Czech independent power producer (IPP) Rezolv Energy has acquired the rights to build and operate a 229MW solar PV plant in Bulgaria.
Located in Silistra Municipality in the northeastern part of the country and named St. George, the plant’s construction will begin before the end of this year and is expected to be completed in early 2025. After completion, the power plant will be the largest solar plant in Bulgaria, according to the IPP.
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Built on a former airport, the power plant will comprise nearly 400,000 solar panels. With an average annual power generation of 313GWh, the power plant will produce the equivalent of 13% of Bulgaria’s currently-installed solar power.
“It will help Bulgaria meet its renewable energy targets and contribute to its energy independence. Crucially, for the business sector, it will also enable us to provide highly competitive, subsidy-free clean power at a stable price for industrial and commercial users right across the country,” said Alastair Hammond, chief operating officer of Rezolv Energy.
According to Rezolv Energy, solar will make up almost 13% of Bulgaria’s total installed capacity this year, and estimates suggest that close to 6GW of solar power will be generated by 2030.
Last year, Rezolv Energy acquired rights to a 1,044MW PV plant in western Romania. Acquired from Monsson Group, the plant is expected to include 1.6 million solar panels, be operational by 2025 and generate an annual average of 1,500GWh of power.
