BULGARIA: ContourGlobal advances debt financing for recently commissioned 500 MWh BESS
ContourGlobal has this month commissioned a 200 MW / 500 MWh BESS project in Bulgaria, while the project financing for the scheme is also now well-advanced.
The KKR-backed IPP has built the project on the site of the decommissioned Maritsa East 3 coal-fired power plant, and aims to add co-located solar PV at a later date, ContourGlobal head of Europe & Africa Carlo Zorzoli told delegates at the Energyear Investment, Solar & Storage 2025 conference in London on November 25.
The all-in investment cost of the project is around EUR 90m, with the group now in late-stage talks with “an international project finance lender with a Bulgaria subsidiary,” to provide a project finance package “at 50% leverage”, Zorzoli said.
The project is currently operating “on a merchant basis,” Zorzoli added.
The co-located solar element is forecast to come to around 100 MW.
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