Karadzhalovo Solar Park

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Karadzhalovo Solar Park
CountryBulgaria
LocationKaradzhalovo Parvomay Municipality
Coordinates42°06′17″N 25°19′18″E / 42.10472°N 25.32167°E / 42.10472; 25.32167Coordinates: 42°06′17″N 25°19′18″E / 42.10472°N 25.32167°E / 42.10472; 25.32167
StatusOperational
Commission dateMarch 2012
Construction costBGN 350 million (around $248 million)
Owner(s)
Solar farm
TypeFlat-panel PV
Power generation
Units operational214,000
Nameplate capacity60.4 MW
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The Karadzhalovo Solar Park is a 60.4 megawatt (MW) solar farm, the largest in Bulgaria. It has 214,000 photovoltaic panels,[1] and cost 350 million Bulgarian lev[2] (approximatively $248 million).[3] It has been completed in March 2012 after 4 month of construction.[2]

Financing[]

The total project cost amounting to 181.4 million in Euro was financed by:[1]

  • a loan of EUR 155 million from a group of investors led by IFC with
    • IFC (International Financial Corporation) providing EUR 46.1 million
    • UniCredit Group - EUR 41.1 million
    • OPIC (Overseas Private Investment Corporation) - EUR 50 million
  • UniCredit Bulbank Bulgaria completed the investment with a separate EUR 30 million loan

Three month after completion, it was resold to the Malta-based ACF Renewable Energy, which is reported to be owned by investors from the US, Sri Lanka, India and Pakistan.[4] The selling price has been reported to be equal to the construction price of BGN 350 million.[5]

See also[]

References[]

  1. ^ a b Guide-Bulgaria : US SunEdison built near village of Karadzhalovo the biggest solar park on the Balkans
  2. ^ a b Guide-Bulgaria: US company sold its solar station in village of Karadzhalovo
  3. ^ Solar Investment Slumps in Q1 2012; Companies Come Together and Join Forces to Pull Through
  4. ^ Seenews.Renewables : SunEdison sells 60-MW Bulgarian solar park to ACF Renewable - report
  5. ^ BPVA : Sun Edison Sells $220 Million Bulgarian Solar Park, Capital Says
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