Rezolv Energy, an independent renewable energy producer focused on Central and Southeastern Europe, has acquired the rights to build and operate a 229 megawatts (MW) solar plant in Silistra Municipality, in north-eastern Bulgaria. Named St George, construction is due to start before the end of this year; the plant is expected to be completed in early 2025. Once constructed, it will be the largest solar plant in Bulgaria.
“Solar will make up almost 13 per cent of Bulgaria’s total installed capacity this year and estimates suggest that close to 6 gigawatts (GW) of solar power will be generated by 2030,” said Alastair Hammond, Chief Operating Officer of Rezolv Energy. “We are very proud that St George will be such a major part of that growth story. It will help Bulgaria meet its renewable energy targets and contribute to its energy independence. Crucially, for the business sector, it will also enable us to provide highly competitive, subsidy-free clean power at a stable price for industrial and commercial users right across the country.”
St George will be built on the site of the former Silistra airport, a decommissioned airfield covering 165 hectares. The project will comprise nearly 400,000 solar panels. With an average annual power generation of 313 Gigawatt hours (GWh), it will produce the equivalent of 13 per cent of Bulgaria’s currently installed solar power.
The plant will be connected to the main 110 kilovolts (kV) transmission grid via two independent connection lines totalling about 6 kilometres in length. The power will be sold to commercial and industrial users through long-term Power Purchase Agreements.
The project will create a large number of new jobs in the construction phase. Approximately 500 Full Time Equivalent (FTE) employees will be hired, both for light assembly – which is work suitable for men and women, on both a full-time and part-time basis – and highly-skilled engineering roles. In the long term, the power plant will provide local employment for skilled and semi-skilled labour throughout the 30-plus years of operation.
St George will be designed, constructed, and operated to the highest environmental, social and governance (ESG) standards.