Rezolv Energy has started building the 225 MW St. George solar park in northeastern Bulgaria, transforming an abandoned airport into a renewable energy hub. This large solar project will feature nearly 400,000 bifacial panels, contributing significantly to Bulgaria’s clean energy capacity.
Aiming for Connection in 2024
In an impressive stride toward renewable energy, a large-scale solar park is set to replace an abandoned airport in northeastern Bulgaria. Rezolv Energy has begun construction of the St. George solar facility, a 225 MW solar park that will rank among the largest photovoltaic plants in Bulgaria and the wider Balkan region.
St. George solar facility (Image: Collected)
Situated on the former Silistra airport site near the village of Polkovnik Lambrinovo, this ambitious project marks a major transformation from unused land to a significant renewable energy hub. The St. George solar park will be composed of nearly 400,000 bifacial photovoltaic panels.
Rezolv Energy — based in Prague — acquired the project from YGY Industries last year and has taken swift steps to bring it to life. The groundbreaking ceremony was recently held on the 165-hectare brownfield site, marking the start of an effort to add clean energy capacity to Bulgaria's energy mix.
The St. George solar park is expected to connect to the grid next year, with an estimated average output of 313 GWh annually. The facility’s location near the Romania-Bulgaria border adds to its strategic value, strengthening Bulgaria’s energy network in the northeastern region. Although other solar projects have since surpassed its scale, St. George was initially set to be the largest solar installation in Bulgaria.
Partner Companies Bring International Expertise
Construction of the St. George solar park is backed by a consortium of skilled contractors. Bulgaria-based Solarpro Holding and CMC Europe from China are working as engineering, procurement, and construction (EPC) contractors, while Green Solar Energy — another Bulgarian company — manages the high-voltage work at the site.
Rezolv Energy has opted for bifacial crystalline silicon solar panels for the St. George solar park. These advanced modules are capable of capturing sunlight from both sides, increasing efficiency and energy output. Project documentation indicates the solar park’s capacity was initially designed for 229 MW, with two primary segments of 99.5 MW each connected to the grid.
Electricity from the St. George solar park will be sold to commercial and industrial customers via long-term power purchase agreements (PPAs). Rezolv Energy recently signed a 12-year PPA with Ardagh Glass Packaging-Europe, supplying 110 GWh annually to power its European glass manufacturing operations starting in April 2026.
Rezolv Energy’s virtual PPA with Ardagh is one of the first of its kind in Bulgaria, signaling a new trend in Bulgaria’s renewable energy market. Virtual PPAs offer flexibility, allowing companies to offset their energy needs through renewable energy sources without direct physical delivery.
Securing Funding for the St. George Solar Park
Financing for the St. George solar project received a major boost from international sources. Rezolv Energy secured up to EUR 90 million in debt financing from the International Finance Corporation (IFC) and Raiffeisen Bank International, two key players in sustainable finance.
Rezolv Energy’s main shareholder, Actis — a sustainable infrastructure investment firm — recently announced its acquisition by private equity firm General Atlantic. This transition reflects growing interest in sustainable infrastructure, and the development of the St. George solar park is a clear indicator of Actis’s commitment to expanding renewable energy in the Balkans and beyond.
The St. George solar park represents a bold step for Bulgaria’s renewable energy sector. By transforming a long-abandoned airport site into a high-capacity solar facility, Rezolv Energy is making strides toward a sustainable future. As the facility gears up for grid connection next year, it stands as an example of how innovative solar projects can both drive clean energy and stimulate local economies.