Rezolv Energy is a highly experienced, independent renewable energy producer. Rezolv announced on Monday that it has contracted three companies to build the 229-MW St. George solar park in Silistra Municipality in Northeastern Bulgaria.
St. George will be connected to the main transmission grid via a 110kV substation and two independent connection lines totalling approximately six kilometres in length. The high voltage work will be delivered by Green Solar Energy, also a Bulgarian company.
About the St. George solar park
The St. George solar park will be built on a brownfield site: the former Silistra airport, a decommissioned airfield covering 165 hectares. The project will comprise nearly 400,000 solar panels.
In a country which has historically relied on fossil fuels for most of its energy needs, replacing fossil production with renewables delivers the maximum possible emissions reduction impact. St. George will therefore play a crucial role in Bulgaria’s energy transition and help the country meet its climate targets.
The power produced will be sold to commercial and industrial users through long-term Power Purchase Agreements (PPAs). The first PPA for St. George is set to be announced very soon – a major deal and one of the first PPAs to be signed in Bulgaria. It follows the five pioneering PPAs that Rezolv has signed in recent months connected to its 461MW ‘VIFOR’ wind farm in Romania.
As well as PPAs, St. George will be financed through loan facilities from a consortium of international lending partners and regional commercial lenders.
CMC Europe and Solarpro’s role as EPC partner will involve working alongside Rezolv to implement the Environmental and Social Action Plan for St. George. The Environmental and Social Action Plan is consistent with Rezolv’s sustainability strategy, which has been built on industry best practice and aligns with international standards, including the Equator Principles and the International Finance Corporation (IFC)’s Performance Standards on Environmental and Social Sustainability.
In the construction phase of the project, up to 200 people will be hired, with as many employees as possible coming from the local area. Training and skills development programmes are also being put in place. This is a priority, because closing the skills gap in the renewables industry is a crucial part of the energy transition in Bulgaria. Longer term, St. George will continue to provide local employment throughout its 30 plus years of operation.
Alastair Hammond, CEO, Rezolv Energy, said: “St. George will be one of the largest solar projects in Bulgaria, so it was necessary to find the right blend of local experience and international expertise. We also needed partners with outstanding track records who shared our commitment to sustainability. CMC Europe, Solarpro and Green Solar Energy meet all of those requirements.”
Jaroslava Korpanec, Partner, Head of Central and Eastern Europe, Energy Infrastructure at Actis, said: “It’s terrific to see Rezolv Energy moving forward with the St. George solar park in Bulgaria. Once developed, St. George will be one of the largest solar plants in Bulgaria, operating 229MW of solar energy and playing a decisive part in the country’s energy transition. With both the VIFOR wind farm and St. George solar farm progressing strongly, Rezolv has the wind in its sails and is positioned to make a real difference in the region.”
The scheme for St. George includes the installation of almost 400,000 photovoltaic (PV) modules on a decommissioned airfield covering 165 hectares. Rezolv secured a licence for this project in January and plans to finance it through loan facilities from a consortium of international lending partners and regional commercial lenders.
For more information, please visit: Rezolv.Energy
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