Independent power producer Rezolv Energy, supported by UK investment firm Actis, has initiated construction on its 225-MW St George solar project in northeastern Bulgaria. Expected to be a significant step in the nation's shift toward renewable energy, the project aims to help Bulgaria reduce its reliance on fossil fuels.
The St George solar farm is being constructed on a 165-hectare brownfield site at the former Silistra airport. Once completed, nearly 400,000 solar panels will generate over 310 GWh of clean electricity per year. The project is expected to go online in 2024.
Engineering, procurement, and construction will be led by Solarpro Holding and CMC Europe, with Green Solar Energy managing high-voltage work. During construction, the project will create around 200 jobs, contributing to local economic development.
The solar farm has received up to EUR 90 million in debt financing from the International Finance Corporation (IFC) and Raiffeisen Bank International, ensuring robust support for one of Bulgaria's largest solar projects.
