EXECUTIVE SUMMARY
A major hybrid renewable energy complex has opened in South-Eastern Bulgaria, combining 242 MW of solar with 311 MW/773 MWh of co-located battery storage. Developed by Renalfa IPP and Eurowind Energy, Tenevo is backed by EBRD and Raiffeisen Bank International financing, with InvestEU guarantee support.
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A renewable energy independent power producer Renalfa IPP and Eurowind Energy A/S officially inaugurated the Tenevo hybrid renewable energy complex in South-Eastern Bulgaria on 30 September 2026. Described by the developers as one of Europe’s largest hybrid renewable energy platforms, the complex combines a 242 MWp solar photovoltaic plant with two co-located battery energy storage systems totalling 311 MW/773 MWh. The facility is expected to generate approximately 332 GWh of clean electricity annually. Solarpro Holding served as EPC contractor and project manager.
The project combines renewable generation and battery storage at the same site to make greater use of the available grid connection. According to the developers, the configuration is intended to strengthen grid resilience, facilitate higher shares of renewable electricity in Bulgaria and provide flexible, market-oriented power.
The European Bank for Reconstruction and Development (EBRD) and Raiffeisen Bank International AG (RBI) are financing the complex. The financing includes EUR 50 million from EBRD and EUR 53 million from RBI for the PV portion. A total of EUR 60 million for the second phase of the BESS is expected to be signed shortly. Tenevo is also among the first projects in Bulgaria to benefit from a guarantee under the European Union’s InvestEU programme.
The PV plant and first phase of the BESS have been operational since 2025. The developers plan to expand the hybrid platform further by adding more than 250 MW of wind capacity.
Across all phases, investment in the Tenevo complex is expected to exceed EUR 500 million. The site is located next to a coal region undergoing transition, giving the development additional relevance to Bulgaria’s just transition and regional economic transformation.
Renalfa IPP and Eurowind Energy said the hybridization strategy is designed to maximize existing grid connections by combining renewable generation with energy storage. The project therefore brings utility-scale solar generation and substantial battery capacity together within a single renewable energy platform.