Solar energy. Sustainable future.

Who we are

Renewables and Energy Efficiency Facility

Renewables are one of the major drivers of the global energy transition. Solar energy proved to be a well-established and highly efficient technology with wide range of applications to power households, industrial facilities and means of transport.

The Renewables and Energy Efficiency Facility (REEF) has been established with the aspiration to invest and participate in creation of sustainable energy solutions. The company is a solar PV project developer with its activities ranging across the full project cycle development value chain. We are backed by our shareholder, ODACIO Corp., a private investment entity with strong financials and interests in renewable energy investments.

We identify and capture business opportunities in high potential European markets with focus on unsubsidised utility-scale solar PV projects. Applying relevant and flexible business models, we aim to create shareholders value through building sustainable business with high equity return and manageable level of risk. Our team's expertise, industry knowledge, experience and track record of success are just some of our strengths. We act with social responsibility by engaging with diverse range of stakeholders.

Our Vision

Climate changes are taking their tolls. It is our strong belief that reducing carbon footprint through renewable energies and investing in sustainable energy solutions across all sectors of the world economy will deliver political, economic, technological, social and environmental benefits.

Therefore, we aspire to be an active participant in the energy transition process through creating and implementing sustainable energy solutions. Our work and investments will become our contribution for a better and sustainable world.

We aim to develop, build and operate solar PV power plant projects to deliver clean energy to households, industries and transport systems at competitive levelised cost of energy (LCOE) to contribute to economies' development and people's lives improvement.

Our Values

Business Integrity

We believe meeting our commitments, being honest to a fault, having strong and consistent moral code of conduct, building and maintaining trust will enhance our capabilities and will support respective business sustainability.


We strive to excel in our planning and operations with strong commitment to high quality outcomes as our ambition to succeed is underpinned by applying what we learnt and what we know alongside continuous improvement.

Respect for people

We believe that treating everyone with respect can make problem solving more efficient, make work more productive and satisfying, move organisational performance to a higher level hence we have respect for our counterparts, for our clients, for our team members.


We value our team members for their diversity in terms of gender, origin, academic background, professional experience, opinion and approach to problem solving as we believe a broad diversity is one of the keys to create and operate a successful business.


We combine our team members knowledge, skills and expertise that enable us to deliver outstanding results as a team's competence is always greater than an indivdual's one.

Ethical business behaviour

We adhere to an established strong code of conduct and business practices that are fully compliant with the respective legal and regulatory requirements, comprise wide-accepted moral norms and demonstrate no tolerance to any practices that deviate from the above.

Business Overview

Comprehensive and highly efficient solar energy solutions

We identify, analyse and capture relevant business opportunities in the utility- scale segment of the market.

Our expertise enables full cycle project development delivery and through our partnerships engineering, procurement and construction (EPC) to deliver highly efficient and technologically advanced turn-key solutions to achieve Commercial Operation Date (COD).

Leveraging on our team's professional background and industry proven track record, we offer tailor-made solutions by applying most relevant business model to deliver high equity returns to meet even quite demanding investors' expectations.

Target Markets

At current, Europe sees resurgence of its solar power markets. Solar modules and balance of systems technologies fast development have significantly reduced the capital expenditure and optimised O&M costs.

The renaissance of the utility scale segment of the market, driven by achieved grid parity became a major market driver in Spain, Italy and Portugal.

These are markets that we operate in as the economy fundamentals, underlying project economics and energy demand build strong and compelling business cases for REEF.

Our Team

Our team members brings long-standing business experience and proven track record and achievements accomplished in their careers so far. The diversity of knowledge and skills create the corner stones of its strength. Team's strong international focus, experience and renewable energy professional network contribute to our competitive advantages.

Hristo Ibouchev
Hristo Ibouchev

Private investor with proven track record as a business executive at a large, export-oriented, private company where was instrumental of establishing and running operations with business partners in over 100 countries in the Americas, Africa, the Middle East and Southeast Asia.

Hristo earned his Bachelors of Science degree in Mechanical Engineering (Robotics and Systems Control) from Drexel University, Pennsylvania, USA and holds an MBA from the Trium MBA Executive MBA Programme ( New York University Stern School of Business, London School of Economics and HEC, Paris). Hristo has also attended Harvard University Executive Education courses. He is fluent in Bulgarian, Russian, English and Spanish.

Nevena Suleva
Nevena Suleva
Senior Advisor

Nevena has 15+ years' experience in the banking sector with broad management experience and expertise in product and business development, financial analysis and market opportunities assessment.

Nevena holds BSc in Accounting and currently doing her MBA studies with the University of Sheffield, UK. She speaks Bulgarian, Russian and English.

Theodore Tsacheff
Theodore Tsacheff
Senior Advisor

Theodore has significant business experience across the energy industry ranging from oil to renewables. He has previously worked in various expert and management positions for a number of international oil companies including Royal Dutch Shell.

He has been active in the renewables industry and solar PV in particular for over 10 years as Theodore brings experience and expertise in business development, solar PV projects development, acquisitions and divestment, project finance and general management.

Theodore holds a Bachelors degree in Scientific Information & Information Technologies and an MBA from Ashridge Business School, United Kingdom. He is fluent in Bulgarian, English and Russian.


We build upon relationships with trusted partners

In the spirit of our values of business integrity and excellence, we build upon on working with the best in the industry, in their respective field of expertise: legal and tax advisors, technical consultants, module manufacturers and EPC companies, leading international investment entities.

Our partners network, resources and capabilities complement ours to enable delivery of outstanding business results.