Rezolv Energy, supported by UK investment firm Actis, has secured up to €90 million in debt financing for the construction of the 225 MW St. George solar power plant in northeastern Bulgaria. The funding comes from the International Finance Corporation (IFC) and Raiffeisen Bank International. Set to be built on a former brownfield site at Silistra airport, the project will soon enter the construction phase, with completion expected in 2025.
Spanning 165 hectares, the St. George solar power plant will feature nearly 400,000 solar panels, generating over 310 GWh of electricity annually. This project is one of the largest solar initiatives in Bulgaria and has already established a 12-year virtual power purchase agreement (PPA) with Ardagh Glass Packaging-Europe.
