Renewables

Bulgaria’s biggest solar power plant Verila put into operation

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Published

June 23, 2023

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Published:

June 23, 2023

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The 123 MW Verila solar power plant, Bulgaria’s biggest to date, has been put into operation. The facility will supply electricity to telecom company Yettel and its infrastructure affiliate Cetin Bulgaria, according to local media.

Eurohold, which built the Verila solar power plant, will sell electricity to Yettel and Cetin under a 10-year power purchase agreement (PPA), the biggest corporate PPA in Bulgaria so far, according to the reports. The output is expected to cover 80%-86% of the two companies’ electricity consumption.

The Verila solar power plant will sell electricity under a 10-year corporate PPA

Built on hilly terrain on Verila Mountain, near the town of Dupnitsa, the solar power plant was described by the investor as one of the most challenging projects in Europe. It soaked some EUR 102 million, financed from the company’s own funds and bank loans.

Eurohold expects its renewables portfolio to exceed 500 MW by end-2023

According to Kiril Boshov, chairman of the management board of Eurohold, the company is considering expanding its renewable energy capacities and “implementing the best form of green energy storage.”

The company expects its portfolio of renewable energy capacity to exceed 500 MW by the end of the year, Boshov added.

Bulgaria has even bigger solar power projects in pipeline

Meanwhile, Austria-based Enery is preparing to build an even bigger solar power plant in Bulgaria, the 160 MW Chirpan facility. Construction could begin this year, according to earlier reports. But Eurohold has another segment under development in Verila, of 50 MW.

The government is discussing plans to install several gigawatts of solar at the Maritsa coal mines

More importantly, Bulgaria’s former energy minister, Rossen Hristov, said in March that the government was discussing plans to gradually install several gigawatts of solar power facilities at coal complex Maritsa East Mines. He added that talks were under way with a number of investors.

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