The Project is being implemented by R-Engineering EOOD, a special purpose company incorporated in Bulgaria, which is indirectly owned by Rezolv Energy SA (“Rezolv”, 100% equity stake).     

Rezolv was established in Luxembourg in July 2022 as an independent renewable energy producer to focus on

investments in renewables in the Eastern European energy market. It is fully owned by Actis LLC (“Actis”)

through its Actis Energy 5 Fund. Actis is a leading investor in global sustainable infrastructure with about

US$12.5 billion assets under management. In January 2024, Actis signed an agreement to be part of General

Atlantic, a leading global growth investor. At completion, the combined platform will have approximately $96 billion in assets under management.                                            

  Total project cost is estimated at approximately EUR170 million including an envisaged long-term debt

financing package of up to EUR100 million. IFC is considering (i) providing an A loan for IFC’s own account of up to EUR 40 million and (ii) mobilizing a Parallel Loan of up to EUR 30 million from the IFC’s Managed Co-Lending Portfolio Program (MCPP). The remainder of the financing package is expected to be provided by a club of commercial banks.                                                 

 Silistra Region, Bulgaria                                 

This is a Category B project as per IFC's Policy on Environmental and Social Sustainability, because potential adverse environmental or social risks and/or impacts are limited, few in numbers, site-specific, largely reversible and readily addressed through mitigation measures.

 Key E&S risks and impacts are expected to include: (i) adequacy of the E&S impact assessments; (ii) the company's & contractor's E&S management capacity & systems; (iii) contractor E&S management; (iv) stakeholder engagement & grievance mechanism; (v) labor & working conditions including occupational health and safety (OHS), workers grievance mechanism, nondiscrimination & equal opportunities, forced labor risks associated with the solar PV supply chain; (vi) emergency planning;  (vii) potential legacy site contamination; (viii) community H&S and project's use of security personnel; (ix) land acquisition and livelihood impacts; (x) potential biodiversity impacts.