Renalfa IPP and Eurowind Energy formally launched the operation of the enlarged Tenevo hybrid renewable energy complex in southeastern Bulgaria. One of the largest in Europe, it combines a photovoltaic plant of 242 MW in peak capacity with two co-located battery energy storage systems totalling 311 MW and 773 MWh. The plan includes 250 MW of wind power.
The Tenevo hybrid power plant, under construction for the past three years in phases, can currently generate 332 GWh of clean electricity a year, according to its owners. A solar power plant with the first BESS segment came online in 2025 in Yambol province in Bulgaria’s southeast. In the meantime, Renalfa IPP and Denmark-based Eurowind Energy expanded it to 242 MW in peak PV capacity, with 311 MW in battery capability and 773 MWh of storage capacity.
Solarpro Holding acted as the engineering, procurement and construction (EPC) contractor and project manager. The two companies have formally inaugurated the enlarged facility, run by their project firm Tenevo Solar Technologies.
Renalfa IPP, headquartered in Vienna, is also a joint venture, established by clean energy and e-mobility company Renalfa Solarpro Group and French renewable energy infrastructure fund manager RGreen Invest.
Financing deal upcoming for second part of BESS
The Tenevo complex is financed by the European Bank for Reconstruction and Development (EBRD) with EUR 50 million and Raiffeisen Bank International AG (RBI) with EUR 53 million for the PV part. EUR 60 million for the second phase of the BESS will be signed shortly, the companies said. The project is among the first in Bulgaria to benefit from a guarantee under the European Union’s InvestEU programme.
Across all phases, total investment in Tenevo would exceed EUR 500 million
The platform is set to expand further, with planned wind phases of more than 250 MW. Across all phases, total investment in Tenevo would exceed EUR 500 million.
”Tenevo complex is the first showcase in Europe of dispatchable renewable asset of that scale. Eastern Europe at the moment is changing the traditional energy transition playbook for investing and structuring of renewable projects. We are thankful to our financing partners EBRD and RBI for being open to support such innovative business models,” said Renalfa Solarpro Group’s Founder and Chief Executive Ivo Prokopiev.
Tenevo is part of process of just transition away from coal
Located next to a coal region undergoing transition, the Tenevo hybrid power plant carries wider significance for Bulgaria’s just transition and the region’s economic transformation, the statement reads.
“Together, we have created one of the largest hybrid energy projects in Europe – but our ambitions do not stop here. Our plans to add wind power to the park underline the potential we see in Bulgaria and our commitment to further developing renewable energy in the country. We are ready to take the next step,” Founder and CEO of Eurowind Energy Jens Rasmussen stated.
