Samiksha Jaiswal (Editor)

Karadzhalovo Solar Park

Updated on
Edit
Like
Comment
Share on FacebookTweet on TwitterShare on LinkedInShare on Reddit
Country
  
Bulgaria

Owner(s)
  
ACF Renewable Energy

Units operational
  
214000

Commission date
  
March 2012

Type
  
Flat-panel PV

Karadzhalovo Solar Park i2ytimgcomvieYnuBJW3q5cmqdefaultjpg

Location
  
Karadzhalovo Parvomay Municipality

Construction cost
  
BGN 350 million (around $248 million)

The Karadzhalovo Solar Park is a 60.4 megawatt (MW) solar farm, the largest in Bulgaria. It has 214,000 photovoltaic panels, and cost 350 million Bulgarian lev (approximatively $248 million). It has been completed in March 2012 after 4 month of construction.

Financing

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

  • 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. The selling price has been reported to be equal to the construction price of BGN 350 million.

    References

    Karadzhalovo Solar Park Wikipedia
    (Text) CC BY-SA