Solarpro, GreenYellow to Construct PV Plants in Eastern Europe

Source: www.gulfoilandgas.com 7/27/2021, Location: Europe

The leading PV group “Solarpro” and “GreenYellow”, an expert in decentralized solar photovoltaic production, energy efficiency projects and energy services, announced the start of a strategic partnership in co-investing in large scale on-site self-consumption solar power plants in Eastern Europe. The first joint project will be a 4 MWp photovoltaic power plant (PVPP) developed for the global leader in materials, chemicals and solutions – “Solv?y” in Bulgaria. On an annual basis the PV plant will produce 5300 MWh green energy.

The PV power plant will be built on an industrial land plot of Provadsol, a “Solv?y – Sodi” subsidiary in Bulgaria. The plant will operate on the basis of Solar as a Service (SaaS) agreement. “GreenYellow” is acting as a lead investor, when Solarpro has developed and will build and operate the asset.

“The Self-consumption PVPP and SaaS are the most attractive part of the energy transition. We have already successfully completed similar type of projects with other commercial and industrial groups in the region. Partnering with “GreenYellow” will scale-up all necessary resources – human capital, technical experience and funding to accomplish in near future at least 100 MWp in Eastern Europe.”, said Konstantin Nenov, CEO of “Solarpro”.

“The price hikes on the energy markets have catalyzed the interest for SaaS, but also to long term power purchase agreements (PPA’s) for green energy from our industrial partners in Europe. The start of the partnership will allow us to address this demand in the immediate term.” added Mr. Nenov.

“With this strategic partnership with Solarpro, GreenYellow continues its international expansion, in line with its strong growth ambitions. Thanks to this partnership, we aim to develop 100MWp of installed capacity by 2025” stated Mr. Otmane Hajji, CEO of “GreenYellow”.


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