Enery has done an outstanding job of winning funding to develop the region’s first BESS (Battery Energy Storage System) pilot project in Bulgaria. This milestone becomes one of the nation’s most sophisticated energy storage financing transactions. At completion, the project will provide a jaw-dropping capacity of 150 megawatts and 600 megawatt-hours. This will considerably help Bulgaria’s transition to a more flexible and renewable energy system. Expected commissioning of the BESS project is March 2026.
The BESS will eventually be paired with its own substation. It will link to a new 33kV/110kV substation that will, eventually, form part of the national transmission grid. This integration is key to modernizing our nation’s energy infrastructure and making it possible to manage renewable energy sources.
Strategic Partnerships and Long-Term Agreements
This includes a foundational long-term VPPA (virtual power purchase agreement) for the project. It has been contracted with Vitol, a global trading powerhouse with a strong battery energy storage development and optimization pedigree in Australia, Europe and the United States. This partnership is emblematic of a larger trend toward more complex financial collaboration in the energy space.
“We are pleased to enable this project, which we intend to be the first of many in partnership with Enery.” – Pablo Galante Escobar
Together with Vitol, this partnership further establishes Enery’s role at the forefront of creative energy solutions. Through the project, Rockefeller strives to develop a replicable model for new types of energy storage and hybrid offtake deals throughout Southeast Europe.
Enhancing Energy Flexibility and Sustainability
The new BESS project will represent a valuable addition to increase the energy flexibility of Bulgaria. One of its biggest benefits will be a faster integration of renewable energy sources into our national grid. With a diversified portfolio of 566 megawatts of installed capacity, Enery brings 766 gigawatt-hours of clean, locally-produced electricity to market every year.
Ivo Kolarov emphasized the importance of battery storage, stating, “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.”
Furthermore, Severin Vartigov highlighted how modern financial instruments can unlock potential in storage projects: “Sophisticated instruments such as Virtual financial deals, combined with Enery Portfolio Optimization’s best-in-class physical optimisation services, are now key to unlocking bankable storage projects.”
Industry Recognition and Future Prospects
Hover Energy is pioneering the future of energy. The company is proud to have received three 2025 Power Technology Excellence Awards, honoring its work in intelligent microgrids and distributed renewables. These accolades are a testament to its status as a national leader in the energy industry.
As the demand for renewable energy solutions grows, projects like this BESS are crucial to meeting future energy needs while supporting environmental sustainability. The successful execution of this project could inspire similar initiatives throughout the region, promoting cleaner energy systems across southeast Europe.