Financing and project scope near the Black Sea
A EUR 78 million financing package will support the first 70 MW phase of the Strazhitsa wind farm near Bulgaria’s Black Sea coast. The funding is provided through a long-term loan from Postbank for the project located near Balchik. Total investment for the development is estimated at approximately EUR 100 million. Developer Tessa Green Energy has secured the EUR 78 million amount from the bank for project development.
Postbank said Strazhitsa is the first Bulgarian wind project of comparable scale to secure financing since 2012. The bank linked the transaction to renewed interest in utility-scale wind projects as Bulgaria seeks to diversify its renewable generation portfolio. The wind farm is planned to be built in several phases, starting with the 70 MW segment supported by the financing package.
Turbine configuration and commissioning timeline
The initial phase will include 11 Vestas EnVentus V162-6.4 MW turbines. This configuration corresponds to an installed capacity of 70 MW. Commercial operations are expected to start in the fourth quarter of 2027. The project schedule is tied to staged development rather than a single construction rollout.
Postbank said the transaction supports Bulgaria’s efforts to increase clean electricity generation and meet national and European Union energy objectives. The bank also described the deal as demonstrating how renewable energy investments can combine economic development with environmental benefits. In addition, Strazhitsa is intended to serve as a foundation for a broader renewable energy portfolio by Tessa Green Energy.
Role in broader renewables plans and market context
Tessa Green Energy plans to use Strazhitsa as an initial step toward further wind development in the region. The developer’s approach positions the project as part of a wider portfolio rather than a standalone investment. For Bulgaria’s renewables market, Postbank noted that solar capacity has expanded rapidly in recent years. New wind development has faced permitting, grid and financing challenges.
The bank said Strazhitsa could become an indicator of a new investment cycle for Bulgaria’s wind market if delivered as planned. Postbank described this as involving bankable projects and long-term financing supporting large-scale wind capacity development once again. The transaction was presented as relevant for other developers seeking to move projects from development into construction.
