Danish developer Eurowind Energy has formed a joint venture with Bulgarian investment group Renalfa aimed at the renewable energy market in Bulgaria.
The JV, called EURA Energy, holds a development portfolio of wind, solar and power-to-X projects with a combined capacity of more than 1GW and is working to expand the portfolio in the country.
The first project to be realised by the JV is expected to be the 200MW-plus Tenevo solar farm, located in south-eastern Bulgaria.
Tenevo is planned for construction in the first quarter of 2023.
Renalfa is a privately owned Bulgarian clean energy and e-mobility investment group.
Through its subsidiary Solarpro, the group is an installer, EPC and O&M provider of solar services, as well as smart energy management systems, the partners said.
Solarpro chief executive Konstantin Nenov said: “We are very happy to announce our partnership with Eurowind on Bulgarian energy market.
“The combined scale and experience of both companies in wind, solar, storage and PtX projects will allow our joint company EURA Energy to play key role in the Bulgarian energy transition and to offer clean energy and clean hydrogen at very competitive terms to the market.”
Eurowind Energy has developed, constructed and operates energy parks in 14 European countries and US.
It has constructed more than 2.5GW in Europe and already has a small operating solar park in Bulgaria.
Eurowind Energy chief executive Jens Rasmussen said: “We see Bulgaria as a very interesting market for years to come.
“Like any other European country, there is a need for more power combined with a green transition of the whole energy system.
“Solar, wind and PtX plays a part in that transition and is the cheapest way to establish new generational capacity: we believe that the combined capabilities of Renalfa and Eurowind can make a real impact in the market.”
“We have worked with Solarpro on the construction of two Danish hybrid parks and we have come to appreciate their professionalism and their attitude to our partnership.
“We believe we found the right partner to help us build the footprint in Bulgaria.”