/SOFIA, BULGARIA, December 18, 2025, 10:00 CET, Enery/
Enery has secured a green financing package from DSK Bank AD for its flagship 600 MWh battery energy storage system (BESS) in Nova Zagora, Bulgaria. The transaction marks one of the country’s most advanced storage financing deals to date, supporting Bulgaria’s transition toward a more flexible and renewable-powered energy system.
The financing enables the construction and operation of the standalone 150 MW/600 MWh facility scheduled for commissioning in March 2026. A key feature of the deal is an innovative Virtual PPA-based deal with Vitol, securing long-term, predictable income for the asset. The agreement is aligned with the Nova Zagora asset’s operational profile, ensuring revenue stability and bankability.
The project features its own substation and will be connected to a new 33/110 kV substation, which is part of the transmission grid. “Sophisticated instruments such as Virtual financial deals, combined with Enery Portfolio Optimization’s best-in-class physical optimization services, are now key to unlocking bankable storage projects. This transaction demonstrates how innovative commercial structures, when paired with disciplined execution, can create long-term value for both lenders and project sponsors. I am extremely proud of the Enery team, whose dedication and expertise were instrumental in bringing this complex project to a bankable outcome.”, said Severin Vartigov, Chief Commercial Officer at Enery.
“We are pleased to enable this project, which we intend to be the first of many in partnership with Enery. Vitol has experience in developing, owning, and optimizing BESS in Australia, Europe, and the US, and is well placed to support the growth in batteries and renewables that the energy transition will require,” said Pablo Galante Escobar, Executive Board member of Vitol.
“Battery storage is essential for enabling higher renewable integration, and we are pleased to support high‑quality projects that pair robust risk management with long‑term sustainability,” further commented Ivo Kolarov, Head of Special and Structured Finance at DSK Bank
“This milestone demonstrates DSK Bank’s commitment to advancing Bulgaria’s low-carbon economy through innovative green financing,” said Pavel Tischev, Head of Project Finance at DSK Bank.
The BESS Nova Zagora project establishes a scalable model for next-generation storage and hybrid offtake structures across South-East Europe.
About Enery
Enery is an independent power producer committed to supplying its customers with reliable, affordable, and long-term green energy solutions. The company operates a diversified portfolio with 566 MW of installed capacity, generating 766 GWh of clean electricity. With a development pipeline of almost 10 GW across 10 countries in CEE, Enery is leading the energy transition in the region. Beyond developing, building, and operating renewable energy projects, Enery is also a leader in optimizing revenue streams for utility-scale renewable and storage assets, managing a total of more than 700 MWh of battery capacity across its own and third-party systems. Enery provides 24/7 green electricity to industrial consumers and is a leader in Corporate Green PPAs in the region. With a diverse team from 30 nationalities, Enery embeds ESG principles across its operations to create lasting value for communities, partners, and future generations.
The Bulgarian solar power market has been experiencing significant growth since 2021. As a result of the high economic growth in the last 3 years, industrialisation and urbanisation, the demand for new energy generation sources to replace the coal-based power plants in Bulgaria is increasing. By the end of 2024, Bulgaria had a cumulative installed solar capacity of 4,568 MW (4.57 GW), representing an increase of 1,283 MW (1.28 GW) compared to 2023.
For the first half of 2025, almost 450 MW (0.45 GW) of new solar power capacity has been installed in the country, and the cumulative capacity is currently close to 5,000 MW (5 GW).
In 2023, for the first time, Bulgaria joined the group of European countries that installed more than 1 GW of new capacity in a single year. Several large-scale solar photovoltaic (PV) projects with a power capacity above 100 MW were launched into commercial operation in Bulgaria between 2021 and 2024. The utility-scale sector dominates the installed solar capacity, with a share of 77%.
The battery energy storage system (BESS) market in Bulgaria will experience robust growth by 2030 in the co-located/behind-the-meter (BTM) and front-of-the-meter (FTM) segments. Together with the already approved at the end of April 2025, 82 projects for the construction of batteries for the storage of electricity under the Recovery and Sustainability Plan for nearly BGN 1.2 billion (€ 600 million), awaiting the signing of contracts, and 30 reserve projects for which additional money is still being sought through the new chapter of the plan – RePowerEU, Bulgaria intends to become a balancing force in the region.
By the end of 2027, Bulgaria is expected to install between 7 GWh and 11 GWh of new battery energy storage systems, according to the Central East and South East Europe Battery Energy Storage System (BESS) Market Outlook 2025 ÷ 2034.
For more information and answers to your questions about the Bulgarian solar and storage power market and related content, you may read here: Bulgaria Solar Photovoltaic (PV) Market Outlook 2025 ÷ 2034
For a better understanding of the benefits of using our reports, you may read here: Benefit List – Reports of Renewable Market Watch – 2025
Image Credit: Enery
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