Enery, in partnership with Vitol, recently announced the initiation of a significant Battery Energy Storage System (BESS) project in Bulgaria. Initially planned to have a capacity of 150MW/600MWh, this facility should be commissioned by March 2026. This project has the potential to be a major breakthrough in energy storage technology. It aims to provide a replicable model for future energy storage innovations across South-East Europe.
The BESS project plays a crucial role in helping Bulgaria’s transition to an energy system that is increasingly flexible and responsive. It further integrates renewable sources into the country’s grid. It will have a unique substation built specifically for the venue. This new substation would connect to their planned 33kV/110kV substation that will tie into the national transmission grid. This arrangement is meant to improve the reliability and efficiency of energy delivery across the entire region.
Advancing Energy Storage in Southeast Europe
Together, Enery and Vitol show the world that real collaboration makes room for innovative, ambitious, and sustainable energy solutions. Enery develops, owns and operates a diversified portfolio currently with 566MW total installed capacity and 766GWh of clean electricity generation per year. With the BESS project, the company is better equipped to maintain its leadership position as a pioneer of sustainable energy practices.
Vitol draws on its significant experience in developing and owning battery energy storage systems. They institute some of these systems on every continent in Australia, Europe and the United States. This partnership will bring a new precedent of hybrid offtake arrangements to Southeast Asia. Its intent is to increase energy resilience while supporting renewable energy goals.
“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.” – Ivo Kolarov
Innovative Financing and Project Management
As such, the BESS project is a landmark deal for Bulgaria’s nascent energy storage finance market. Moreover, they have signed a 12-year deal with Vitol for a virtual power purchase. This agreement ensures fiscal certainty and sustainability over the life of the project. This creative financing model is an example of a growing trend in the energy sector. Instruments such as these are increasingly necessary to translate storage projects into bankable opportunities.
Severin Vartigov noted, “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.” This notice further emphasizes the role that smart financial planning plays in creating strong energy programs.
Future Prospects and Goals
Just as the BESS project continues to grow as a collaborative and artistic endeavor, it foreshadows the development of additional BESS replicates throughout the region. Vitol’s executive board member Pablo Galante Escobar expressed optimism about the partnership: “We are pleased to enable this project, which we intend to be the first of many in partnership with Enery.” This sense of optimism is indicative of the tremendous potential we have to advance innovations in energy efficiency and clean energy technologies.
Hover Energy’s involvement in intelligent microgrids and distributed renewables further complements this project’s objectives. Recognized with three 2025 Power Technology Excellence Awards, Hover Energy exemplifies innovation in the renewable sector, aligning perfectly with the goals set forth by Enery and Vitol.