📋 Tender Overview
Location: Bulgaria
Project number: 54884
Business sector: Energy
Notice type: Private
EBRD Finance Summary: EUR 50,000,000.00
Total Project Cost: EUR 161,700,000.00
Project Description
Up to EUR 50 million senior secured loan to Tenevo Solar Technologies EAD ("Tenevo Solar", or the "Company"), a project entity registered in Bulgaria. The loan will be dedicated to the construction and operation of a solar PV plant with capacity of 238 MWp in south-eastern Bulgaria (the "Project"). The Project is expected to generate around 332 GWh of electricity a year. The EBRD loan is expected to be approved fully or partially under the EBRD InvestEU Framework for Sustainable Transition (OpID 54197).
Project Objectives
The Project will contribute to climate change mitigation and the Bulgarian green energy transition by adding 238 MW of solar generation capacity to the Bulgarian national energy system. The Project will also be the first sizeable long term project finance of renewable energy projects on a purely merchant structure in Bulgaria. It will also strengthen the private sector presence in the renewable energy sector in Bulgaria. The Project also has a long-term plan to add on a 250MW capacity of behind-the-meter energy storage.
Transition Impact
ETI score: 80
The Project targets the "Green" Transition Impact quality by supporting the construction of a solar project total installed capacity of 238 MWp, resulting in associated CO2 savings of 250,000 tonnes annually.
