Rezolv Energy has commissioned the 225 MW St. George solar park in Silistra, Bulgaria. The project represents an investment of $300 million. The project incorporates 400,000 solar panels along with a 90 MW/240 MWh battery energy storage system supported by the EU’s Next GenerationEU programme.
Furthermore, the project is expected to generate around 313 GWh of electricity annually for at least 30 years. The project is backed by a long-term virtual power purchase agreement (VPPA) with Ardagh Group. The project has received €90 million in debt financing from the International Finance Corporation and Raiffeisen Bank International.
In March 2026, Etem Gestamp and Rezolv Energy entered into a 10-year cross border VPPA in Bulgaria. Under this arrangement, Etem Gestamp will procure electricity from Rezolv Energy’s 461 MW VIFOR wind farm, located in Buzău County, Romania, which is nearing commissioning. The agreement represents Rezolv Energy’s seventh PPA across Romania and Bulgaria.
