most needed, according to the update.
Sofia-headquartered Solarpro, of the Renalfa Solarpro Group, and CMC Europe acted as engineering, procurement and construction (EPC) partners. Green Solar Energy, another Bulgarian company, delivered the high-voltage works required for grid connection.
The construction of St. George was underpinned by a long-term virtual power purchase agreement (VPPA) with Ardagh Glass Packaging-Europe (AGP-Europe), an operating business of Ardagh Group. One of the first of its kind in Bulgaria, the deal envisages the delivery of 110 GWh of renewable electricity annually over a 12-year period.
Project benefited from EUR 90 million debt package
The construction phase was also supported by EUR 90 million in debt financing from the International Finance Corp. (IFC) and Raiffeisen Bank International. The solar park is connected to the 110 kV transmission grid via two connection lines of six kilometers overall.
Launched in 2022 by Actis, a growth market investor in sustainable infrastructure, Rezolv Energy also has a 2 GW portfolio of large-scale onshore wind and solar projects in construction or late-stage development in Romania. Its project Dama Solar is for 1.04 TW. It would currently be the largest solar park in the European Union.
Phoebe in northern Greece is the second-largest one excluding clusters, followed by Apriltsi in Bulgaria’s south.
Be the first one to comment on this article.