BDB Backs the Success of a Unicorn – a Company Valued at Over $1 Billion.

Smart Energy is one of Europe’s leading companies in the field of renewable energy. It owns photovoltaic power plants in Bulgaria, Turkey, Greece, Romania, and Ukraine, and has offices in nine countries.

The company’s owner, Halil Demirdag, now enjoys unprecedented success in the design and construction of solar parks.

But the road to unicorn status was not an easy one.

“In 2009, the topic of green energy had only just appeared in Bulgaria. Banks and investors still had no experience with photovoltaic projects”, recalls Demirdag, who has Bulgarian roots. At that time, Smart Energy was taking its first steps in solar energy investments.

“BDB had already expressed its commitment to Europe’s green goals and was ready to consider our project. We met a highly qualified team that understood the field - as befits a true development bank”, the entrepreneur adds.

The project was one of the first large-scale initiatives - 20 MW in total - built in Bulgaria in 2011. The results exceeded expectations, and this endeavor, financed by BDB, became one of the country’s first significant steps toward reducing its carbon footprint.

Halil Demirdag remains grateful to the bank for its trust and for turning good projects into reality.

“Since then, the situation in Bulgaria and worldwide has changed dramatically, and it’s no longer difficult to discuss financing a 100 MW solar park. Today, we have built more than 1 GWp of capacity at home and abroad, but the very first project will always hold a special place in our hearts”, says the Smart Energy founder.