Czech independent power producer (IPP) Rezolv Energy has signed engineering, procurement and construction (EPC) contracts with three companies to build a 229MW solar PV project in Bulgaria.
Deals were signed with CMC Europe – a Hungary-based EPC contractor – and Bulgarian EPCs Solarpro and Green Solar Energy. CMC Europe and Solarpro will act as joint EPC contractors for the St. George project and Green Solar Energy will handle the high-voltage work connecting the site to Bulgaria’s transmission grid.
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The St. George PV project will be built on the brownfield site of the former Silistra airport, in the northeast of Bulgaria. Rezolv said that the 229MW site will comprise around 400,000 solar modules and is expected to come online in 2025. When it announced the site back in July 2023, Rezolv said it would be the “largest” PV project in Bulgaria upon completion.
Power from St. George will be sold to commercial and industrial users through power purchase agreements (PPA), the first of which Rezolv said would be announced “very soon”.
Alastair Hammond, CEO ofRezolv 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.”
Rezolv was launched in 2022 by sustainable infrastructure investment platform Actis to focus on renewable energy developments in Central and Eastern Europe.
In November 2022, the company announced that it had acquired the rights to a 1,044MW PV plant in Western Romania, which would be the largest solar site in Europe if it comes to fruition. PV Tech Premium published a deep dive into the plans for the site at the time.
Rezolv said that it currently has over 2GW of renewable energy projects under development or construction across southeastern Europe.
The region at large has attracted increasing attention for solar development. Perhaps the most notable development was the €2 billion April deal between Greek energy company Mytilineos and European utility PPC Group to develop 2GW of solar PV assets across Romania, Bulgaria, Croatia and Italy.
