Tenevo Solar PV (238MW)

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This project involves the construction and operation of a 238 MW solar photovoltaic plant in southeastern Bulgaria by Tenevo Solar Technologies EAD. The Tenevo Solar Plant is expected to generate over 300 GWh of electricity annually, contributing to a reduction of 250,000 tonnes of carbon emissions per year. Future plans include the addition of a 250 MW behind-the-meter energy storage facility, further enhancing Bulgaria’s renewable energy capacity. The total project cost stands at $166.62 million, of which $52.58 (€50) million loan comes from the European Bank for Reconstruction and Development (EBRD) and $55.74 (€53) million from Raiffeisen Bank International. The EBRD’s contribution is supported by first-loss risk cover under the InvestEU Framework for Sustainable Transition, marking the first application of the InvestEU guarantee in Bulgaria. The sponsor, Tenevo Solar Technologies EAD, is a joint stock company equally owned by Renalfa IPP and Eurowind Energy. Financial close is achieved on November 22, 2024. https://www.ebrd.com/work-with-us/projects/psd/54884.html; https://www.ebrd.com/news/2024/supporting-bulgarias-renewable-energy-transition.html https://www.ebrd.com/work-with-us/projects/psd/54884.html; https://www.ebrd.com/news/2024/supporting-bulgarias-renewable-energy-transition.html