<\/p>\n
Debt package will support the construction of a 225MW project in north-east of the country.<\/p>\n
Rezolv Energy has secured up to \u20ac90m in debt financing from the International Finance Corporation (IFC) and Raiffeisen Bank International to support the construction of a 225MW solar park in north-east Bulgaria.<\/p>\n
Construction work on the St George solar park is due to start very shortly, with the plant scheduled to come on stream next year, Resolv said.<\/p>\n
This announcement follows the signing in early September of a 12-year Virtual Power Purchase Agreement (VPPA) with Ardagh Glass Packaging-Europe (AGP-Europe), an operating business of Ardagh Group.<\/p>\n
The VPPA \u2013 one of the first to be signed in Bulgaria \u2013 is intended to provide 110GWh per year of renewable electricity from St George to AGP-Europe to help decarbonise its manufacturing operations across Europe.<\/p>\n
Also in September, Rezolv confirmed it had selected three companies to build St George.<\/p>\n
Bulgarian company Solarpro and CMC Europe will together act as the engineering, procurement and construction partner. The high voltage work will be delivered by Green Solar Energy, another Bulgarian company.<\/p>\n
The 225MW St George solar park will be built on a brownfield site: the former Silistra airport, a decommissioned airfield in north-east Bulgaria covering 165 hectares.<\/p>\n
The project will comprise nearly 400,000 photovoltaic panels.<\/p>\n
It will be connected to the main transmission grid via a 110kV substation and two independent connection lines totalling approximately 6km in length.<\/p>\n
With an average annual power generation of more than 310GWh, St George will be one of the largest solar projects in Bulgaria once it is operational next year.<\/p>\n
In a country which has historically relied on fossil fuels for most of its energy needs, replacing fossil production with renewables delivers the maximum possible emissions reduction impact.<\/p>\n
St George will therefore play a crucial role in Bulgaria\u2019s energy transition and help the country meet its climate targets.<\/p>\n
The project will create 200 new jobs in the construction phase, both people involved in light assembly \u2013 which is work suitable for men and women, on both a full-time and part-time basis \u2013 and highly-skilled engineers.<\/p>\n
Longer term, the power plant will provide local employment throughout its 30 plus years of operation.<\/p>\n
Rezolv Energy chief executive Alastair Hammond said: “From the very start, we were all excited by the opportunity that St George presented to take a decommissioned airfield, which has not been put to any positive use for many years, and convert it into a project to improve air quality and help Bulgaria meet its climate targets.<\/p>\n
“Securing this support from the IFC and Raiffeisen Bank International is a big step towards turning that dream into a reality.”<\/p>\n
<\/p>","protected":false},"excerpt":{"rendered":"
Debt package will support the construction of a 225MW project in north-east of the country. Rezolv Energy has secured up to \u20ac90m in debt financing from the International Finance Corporation (IFC) and Raiffeisen Bank International to support the construction of a 225MW solar park in north-east Bulgaria. Construction work on the St George solar park […]<\/p>\n","protected":false},"author":1,"featured_media":2734,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2733","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bez-rubriki"],"featured_image_src":{"landsacpe":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/10\/Raiffeisen-Bank-2-1140x445.jpg",1140,445,true],"list":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/10\/Raiffeisen-Bank-2-463x348.jpg",463,348,true],"medium":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/10\/Raiffeisen-Bank-2-300x200.jpg",300,200,true],"full":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/10\/Raiffeisen-Bank-2-scaled.jpg",2560,1707,false]},"_links":{"self":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/2733","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/comments?post=2733"}],"version-history":[{"count":1,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/2733\/revisions"}],"predecessor-version":[{"id":2735,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/2733\/revisions\/2735"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media\/2734"}],"wp:attachment":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media?parent=2733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/categories?post=2733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/tags?post=2733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}