Rezolv Energy has commenced operations at the St. George solar power plant, a significant addition to Bulgaria’s renewable energy landscape. Situated near Silistra, this facility boasts an installed capacity of 225 MW, positioning it among the largest photovoltaic projects in the country.
The development of the St. George plant has transformed a previously unused brownfield site—once the location of Silistra airport—into a vital renewable energy hub. With an operational lifespan projected at 30 years, the plant is set to deliver substantial contributions to Bulgaria’s clean electricity generation.
The total investment for this project reached approximately 255 million euros, with anticipated annual electricity production estimated at around 313 GWh. Notably, a significant portion of this output has been secured through a long-term virtual power purchase agreement with Ardagh Glass Packaging Europe, ensuring stable revenue for nearly one-third of the plant’s total generation capacity over a 12-year term.
Enhancing its operational capabilities, the St. George facility integrates a battery storage system rated at 90 MW / 240 MWh. This component is designed to improve grid flexibility and bolster system stability, receiving financial support from the EU’s NextGenerationEU program aimed at fostering sustainable energy initiatives.
Additional financial backing for the project was facilitated through 90 million euros in debt funding sourced from the International Finance Corporation (IFC) and Raiffeisen Bank International. This financing is crucial for both construction efforts and the integration of the facility into Bulgaria’s national grid.
According to Alastair Hammond, CEO of Rezolv Energy, this commissioning marks a pivotal milestone for the company as it transitions from development to long-term operational status in renewable energy. The rapid execution of this project—achieving full commercial operation in less than three years post-development rights acquisition—highlights effective project management and execution capabilities.
The construction phase saw collaboration with local partners Solarpro and CMC Europe, while Green Solar Energy handled high-voltage infrastructure and grid connection tasks, ensuring seamless integration into Bulgaria’s electricity transmission network.
