Sunotec secures financing for 763 MWh solar and storage portfolio in Bulgaria

European developer Sunotec said this week it had secured financing for a total of seven renewable energy projects in Bulgaria, much of which will expand the country’s energy storage capacity once operational.

The portfolio, financed in September, consists of one 115 MWp co-located solar-plus-storage plant and six standalone battery energy storage system (BESS) projects, which together will provide 763 MWh of storage capacity.

The projects are owned either directly by Sunotec or through Solaris Holding, a 50/50 joint venture between Sunotec and the main shareholders of regional energy and finance group Eurohold Bulgaria.

Bulgaria’s Ministry of Energy has approved the six standalone BESS projects for subsidies under the nation’s Restore program, which is designed to support the deployment of large-scale energy storage to improve grid stability.

“These projects mark a major milestone in our evolution not only as a turnkey solutions provider, but also as a long-term investor in renewable energy infrastructure,” said Viktor Stefanov, head of IPP at Sunotec. “With these investments, we are contributing to Bulgaria’s energy independence and to building a more resilient, flexible and renewable power system.”

Sunotec already has existing operational assets in Pernik, Verinsko, and Selanovtsi in Bulgaria, and recently signed a supply agreement with Sungrow for BESS.

Pernik is a hybrid solar plus storage park with a 61 MWh BESS, locateed on a former industrial waste landfill site. Verinsko, where Sunotec was the EPC, is also a co-located project featuring a 36.6 MWh battery, and is shown in the photo above. And the third listed is the largest, with a 59.8 MWp solar farm and a 107.3 MWh BESS.