A EUR 78 million financing package will support the first 70 MW phase of the Strazhitsa wind farm near Bulgaria’s Black Sea coast, marking an important return of large-scale wind investment to the country after years of limited activity.
Postbank is providing long-term financing for the project near Balchik, while the total investment is estimated at approximately EUR 100 million. Developer Tessa Green Energy has secured EUR 78 million from the bank for the development.
According to Postbank, Strazhitsa is the first Bulgarian wind project of comparable scale to secure financing since 2012, highlighting the renewed interest in utility-scale wind projects as Bulgaria seeks to diversify its renewable generation portfolio.
The wind farm will be developed in several phases. The initial phase will consist of 11 Vestas EnVentus V162-6.4 MW turbines, providing a total installed capacity of 70 MW. Commercial operations are expected to begin in the fourth quarter of 2027.
The project is also intended to serve as the foundation for a broader renewable energy portfolio by Tessa Green Energy, rather than as a standalone investment. The developer plans to use Strazhitsa as an initial step toward further wind development in the region.
For Bulgaria, the project comes at a significant moment for the country’s renewable energy market. Solar capacity has expanded rapidly in recent years, while new wind development has faced permitting, grid and financing challenges. The return of a bank-financed utility-scale wind project could therefore provide an important reference for other developers seeking to bring projects from development into construction.
Postbank said the transaction demonstrates how renewable energy investments can combine economic development with environmental benefits, while supporting Bulgaria’s efforts to increase clean electricity generation and meet its national and European Union energy objectives.
If delivered as planned, Strazhitsa could become an important signal that Bulgaria’s wind market is entering a new investment cycle, with bankable projects and long-term financing once again supporting the development of large-scale wind capacity.
