Rezolv Energy (independent renewable energy producer) has brought its St. George solar park in Silistra, Bulgaria, fully online, marking the completion of the company's first large-scale project and one of the largest solar installations in the country.

The 225 MW facility, built on the site of the former Silistra airport, reached full operational status in under three years from Rezolv Energy's acquisition of the development rights.

A Brownfield Site Transformed

The St. George solar park occupies a 165-hectare brownfield site that previously served as the Silistra airport. The project is intended to demonstrate how disused land can be repurposed to generate both environmental and economic value at scale. The facility is expected to remain operational for at least the next 30 years.

Nearly 400,000 solar panels have been installed across the site, with the park projected to generate around 313 GWh of electricity annually. The total investment in the project stands at approximately USD 300 million.

Alexandar Sabanov, Mayor of Silistra, welcomed the development, saying that the municipality's hosting of a solar power plant of this size places it in a prominent position on the national map. He extended thanks to the Rezolv Energy team for selecting the Polkovnik Lambrinovo site for the project.

Battery Storage and Grid Integration

Alongside its solar generation capacity, St. George includes a 90 MW battery energy storage system with a capacity of 240 MWh. The storage component was supported by a grant under the European Union's NextGenerationEU program.

According to Rezolv Energy, the system is designed to enhance grid flexibility by enabling energy generated during peak sunlight hours to be deployed when demand requires it, supporting overall grid stability.

Financing and Construction Partners

Construction of the project was supported by USD  105.94 million in debt financing provided jointly by the International Finance Corporation and Raiffeisen Bank International.

The engineering, procurement, and construction work was carried out by two EPC partners: Solarpro, a Sofia-headquartered technology integrator described by Rezolv Energy as Eastern Europe's leading firm in that field, and CMC Europe. High-voltage works required for grid connection were delivered by Green Solar Energy, another Bulgarian company.

Long-Term Power Purchase Agreement

Underpinning the project's financial structure is a long-term Virtual Power Purchase Agreement with Ardagh Glass Packaging-Europe, an operating business of Ardagh Group.

Rezolv Energy describes the arrangement as one of the first VPPAs of its kind in Bulgaria. Under the agreement, the deal will supply 110 GWh of renewable electricity annually to Ardagh Glass Packaging-Europe over a 12-year period.

Strategic Significance for Bulgaria and the Region

Rezolv Energy's CEO, Alastair Hammond, described the commissioning as a transformation of an initial vision into reality. "St. George began as a vision to transform a disused brownfield site into a flagship renewable energy project that could make a meaningful contribution to Bulgaria's energy security and climate goals," Hammond said.

"Today, that vision has become reality. Importantly, it also marks Rezolv Energy's transition from builders to operators and long-term custodians of critical clean energy infrastructure."

Jaroslava Korpanec, Head of Central and Eastern Europe Infrastructure at Actis, said the pace of delivery set a benchmark for the wider region. "Delivering a project of this scale in less than three years is an outstanding achievement.

St. George sets a benchmark for how large-scale renewable energy projects can be brought onstream efficiently in Central and Eastern Europe, and will contribute meaningfully to the region's energy security and decarbonization," she said. Actis is a growth market sustainable infrastructure investor that backs Rezolv Energy.

Rezolv Energy's Broader Pipeline

St. George is the first of Rezolv Energy's projects to come onstream, but the company has additional developments underway in the region. Its 461 MW VIFOR wind farm in Romania is currently under construction, with a progress update issued in October 2025 indicating work was moving forward at a pace.

In March 2026, aluminum systems manufacturer Etem Gestamp signed a power purchase agreement with Rezolv Energy to procure clean power from the VIFOR wind farm for its operations in Bulgaria, in what the company described as a landmark cross-border agreement.

Rezolv Energy was also a major winner in Romania's second contracts for difference auction, the results of which were announced in August 2025. The company has also been active in community engagement, offering 100 free training places in renewable energy skills in Buzău County, Romania, in partnership with training provider RenewAcad.

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