Alfa Communications, June 22, 2023

Verilla PV Power Plant

Electrohold Trade will sell the green energy produced by the plant to Yettel and CETIN over the next 10 years

Sofia, 22 June 2023 – The largest solar power plant built so far in Bulgaria – Verila (123 MW), has officially launched production today.

Through the plant, Electrohold Trade will provide Yettel and CETIN with green energy in the next 10 years as the parties have recently signed a power purchase agreement (PPA). This is the largest corporate PPA in Bulgaria to date. It will provide about 80% and 86%, respectively, of the total electricity consumption of the two companies.

Electrohold Trade is the largest licensed electricity trader in Bulgaria and is part of Electrohold Group, owned by the largest publicly-listed holding company in the country – Eurohold. Yettel is one of the leading telecoms and CETIN is one of the major wholesale telecommunications service providers. Both are part of the Czech PPF Group.

The investment in Verila photovoltaic power plant is slightly over BGN 200 million, secured through own funds and financing by DSK Bank and Varengold Bank. The project company is “Belozem Solar Park 3”. Equal partners in it are S Solar and SYZYGY, whose owners are, respectively, the majority shareholders in Eurohold and the owners of 360 Energy, which has been successfully developing and managing renewable energy projects in Bulgaria and the region for the past 12 years. The main contractor of the power plant is the Bulgarian-German company – SUNOTEC – Europe’s  market leader in the construction of utility photovoltaic plants.

Verila PVPP is located on the southern slope of Verila Mountain close to the village of Kraynits, near Dupnitsa, on a land plot of over 1300 acres. Its location at 700-1000 m above sea level on uneven terrain with steep slopes makes the project one of the most challenging and attractive in Europe. 

Karel Kral, CEO of Electrohold Bulgaria

Karel Kral, CEO of Electrohold Bulgaria

The plant contains over 220,000 solar panels and over 4,240 tons of steel structure. During days with intense sunshine, the plant can supply electricity to regions like Kyustendil and Blagoevgrad. The installed capacity of the photovoltaic park constitutes 7%* of the total capacity built so far in this segment in the country. A team of more than 200 SUNOTEC experts was involved in the construction of the plant, which started in September 2022. 

An official event on the occasion of the opening of the Verila PVPP was attended by MEP Tsvetelina Penkova, member of the Committee on Industry, Research and Energy at the European Parliament, the regional governor of Kyustendil, Alexander Pandurski, and the mayor of Dupnitsa, Eng. Metodi Chimev, as well as other official guests and business representatives. The Minister of Energy Rumen Radev sent a congratulatory letter.

Verila PVPP is a big green step in the transition of Bulgaria and Europe towards clean energy from renewable sources. The company’s strategy as one of the leading suppliers on the market is to offer green and sustainable solutions for its customers. Electrohold has a team of professionals with experience in energy management and the necessary infrastructure to expand its population in the RES sector in the near future,” said Karel Kral, CEO of Electrohold, at an opening ceremony of the power plant.

Kiril Boshov, Chairman of the Management Board of Eurohold and Electrohold Sales

Kiril Boshov, Chairman of Eurohold’s Management Board and the Supervisory Board of Electrohold Sales

This project is part of our development strategy. We are already thinking about the next steps – expanding RES capacities and implementing the best form of storage of the produced green energy,” said Kiril Boshov, Chairman of the Management Board of Eurohold and Chairman of the Supervisory Board of Electrohold Sales. In this regard, we expect our portfolio of renewable capacities to reach over 500 MW by the end of the year,” said Kiril Boshov, Chairman of Еurohold’s Management Board and Chairman of the Supervisory Board of Electrohold Sales.

„We are proud to make a vital contribution to Bulgaria’s green electricity mix by building solar power plants like the one in Verila,” said SUNOTEC Founder and CEO Kaloyan Velichkov. 

View Verilla PV PP Opening Ceremony 22 June 2023 on Beautiful.ai

*According to ENTSO-E data on the installed photovoltaic capacities at the end of 2022.

Electrohold Bulgaria

Electrohold Group is 100% owned by Eastern European Electric Company B.V., owned by Eurohold Bulgaria AD. In July 2021, the largest public holding company in Bulgaria acquired seven companies of the Czech state-owned company CEZ a.s., operating in the field of electricity distribution, supply and trade in the country. Electrohold Bulgaria performs coordinating, management and shared services operations for all companies of the group – Electrohold Sales, Electrohold Trade, Electrohold ICT, ERM Zapad, Electrohold EPS and Free Energy Project Oreshets.

Electrohold Trade

Electrohold Trade is the first licensed electricity trader in Bulgaria. From its establishment in 2005 to 2022, the company has supplied nearly 45 billion KWh of electricity to business customers.The company trades in the wholesale market, provides solutions for industrial and corporate customers and operates a leading balancing group.