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Rezolv Energy, an independent power producer backed by Actis, has secured up to €90 million in debt financing from the International Finance Corporation (IFC) and Raiffeisen Bank International to support the construction of the ‘St. George’ solar park in north-eastern Bulgaria.

Actis-backed Rezolv Energy has selected three companies – CMC Europe, Solarpro and Green Solar Energy – to build the 229MW ‘St. George’ solar park in Silistra Municipality in Northeastern Bulgaria. Construction work is due to start very shortly, with the plant coming onstream next year.

Ardagh Glass Packaging-Europe (AGP-Europe), an operating business of Ardagh Group, announced today that it has entered a long-term Virtual Power Purchase Agreement (VPPA) with Rezolv Energy’s St. George solar photovoltaic (PV) project in Bulgaria, securing renewable electricity for its glass manufacturing operations across Europe from April 2026.

Rezolv launched 18 months ago to accelerate the energy transition in Central & South Eastern Europe. We already have well over 2GW of clean energy being prepared for construction. This includes St. George, which will become one of Bulgaria’s largest solar plants, and Dama Solar, which will be the largest solar project anywhere in Europe once it is operational. We also have more than 1GW of wind power under construction in Romania.