Helios Projects Pobeda 1

Financing the acquisition of one of the largest photovoltaic plants in Bulgaria

Februaryesg

Solar is one of the most environmentally friendly energy sources, as its production poses almost no harm to the environment and helps to mitigate harmful emissions from non-renewable sources. And, as reported by the Bulgarian Photovoltaic Association, substantial progress has been made in employing solar panels to meet the growing demand for renewable energy in the region.

One initiative that is evidence for that progress is the Helios Project, which began in 2012 and was completed in 2023. The €65 million project, backed by funding from UniCredit Bulbank and a 20-year electricity output contract, saw the acquisition of a foreign-investor-built photovoltaic park in the Plovdiv region of Bulgaria – one of the largest photovoltaic plants in the country with a capacity of 50 MWh. 

This was an international partnership across China, Switzerland and Bulgaria, involving a publicly traded company on the Shanghai Stock Exchange, partially financed by the China Development Bank.

Alexander Krustev

Under its ESG strategy to provide financial support to companies and projects related to renewable energy and climate change, UniCredit Bulbank supported Helios Project in the structuring of a solar power acquisition project in Northern Bulgaria, including the refinancing of the Chinese Development Bank."

Alexander Krustev

Head of Advisory and Specialised Lending at UniCredit Bulbank

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