Rezolv Energy has begun construction 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 is set to contribute significantly to the growing Bulgaria solar energy industry.
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 site of the former Silistra airport near the village of Polkovnik Lambrinovo, this ambitious project is transforming 165 hectares of unused brownfield land into a vital renewable energy hub.
Prague-based Rezolv Energy acquired the project from YGY Industries last year and has moved swiftly to bring it to life. A recent groundbreaking ceremony marks a key step in adding clean energy to Bulgaria’s national grid.
Scheduled for grid connection next year, the St. George solar park is expected to generate an average of 313 GWh annually. Its strategic location near the Romania-Bulgaria border will also strengthen the country’s energy network in the northeastern region. While other projects have since surpassed its scale, St. George was initially planned as the largest solar installation in Bulgaria.
Partner Companies Bring International Expertise
A consortium of experienced contractors 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 Bulgarian company, Green Solar Energy, is handling the high-voltage work at the site.
Rezolv Energy has opted for bifacial crystalline silicon solar panels. These advanced modules capture sunlight from both sides, increasing efficiency and energy output. According to project documentation, the solar park’s capacity was initially designed for 229 MW, 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). Rezolv Energy recently signed a 12-year PPA with Ardagh Glass Packaging-Europe to supply 110 GWh annually starting in April 2026. This will power the company’s European glass manufacturing operations.
Rezolv Energy’s 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. These agreements offer flexibility, 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 International—two key players in sustainable finance.
Rezolv Energy’s main shareholder, the sustainable infrastructure investment firm Actis, recently announced its acquisition by private equity firm General Atlantic. This transition reflects growing investor interest in sustainable infrastructure, while the St. George project highlights Actis’s commitment to expanding renewable energy in the Balkans and beyond.
The St. George solar park represents a significant step forward for Bulgaria’s 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 clean energy production and stimulate local economies. As it prepares for grid connection next year, St. George is a tangible step toward a more sustainable future.
