New project

Bolhrad Energy Park

About the project
Bolhrad Energy Park by Codex Energy

Bolhrad Energy Park is an energy infrastructure asset that generates profit from two independent sources: a solar power plant and an energy storage system, integrated into a single managed Codex Energy system.

The energy infrastructure provides long-term stability and a predictable income model.

24.5% per annum

Average projected return of the model over 10 years in euros

IV’26

Project launch

3 months.

Regularity of interest payments

€6.3 million

Total project budget

6.3 MW / 4.5 MW

Solar power plant capacity

49 years

Land lease term

What is the Bolhrad Energy Park?

The project operates under a hybrid model that combines two sources of income:

— a solar power plant; — two energy storage systems (ESS); — operational management; — a private capital participation model via an energy cooperative.

The project operates on a hybrid model that combines two revenue streams:

Solar Power Plant (SPP) — electricity generation. Energy Storage System (ESS) — electricity storage and participation in the electricity market by leveraging price differentials across different times of day.

Updated financial model

Following an update to the financial model, the company decided to expand the Bolhrad Energy Park by adding a second energy storage unit, thereby increasing the potential efficiency of the entire energy asset.

The project is being implemented in Bolhrad, Odesa region.

Southern Ukraine possesses strong potential for solar energy development due to high insolation levels and a large number of sunny days per year. For Codex Energy, this location is significant not only for generation purposes but also for the development of the region’s energy infrastructure.

A powerful location with high spawn rates

Southern Ukraine receives approximately 1,400–1,600 kWh/m² per year and has more than 260–280 sunny days, which allows for stable electricity generation throughout the year.

Access to a broader consumer market

Its location near the border (∼20 km from Moldova) places the project within a broader energy context, where demand is not limited to local consumption.

Stable demand for electricity

The shortfall in electricity generation in Ukraine creates a constant demand for electricity, which provides a market for the electricity produced.

Automated Work Model

Power generation and key management processes are designed to minimize human error, which reduces operational risks and enhances system stability.

Optimized delivery times

The project is being implemented according to a clear timeline, which shortens the time from project initiation to the start of revenue generation.

What stage is the project currently in?

The project is currently in the active implementation phase.

Following an update to its financial model, Codex Energy has made a strategic decision to expand the Bolhrad Energy Parkby adding a second energy storage unit with a capacity of 3 MW and a capacity of 10 MWh.

At the same time, scaling up the project does not affect the launch schedule for the main generation facility — the second UZE is being implemented as a separate infrastructure component, so the planned commissioning dates remain unchanged.

What Does a Project Participant Receive?

Project participants have the opportunity to become part of an energy asset without having to build, commission, or operate the plant themselves.

Codex Energy handles the entire process:

— development
— technical training
— structuring the model
— construction
— launch
— operational management
— working with contractors
— regular reporting
— support for participants

For the participant, this is a form of passive investment in an energy infrastructure asset.

Legal Model

The participation model is implemented through an energy cooperative.

The investor is granted the status of an associate member of the cooperative and the right to a share.

Important points to note when drafting the article:

— use a “contribution”
— use the term “associate member of the cooperative”
— use “project participant”
— Indicate the return as “estimated” or “potential”
— Do not present returns as guaranteed