Karadzhalovo Solar Park

The Karadzhalovo Solar Park is a 60.4 megawatt solar farm, the largest in Bulgaria. It has 214,000 photovoltaic panels, and cost 350 million Bulgarian lev.
It has been completed in March 2012 after 4 month of construction.

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 providing EUR 46.1 million
* UniCredit Group - EUR 41.1 million
* OPIC - 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. The selling price has been reported to be equal to the construction price of BGN 350 million.