The solar park includes nearly 400,000 solar panels and will generate approximately 313 GWh of electricity annually. Built on a 165-hectare brownfield site, the project will operate for at least 30 years and includes a battery energy storage system of 90 MW / 240 MWh, supported by a grant from the EU's NextGenerationEU programme.
Alongside the Bulgarian project, Rezolv Energy holds a portfolio of projects in Romania including the 461 MW Vifor wind farm in Buzău County, Dama Solar in Arad County at 1.24 GW, and the 600 MW Dunărea East and West wind farms in Constanța County. Together, these projects represent an investment of €2.3 billion and will create over 1,200 direct jobs.
Alastair Hammond, CEO of Rezolv Energy, said: "St. George began with a vision to transform an unused brownfield site into a renewable energy project, capable of making a contribution to Bulgaria's energy security and climate goals. It marks Rezolv Energy's transition from developer to long-term operator and manager of clean energy infrastructure."
The construction was supported by a Virtual Power Purchase Agreement with Ardagh Glass Packaging-Europe, supplying 110 GWh of renewable energy annually over 12 years. The project received €90 million in loan financing from the International Finance Corporation and Raiffeisen Bank International.
