Karadzhalovo Solar Park

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Karadzhalovo Solar Park
Karadzhalovo Solar Park is located in Bulgaria
Karadzhalovo Solar Park
Location of Karadzhalovo Solar Park
Country Bulgaria
Location Karadzhalovo Parvomay Municipality
Coordinates 42°06′17″N 25°19′18″E / 42.10472°N 25.32167°E / 42.10472; 25.32167Coordinates: 42°06′17″N 25°19′18″E / 42.10472°N 25.32167°E / 42.10472; 25.32167
Commission date March 2012
Construction cost BGN 350 million (around $248 million)
Owner(s) ACF Renewable Energy
Solar field
Type Flat-panel PV
Power generation
Units operational 214,000
Nameplate 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[2] (approximatively $248 million).[3] It has been completed in March 2012 after 4 month of construction.[2]


The total project cost amounting to 181.4 million in Euro was financed by:[1]

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

See also[edit]