Vienna-based independent power producer Renalfa IPP and Danish developer Eurowind Energy have inaugurated the Tenevo hybrid renewable energy complex in southeastern Bulgaria. The site combines a 242 MWp solar photovoltaic (PV) plant with two co-located battery energy storage systems (BESS) totaling 311 MW / 773 MWh.
The site’s storage was developed in two phases: an initial four-hour, 65 MW / 260 MWh system and a second 246 MW / 512.5 MWh system with approximately two hours of storage. The expansion adds substantially more charging and discharging power, rather than simply extending the duration of the original battery.
The initial BESS has been operational since 2025. The full solar plant was commissioned in the first quarter of 2026, according to Renalfa IPP, following repairs to hailstorm damage. The companies expect the complex to generate around 332 GWh of electricity annually.
Renalfa and Eurowind Energy say the hybrid approach is intended to make greater use of the available grid connection. They plan to add more than 250 MW of wind generation, with total investment across all phases expected to exceed €500 million.
The PV plant received €50 million in financing from the European Bank for Reconstruction and Development (EBRD) and €53 million from Raiffeisen Bank International AG (RBI). A further €60 million financing package for the second BESS phase is expected to be signed shortly, according to the companies.
EBRD’s project disclosure puts the cost of the second BESS at €72 million and records approval of a loan of up to €30 million in July. It identifies Hithium as the battery supplier and specifies lithium iron phosphate (LFP) technology, with Solarpro responsible for procurement and installation.
The bank says the absence of a contract-for-difference scheme and other mechanisms to stabilize revenues in Bulgaria has limited long-term lending for merchant renewable projects. It describes its financing as filling a gap in the local market.
Tenevo is also among the first projects in Bulgaria to benefit from a guarantee under the European Union’s InvestEU program, according to the companies.
The project company, Tenevo Solar Technologies, is a 50:50 joint venture between Renalfa IPP and Eurowind Energy. Renalfa IPP is itself a joint venture between Renalfa Solarpro Group and French infrastructure fund manager Rgreen Invest.
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