Rezolv Energy has broken ground on the 225 MW St. George solar park in northeastern Bulgaria, transforming an abandoned airport into a renewable energy hub. Equipped with nearly 400,000 bifacial panels, the project will significantly expand Bulgariaโs clean energy capacity.
Aiming for Connection in 2024
Rezolv Energy has begun construction on the St. George solar facility, a 225 MW park poised to become one of the largest photovoltaic plants in Bulgaria and the wider Balkan region.
Located on the former Silistra airport site near the village of Polkovnik Lambrinovo, this ambitious project transforms a vast stretch of unused land into a key renewable energy source.
Prague-based Rezolv Energy acquired the project from YGY Industries last year and has moved swiftly to bring it to life. The groundbreaking ceremony was recently held on the 165-hectare brownfield site, a key step toward expanding Bulgariaโs clean energy mix.
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Slated for grid connection next year, the St. George solar park is expected to generate an average of 313 GWh annually. The facilityโs strategic location near the Romania-Bulgaria border will also bolster the country’s energy network in the northeastern region.
While other projects have since surpassed its scale, St. George was originally planned as the largest solar installation in Bulgaria.
Partner Companies Bring International Expertise
A consortium of experienced partners is managing the construction of the St. George solar park. Bulgaria-based Solarpro Holding and China’s CMC Europe are the engineering, procurement, and construction (EPC) contractors, while another local firm, Green Solar Energy, handles the high-voltage work at the site.
Rezolv Energy opted for bifacial crystalline silicon solar panels, advanced modules that capture sunlight from both sides to increase efficiency and energy output. Project documents show the solar park was initially designed for a 229 MW capacity, with two primary segments of 99.5 MW each connecting to the grid.
Electricity from the St. George solar park will be sold to commercial and industrial customers through long-term power purchase agreements (PPAs). For example, Rezolv Energy recently signed a 12-year PPA with Ardagh Glass Packaging-Europe. Starting in April 2026, the agreement will supply 110 GWh annually to power the company’s European glass manufacturing operations.
Rezolv Energyโs virtual PPA with Ardagh is one of the first of its kind in Bulgaria, signaling a new trend in the country’s renewable energy market. Virtual PPAs offer flexibility by allowing companies to offset their energy needs with renewable sources without requiring direct physical delivery.
Securing Funding for the St. George Solar Park
Rezolv Energy secured up to EUR 90 million in debt financing for the St. George project from international lenders, including the International Finance Corporation (IFC) and Raiffeisen Bank Internationalโtwo key players in sustainable finance.
Rezolv Energyโs main shareholder, Actisโa sustainable infrastructure investment firmโrecently announced its acquisition by private equity firm General Atlantic. This transition reflects growing investor interest in sustainable infrastructure, while the St. George project highlights Actisโs commitment to expanding renewable energy in the Balkans and beyond.
The St. George solar park marks a significant step forward for Bulgariaโs renewable energy sector. By converting a brownfield site into a high-capacity solar facility, the project serves as a prime example of how innovative development can drive both clean energy production and local economic growth. As it prepares for grid connection next year, St. George is a tangible symbol of Bulgariaโs commitment to a more sustainable future.
