Bulgarian investment group Renalfa and Danish renewable energy developer Eurowind Energy set up EURA Energy, a co-owned joint venture company aimed at the Bulgarian renewable energy market, the two companies said on Friday.
EURA Energy holds a development portfolio of wind, solar and Power-to-X, or production of hydrogen from renewable energy (PtX ) projects with a combined capacity of more than 1 GW and is working to expand the portfolio in Bulgaria, Eurowind Energy and Renalfa said in a joint statement.
The first project to be realised by EURA Energy is expected to be the solar project Tenevo, located in the south-eastern part of Bulgaria. The construction of Tenevo Solar Park, which will have a capacity of over 200 MWp, is planned for the first quarter of 2023.
Renalfa is the parent company of Sofia-based provider of products and services for the solar industry Solarpro Holding. Through Solarpro, the Renalfa group is a leading European installer, engineering, procurement and construction (EPC) contractor, and operation and maintanance provider for photovoltaic and smart energy management systems.
"We are very happy to announce our partnership with Eurowind on the 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 a key role in the Bulgarian energy transition and to offer clean energy and clean hydrogen at very competitive terms to the market," Solarpro CEO Konstantin Nenov said in the statement.
Solarpro’s track record includes multi-GW of completed projects for full EPC or light EPC in many European and Middle East countries. The current Solarpro portfolio under construction is over 1 GW.
Hobro-based Eurowind Energy is engaged in the development, construction and operation of energy parks in 15 European countries and in the U.S. The developer has constructed more than 2.5 GW in Europe and already has a small operating solar park in Bulgaria, the statement reads.
"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,” Jens Rasmussen, CEO of Eurowind Energy, said in the statement.
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