Tenevo Hybrid Complex Begins Commercial Operations
Renalfa IPP and Eurowind Energy have officially begun commercial operations at the Tenevo hybrid renewable energy complex in Bulgaria. The massive project features 242MWp of solar photovoltaic (PV) capacity coupled with 311MW/773MWh of co-located battery energy storage systems (BESS). The first phase of the BESS, comprising 65MW/260MWh, is already fully operational, with the complex set to expand further with an additional 250MW of wind power.
The Tenevo project is jointly owned by Renalfa IPP—a joint venture between Austria’s Renalfa Solarpro Group and France’s RGreen Invest—and Danish developer Eurowind Energy. This strategic partnership underscores the strong cross-border investment interest in Bulgaria's rapidly growing energy storage sector.
Robust Financing and EU Support
The project's development was supported by significant financial backing. The solar PV component secured €50 million from the European Bank for Reconstruction and Development (EBRD) and €53 million from Raiffeisen Bank International in 2024. Furthermore, a €60 million financing package for the second phase of the BESS is set to be signed shortly. Notably, the Tenevo project secured the first guarantee under the InvestEU programme, highlighting its alignment with European energy transition goals.
Bulgaria's BESS deployment is heavily supported by EU funding via the RESTORE programme, which allocated BGN1.15 billion to 82 projects to accelerate national storage targets.
Bulgaria currently leads globally in battery storage capacity relative to its power system, with around 5.4GW of operational BESS. Research by Ember indicates that in 2025, Bulgaria installed enough BESS to shift 77% of its newly installed daytime solar capacity, demonstrating the critical role of storage in maximizing renewable integration.
Source: PV Tech, Energy Storage News
This article was assisted by AI analysis. Please refer to the original source for official information.