/SOFIA, BULGARIA, June 27, 2025, 11:30 CET, RENEWABLE MARKET WATCH™/
Solaris Holding AD, a joint venture between the Bulgarian-German company SUNOTEC and the primary shareholders of Eurohold Bulgaria AD, has officially opened a new hybrid renewable energy plant in Oryahovo, located in the Vratsa region of Bulgaria. This facility, which integrates solar energy production and storage system, is designed to generate and store green electricity. The project is financed by the United Bulgarian Bank (UBB) and Varengold Bank AG from Germany.
The Selanovtsi solar photovoltaic power plant has an installed capacity of 59.8 MWp and features a co-located battery energy storage system (BESS) with a storage capacity of 107.3 MWh. This facility is expected to generate nearly 80,000 MWh of electricity annually, sufficient to supply over 22,000 households. Additionally, it will help reduce carbon dioxide emissions by approximately 1,029,206 tonnes. The electricity produced is procured by Electrohold Trade EAD, one of the leading licensed traders and part of the Eurohold-owned Electrohold group.
The hybrid renewable energy system (RES) plant covers an area of 37.86 hectares and consists of 103,116 photovoltaic panels. A team of 250 people is working on its construction. The battery modules utilise lithium iron phosphate (LFP) technology.
The Selanovtsi project has been developed according to the latest standards for efficient production and smart management of renewable energy. With the integrated battery storage system, the green energy generated can be stored during periods of low consumption and used during times of high demand. This approach helps balance the electricity system, enhancing its stability and efficiency while promoting a more reliable integration of renewable energy sources into the national grid.
Solaris Holding has substantial experience in constructing renewable energy projects both in Bulgaria and throughout Europe. To date, the company has successfully completed over 600 MW of projects in Bulgaria and the surrounding region, along with the installation of more than 2,000 MWh of battery energy storage.
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 currently is 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.
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: Electrohold
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