ACWA Power closes divestment of 60.4 MWp Karadzhalovo solar PV project

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

ACF Renewable Energy Limited, a subsidiary of ACWA Power has completed a sale of its 100% stake in ACWA Power CF Karad PV Park EAD (ACWA Power Karad), owner of the 60.4 MWp Karadzhalovo photovoltaic (PV) power plant in Bulgaria to Enery Development GmbH, an Austrian investor and project developer in the renewable energy sector, for an undisclosed consideration.

Furthermore, ACWA Power’s subsidiary NOMAC Limited, has also completed the sale of its 100% stake in NOMAC Bulgaria, a company providing Operations & Maintenance (O&M) services to the ACWA Power Karad plant, to Enery Development GmbH for an undisclosed consideration.

The Karadzhalovo power plant, which is the largest single-site PV plant in Bulgaria, generated 85.56 GWh of carbon-neutral energy in 2019.

Raiffeisen Bank International AG acts as the exclusive financial advisor to the sellers and CMS Sofia serves as the legal advisor to the sellers.

List of the country updates

Country updates

  • September 08, 2020

    Enery Development to build 400 MW solar project in Haskovo

    Austrian energy developer, Enery Development, is planning to build a 400 MW solar photovoltaic plant in the municipality of Haskovo in southern Bulgaria.  The project will be developed thro...

    Read more
  • October 31, 2019

    Quercus offloads 320 MW of solar, wind assets

    Quercus Investment Partners has sold 320 megawatts of wind and solar power assets to Italian private equity Green Arrow Capital (GAC) for an undisclosed amount. The solar and power assets are active...

    Read more
  • October 29, 2019

    Bulgaria’s competition regulator blocks Eurohold's bid to CEZ

    Bulgaria’s competition regulator has moved to block the bid of the insurance and financial group Eurohold’s 4EH.BB to acquire the Bulgarian assets of Czech utility CEZ for a total con...

    Read more
  • September 25, 2019

    Bulgaria is set to terminate PPA deal with Maritsa 3 coal-fired project

    The Government of Bulgaria is set to terminate the power purchase agreement (PPA) deal forged with ContourGlobal for its 908 MW Maritsa East 3 coal-fired power plant.  The 15-year PPA...

    Read more
  • August 30, 2019

    EOIs in for 2 GW Belene nuclear power plant project in Bulgaria

    The Bulgarian Government has received a total of seven expressions of interest for the 2GW Belene nuclear power plant. The seven companies that submitted proposals are interested in becoming a st...

    Read more

Share this update