Image: Anton Atanasov, Unsplash
The IFC, a member of the World Bank Group, and the Vienna-headquartered Raiffeisen Bank International are financing the event of a serious photo voltaic challenge in Bulgaria.
The mortgage package deal, price €90 million, consists of €43 million from IFC, €30 million from its personal account and as much as €13 million from its Managed Co-Lending Portfolio Program. Raiffeisen Bank International contributed the remaining quantity.
Rezlov Energy is growing a 225 MW challenge close to Silistra in northeastern Bulgaria. it contains the event, development, and operation of the photo voltaic plant, with two overhead transmission strains totaling 6 km.
Once operational, the challenge will run on a service provider foundation, promoting electrical energy via a mixture of the wholesale electrical energy market via the Independent Bulgarian Energy Exchange and energy buy agreements with companies.
Bulgaria has set a goal of including virtually 3 GW of renewable power capability by 2030, which the IFC estimates would require €43.7 billion of funding.
According to figures from the International Renewable Energy Agency (IRENA), Bulgaria has deployed 2,937 MW of photo voltaic by the tip of 2023.
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