Introduction
Rezolv Energy, backed by Actis, has announced the initiation of construction for the St. George solar plant, one of Bulgaria’s largest solar energy projects. Located in Silistra, this 229-MW facility marks a significant advancement in Bulgaria’s renewable energy sector.
Construction Details and Contractor Roles
Rezolv Energy has engaged three contractors for this massive project: CMC Europe, Solarpro, and Green Solar Energy. Construction is set to commence shortly with CMC Europe and Solarpro collaboratively managing the main construction efforts. Green Solar Energy, another Bulgarian entity, is tasked with installing a high-voltage infrastructure that includes a 110 kV substation and two independent lines extending around 6 km.
Project Specifications and Location
The solar facility will sprawl across 165 hectares on a repurposed airport near Silistra. Plans include the installation of nearly 400,000 solar panels, reflecting the scale and ambition of this green energy initiative.
Economic and Employment Impact
The project is not just a leap forward in energy sustainability but also a significant economic catalyst for the local community. During the construction phase, the project will employ up to 200 individuals, prioritizing local hires. Additionally, Rezolv Energy is implementing training and skills development programs to support long-term employment opportunities, given the plant’s operational expectancy of over 30 years.
Financial Structure and Consumer Impact
The St. George solar plant is financed through a blend of long-term power purchase agreements (PPAs) with commercial and industrial consumers, supplemented by loans from both international lenders and regional commercial banks. This financial structure ensures a steady advancement towards completion and operational commencement slated for next year.
Conclusion
The St. George solar plant represents a transformative project for Bulgaria, contributing significantly to the nation’s renewable energy capacity and local economic development. As Bulgaria strides towards enhanced sustainable energy solutions, the St. George solar plant sets a precedent for future projects in the region.
Source: bta.bg
