Renalfa AD, a Bulgarian investment group, and Eurowind Energy A/S, a Danish developer, are pleased to announce the formation of EURA Energy, a co-owned joint venture company focusing on the Bulgarian renewable energy market.
EURA Energy has a development portfolio of wind, solar, and PtX (Power-to-X or production of Hydrogen from renewable energy) projects with a combined capacity of more than 1 GW in Bulgaria, and is working to expand the portfolio.
Renalfa AD is a Bulgarian clean energy and e-mobility investment company that is privately owned. The Group is a leading European installer, EPC, and O&M provider of PV services, as well as smart energy management systems, through its subsidiary Solarpro. Solarpro has completed multi-GW of full EPC and light EPC projects in a variety of European and Middle Eastern countries. Solarpro currently has a portfolio of over 1 GW under construction. The Group employs over 1000 people in 14 countries across Europe, North and South America, and the Middle East and North Africa.
“We are very happy to announce our partnership with Eurowind on 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 key role in the Bulgarian energy transition and to offer clean energy and clean hydrogen at very competitive terms to the market.”, said Konstantin Nenov, CEO of Solarpro.
Eurowind Energy A/S develops, builds, owns, and operates wind farms in 15 European countries and the United States. The Danish developer has built over 2.5 GW in Europe and has a small solar park in Bulgaria that is already operational. The firm was one of the first in Europe to invest in utility-scale PtX projects.
Jens Rasmussen, CEO of Eurowind Energy said: “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: We believe that the combined capabilities of Renalfa and Eurowind can make a real impact in the market.”
“We have worked with Solarpro on the construction of two Danish hybrid parks and we have come to appreciate their professionalism and their attitude to our partnership. We believe we found the right partner to help us build the footprint in Bulgaria.”
The 200+ MWp solar project Tenevo, located in south-eastern Bulgaria, is expected to be EURA Energy’s first project. Tenevo Solar Park is scheduled to open in the first quarter of 2023.
