Karadzhalovo Solar Park Explained

Karadzhalovo Solar Park
Country:	Bulgaria
Location:	Karadzhalovo Parvomay Municipality
Commissioned:	March 2012
Cost:	BGN 350 million (around $248 million)
Owner:	ACF Renewable Energy
Solar Type:	PV
Ps Units Operational:	214,000
Ps Electrical Capacity:	60.4 MW

The Karadzhalovo Solar Park is a 60.4 megawatt (MW) solar farm, the largest in Bulgaria. It has 214,000 photovoltaic panels,^[1] and cost 350 million Bulgarian lev (approximatively $248 million).^[2] It has been completed in March 2012 after 4 month of construction.^[3]

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.^[4] The selling price has been reported to be equal to the construction price of BGN 350 million.^[5]

See also

• Photovoltaic power station
• List of largest power stations
• List of photovoltaic power stations

Notes and References

1. http://news.guide-bulgaria.com/SC/Plovdiv/Parvomay/Karadjalovo/News.aspx?9728=US_SunEdison_built_near_village_of_Karadzhalovo_the_biggest_solar_park_on_the_Balkans Guide-Bulgaria : US SunEdison built near village of Karadzhalovo the biggest solar park on the Balkans
2. http://www.renewableenergyworld.com/rea/partner/green-power-conferences-3234/news/article/2012/04/solar-investment-slumps-in-q1-2012-companies-come-together-and-join-forces-to-pull-through Solar Investment Slumps in Q1 2012; Companies Come Together and Join Forces to Pull Through
3. http://news.guide-bulgaria.com/SC/Plovdiv/Parvomay/Karadjalovo/News.aspx?9789=US_company_sold_its_solar_station_in_village_of_Karadzhalovo Guide-Bulgaria: US company sold its solar station in village of Karadzhalovo
4. http://renewables.seenews.com/news/sunedison-sells-60-mw-bulgarian-solar-park-to-acf-renewable-report-287771 Seenews.Renewables : SunEdison sells 60-MW Bulgarian solar park to ACF Renewable - report
5. http://www.bpva.org/en/articles/article903.html BPVA : Sun Edison Sells $220 Million Bulgarian Solar Park, Capital Says