Solarpro and GreenYellow started the construction of the first PV project from their strategic partnership for Eastern 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 - “Solvаy” 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 “Solvаy – 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.
Solarpro is one of the leading clean energy platforms in Eastern Europe, where it offers a full range of renewable energy services including investments in generation assets, project development and construction services, operations and maintenance, balancing and trading, energy storage and other services. As a general contractor and solar energy construction services provider, Solarpro group is a global player with multiple gigawatts of installed capacity PV projects and projects for over 1 GWp are currently under construction. The group employs over 1,000 highly skilled employees full time with substantial experience and expertise.
In 14 years, GreenYellow has become a major player in the energy transition in France and abroad and a true ally of companies and public communities in this field. As an expert in decentralized solar photovoltaic production, energy efficiency projects and energy services, GreenYellow offers its clients a unique and global platform to empower them to make their energy transition a beneficial and committed reality.
By March 31, 2021, GreenYellow had developed 355 MWp of photovoltaic capacity, of which 184 MWp are partly or fully owned, nearly 2,600 energy efficiency agreements representing an annual volume of 855 GWh, of which 511 GWh are partly or fully owned, and was managing more than 2.9 TWh of energy for its clients.
GreenYellow is constantly expanding its offering through innovation to meet the needs of private and public players and to help them reduce their environmental footprint.
Operating in 16 countries on 4 continents, the company has more than 500 employees worldwide.