Rezolv Energy to build Bulgaria’s largest solar park 229MW near Silistra

London-based Rezolv Energy has set its sights on constructing and managing an extensive solar park near Silistra, Bulgaria, making it the largest of its kind in the country. Acquiring a 229 MW solar power project from local company YGY Industries, owned by major businessman Yavor Georgiev, Rezolv Energy plans to build the solar park on the decommissioned Silistra airport, utilizing 165 hectares of land for the venture. Construction is scheduled to begin before the year’s end, with the solar plant comprising nearly 400,000 solar panels and projected to generate an average annual electricity output of 313 gigawatt hours (GWh). The plant will be linked to the main 110 kV power transmission network through two independent connecting lines, spanning approximately 6 kilometers, and the electricity produced will be sold to commercial and industrial users through long-term power purchase agreements (PPAs).

This initiative marks a significant step towards Bulgaria’s renewable energy goals, with solar energy from the St. Georgi solar park expected to constitute nearly 13% of the country’s total installed capacity this year. Rezolv Energy’s chief operating officer, Alistair Hammond, points out that forecasts indicate a staggering 6 GW of solar energy generation by 2030. Moreover, during its construction phase, the project is set to create a substantial number of job opportunities, employing around 500 full-time workers, as stated by the company.

Rezolv Energy, a recently established entity by the international capital group Actis, is strategically focused on becoming a prominent independent clean energy producer, particularly targeting the Central and Southeastern Europe regions. Already having over 2 GW of clean energy projects in preparation for construction in Romania, including the impressive 1.04 MW Dama Solar project – Europe’s largest solar plant once operational – the company aims to play a pivotal role in Bulgaria’s journey towards energy independence, offering competitive, subsidy-free clean energy solutions to various industries nationwide. Nevertheless, it’s worth noting that the concept of a “St. George” photovoltaic plant has been around for a decade, with previous plans by the American company AES, proposing a capacity of 80 MW in the Silistra district. However, AES abandoned its project in subsequent years.

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