Solar Vramis Tender

Project ID: 55973
Status: In Exploratory, Pending Concept Review
Location: Bulgaria
Business Sector: Energy
Notice Type: Private
Environmental Category: B
Approval Date: 10 Sep 2025
Disclosure date: 07 Aug 2025

Project Description
Provision of a senior secured limited-recourse loan of up to EUR 50 million in favour of Solar Vramis AD (the "Borrower" or the "Company"), a joint stock company incorporated in Bulgaria. The loan proceeds will be used to finance the development, construction, and operation of a 171.5 MWp solar PV plant in the Pernik region of Wester Bulgaria (the "Project"). The EBRD loan is part of a broader EUR 136m financing that supports the development, construction, and operation of a 480.2 MWh portfolio of co-located and standalone battery energy storage system (BESS) projects in Bulgaria. The EBRD loan is expected to be approved under the EBRD InvestEU Framework for Sustainable Transition.

Project Objectives
The Project will support climate change mitigation by adding 171.5MW of greenfield solar generation capacity to the Bulgarian national energy system. With its merchant exposure, the Project will also strengthen private sector participation in the renewable energy sector in Bulgaria by reducing reliance on government support schemes while expanding hybrid renewable energy systems.

Transition Impact
ETI score: 60

The Project targets the "Green" Transition Impact quality by supporting the construction of a 171.5MWp solar PV project resulting in associated CO2e savings of 168,000 tonnes annually.