The Bulgarian investment group Renalfa and Danish developer Eurowind Energy announced the formation of EURA Energy, a co-owned joint venture company aimed at the Bulgarian renewable energy market.
EURA Energy holds a development portfolio of wind, solar and PtX (Power-to-X or production of Hydrogen from renewable energy) projects with a combined capacity of more than one gigawatt (GW) and is working to expand the portfolio in Bulgaria.
“We are very happy to announce our partnership with Eurowind on the Bulgarian energy market,” said Konstantin Nenov, CEO of Solarpro, a subsidiary of Renalfa. “The combined scale and experience of both companies in wind, solar, storage and PtX projects will allow our joint company EURA Energy to play a key role in the Bulgarian energy transition and to offer clean energy and clean hydrogen at very competitive terms to the market.”
“We see Bulgaria as a very interesting market for years to come,” added Jens Rasmussen, CEO of Eurowind Energy. “Like any other European country, there is a need for more power combined with a green transition of the whole energy system. Solar, wind and PtX plays a part in that transition and is the cheapest way to establish new generational capacity: we believe that the combined capabilities of Renalfa and Eurowind can make a real impact in the market.”
The first project to be realised by EURA Energy is expected to be the over 200 megawatt-peaks (MWp) solar project Tenevo, located in South-eastern Bulgaria, whose construction is planned for the first quarter of 2023.