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September 26, 2025
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Bulgaria to start talks with developers of small modular reactors

Bulgaria should discuss the possibility of installing small modular reactors on its territory with companies developing the technology, according to Minister of Energy Zhecho Stankov. In his view, it is a logical step after the country signed a memorandum of understanding with the United States on nuclear energy and assistance in preliminary studies.

Minister of Energy of Bulgaria Zhecho Stankov said that during his forthcoming visit to Ontario, Canada, he is going to a site where the first four small modular reactors (SMRs) are being built. Last week, he signed a memorandum of understanding with United States Secretary of Energy Chris Wright reaffirming the objectives of the bilateral agreement to strengthen cooperation in civil nuclear energy use.

Bulgaria’s government considers the SMR technology a tool for long-term stability, predictability and affordable low-emission electricity production.

“After signing a joint statement last week with the US Secretary of Energy Chris Wright on that country’s assistance for sites on Bulgarian territory for small modular reactors – it is a new, modern technology, very flexible, which attracts investments in data centers and artificial intelligence centers – the normal next step for the Bulgarian side is to start talks with potential companies that develop this type of technology,” Stankov told reporters in New York City.

US to assist Bulgaria in prefeasibility studies

The memorandum envisages cooperation in the development and deployment of innovative technologies for nuclear reactors, aimed at enhancing Bulgaria’s economic security and energy resilience with the support of the US Department of Energy’s Office of Nuclear Energy.

Minister Stankov called for regional cooperation to reduce vulnerabilities and form a sustainable energy market

The Balkan country would benefit from the expertise of US laboratories in conducting preliminary studies of the feasibility and suitability of potential sites for the deployment of small modular reactors. The US Trade and Development Agency has said it is prepared to fund the assessment of SMR technologies to identify the ones most adequate for Bulgaria, the ministry added.

Speaking in New York City, Stankov also outlined the priorities – new energy corridors, investments in green energy and balancing capacities including pumped storage hydropower plants and battery energy storage systems (BESS), the projects for units 7 and 8 at the Kozloduy nuclear power plant, and regional cooperation for reducing vulnerabilities and forming a sustainable energy market.

Prime Minister Zhelyazkov endorses both rival projects for electricity corridors

Notably, Prime Minister Rosen Zhelyazkov said that he spoke with President of Azerbaijan Ilham Aliyev about the supply of green energy from the Caspian region to Europe. The plans involve 6 GW from Azerbaijan or, potentially, 10 GW if Kazakhstan and Turkmenistan are involved, he added

The proposed subsea power interconnector under the Black Sea is increasingly realistic and so is an onshore corridor from Armenia and Georgia through Turkey, according to Zhelyazkov.

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September 26, 2025
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CMS committed to sustainability – first law firm in Belgrade with solar power plant on its rooftop

CMS is the first law firm in Belgrade to install a solar power plant on the roof of its own building. The plant has been in operation for nine months now.

Two months ago, it also obtained official status as a prosumer (buyer-producer) of electricity. It is an important milestone in CMS Belgrade’s transition to more sustainable energy use, according to the announcement.

Since reaching full operating capacity, the solar plant has covered around 50% of its total electricity consumption.

The long-term goal is ambitious yet achievable, according to CMS Belgrade: 70% of electricity consumption from solar by the end of 2025, and 100% within the next three years.

“Sustainability is not just a goal — it’s a responsibility, and one we are committed to integrating into every part of our business,” the announcement reads.

Radivoje Petrikić, the Managing Partner at CMS Belgrade (Petrikić & Partneri AOD in cooperation with CMS Reich-Rohrwig Hainz), said: “We are committed to integrating eco-friendly practices into every aspect of our business. By embracing sustainability in our daily operations, we are not only shaping a brighter future for our firm but also contributing to a greener planet for generations to come.”

The office is part of international law firm CMS CEE, based in Vienna.

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September 25, 2025
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Aurora: Romania’s third CfD auction is key for 2030 targets as solar outpaced wind

Aurora Energy Research expects strike prices at the additional renewable energy auction in Romania, for the remaining wind power quota, to land near the ceiling, set at EUR 80 per MWh. In the previous round, there was strong competition between the bidders for the photovoltaic segment, while developers of wind energy projects may have seen more value in PPAs and merchant options.

Increased costs and stricter eligibility rules constrained wind participation in Romania’s second contracts-for-difference (CfD) round in August, which fell short of the 2 GW wind target. Developers may have seen more value outside the CfD framework, according to Aurora experts, who stressed that power purchase agreements (PPAs) and merchant options offer higher returns than the capped CfD strike prices.

Solar projects showed stronger economics, with strike prices between EUR 35 per MWh and EUR 45 per MWh, compared to wind at EUR 65 per MWh to EUR 79.5 per MWh.

“Using the same commercial operation date for both PV and wind projects has disincentivised wind participation in CfD rounds, since wind developments are far more complex. Their permitting, grid connection, and EPC timelines are significantly longer than solar, making the uniform deadline misaligned with project realities,” said Project Leader at Research Associate at Aurora Energy Research Filippos Falieros.

Dedicated auctions can influence market dynamics

As wind is essential for achieving 2030 renewable targets, the Romanian Ministry of Energy invited developers to submit expressions of interest for mature wind projects only, with contracts expected to be signed by the end of 2025. The third auction will focus on wind energy solely, with a maximum strike price set at EUR 80 per MWh, and Aurora expects strike prices near the ceiling.

In the second auction, accepted wind power bids were between EUR 65 per MWh and EUR 79.5 per MWh

The move underscores the growing divergence in Romania between solar’s strong economics and wind’s slower progress, while also showing how policy adjustments – such as dedicated auctions – can influence market dynamics.

CfD state aid scheme was approved through Modernisation Fund

The overall CfD scheme is supported by EUR 3 billion in total state aid that the European Union approved through the Modernisation Fund, aiming to keep costs low for consumers.

Established in 2013, Aurora Energy Research provides power market forecasting and analytics for critical investment and financing decisions. Headquartered in Oxford, it operates out of 17 offices worldwide covering Europe, North and South America, Asia and Australia.

The firm’s comprehensive services include market outlook packages for energy industry participants, advisory support, and software solutions. Aurora fosters diversity with a team of one thousand experts with backgrounds in energy, finance, and consulting, offering expertise across power, renewables, storage, hydrogen, carbon, and fossil commodities.

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September 25, 2025
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Enery, Teva sign 15-year virtual PPA for solar, BESS in Bulgaria

Renewable energy firm Enery and Teva Pharmaceutical Industries have signed a 15-year hybrid power purchase agreement.

Under a financial or virtual power purchase agreement (PPA), a future solar power plant with two battery energy storage systems (BESS) will supply 60,000 MWh of electricity annually to Teva’s two plants in Bulgaria.

The landmark agreement is the first of its kind in the region to include green electricity supply from a newly built solar power plant with BESS and the longest one in Bulgaria so far, Enery said.

It is the Austrian company’s 15th PPA signed in the last four years across Central and Eastern Europe and the second one involving a Bulgaria-based offtaker.

The PPA sets a precedent for integrating storage within virtual PPA structures

Over the 15 years, the project is expected to avoid emissions of 15,840 metric tons of CO2 equivalent per year, supporting Teva’s goal to reduce scope 1 and 2 emissions by 46.2% by 2030.

The hybrid PPA also sets a precedent for integrating energy storage within virtual PPA (vPPA) structures, enhancing grid resilience and the value of renewable energy procurement, Enery stressed.

According to the company, the agreement will facilitate the construction of a photovoltaic park of 122 MW in peak capacity, equipped with two BESS installations at the site — one with a capacity of 70 MWh and another of 130 MWh. Located on non-arable land in the villages of Knizhovnik and Dolno Voyvodino in the Haskovo municipality, south Bulgaria, the Knizhovnik solar park is projected to produce 200 GWh of clean electricity per year.

Decktor: Teva is not only securing clean energy but also enhancing grid resilience and flexibility

“This agreement represents another significant step forward in our decarbonization journey,” said Josh Decktor, Teva’s Vice President and Global Head of Environment, Health, Safety and Sustainability.

By investing in a newly built solar asset with integrated storage, Teva is not only securing clean energy but also enhancing grid resilience and flexibility – key components of its strategy to meet its science-based targets, he added.

“We are proud that our projects are being realized thanks to an innovative partnership with companies that are proven leaders in their market niche, such as Teva, and demonstrate a strong commitment to the environment and society,” Enery’s Chief Commercial Officer Severin Vartigov stated.

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September 25, 2025
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EPBiH receives EUR 2 million from KfW for green, market-oriented transformation

Germany’s KfW Development Bank is donating EUR 2 million to Elektroprivreda Bosne i Hercegovine (EPBiH). The funding is for the acceleration of the energy transition and strengthening market mechanisms in Bosnia and Herzegovina’s state-owned power utility. The grants cover monitoring carbon dioxide emissions and related reporting as well as the development of a decarbonization roadmap and a virtual power plant project.

General Manager of Elektroprivreda BiH Sanel Buljubašić and the company’s Executive Director for Economic Affairs Sanela Jurišić signed an agreement with KfW’s Head of the Division of Energy and Transport in Southeast Europe and Turkey, Pablo Obrador, on EUR 2 million in grants.

Germany’s development bank approved the funds within the program Supporting Market-Oriented Green Transformation in the Eastern Neighbourhood and Western Balkans, on behalf of the European Union. It is supported by European Fund for Sustainable Development Plus.

EPBiH committed to sustainable decarbonization

The deal is aimed at supporting the institutional capacities of EPBiH for managing its green transition and corporate transformation.

The funding is part of the program Supporting Market-Oriented Green Transformation in the Eastern Neighbourhood and Western Balkans

“The project that we are developing with KfW bank represents an important step toward speeding up the energy transition and strengthening sustainable market mechanisms in our company. With this milestone, Elektroprivreda BiH confirms its commitment to sustainable decarbonization as well as strengthening competitiveness through investments in green technology,” CEO Buljubašić stated.

Experts to participate in development of CO2 emissions tracking plan, establishment of virtual power plant

The grants are earmarked for technical support, which includes financing the services of expert consultants for a plan for monitoring CO2 emissions and related reporting, their support in producing a decarbonization roadmap, in corporate sustainability reporting and the establishment of a virtual power plant. Additionally, a part of the funds will be for technical support in the materialization of strategic guidelines defined in EPBiH’s energy transition and decarbonization strategy until 2050.

 

“We have invested in renewable energy sources before, and the signing of the contract represents a new chapter in our cooperation. I express hope that the new systems will be implemented soon and I express the bank’s preparedness to support Elektroprivreda BiH’s new green energy business models,” KfW’s representative Pablo Obrador said, as quoted by Bosnia and Herzegovina’s state-owned utility.

Alongside supporting EPBiH’s corporate reforms, the grant funding will be used for improving the company’s commercial efforts aimed at strengthening market preparedness and the improvement in strategic positioning within the rapidly developing energy sector.

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September 25, 2025
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Turkey starts building solar parks on former coal land

After the first two units of 5 MW each, state-owned Turkish Coal Enterprises (TKI) is planning two solar power plants of 14 MW in combined peak capacity at sites of its previous mining operations.

Former coal mines and their tailings dumps, together with the ash disposal fields of thermal power plants, are among the most convenient areas for solar power plants, unlike fertile agricultural land. In Southeastern Europe, Greece is leading the way by transforming its coal land into industrial hubs with cutting-edge technologies, with the focus remaining on energy – mostly solar power plants. Their capacity is among the highest in the world.

Other countries in the region are advancing slowly in such decarbonization projects, with the exception of North Macedonia, or are still in the planning stage, but Turkey announced that it intends to speed up the construction of photovoltaic units on sites of former coal mining operations.

The Ministry of Energy and Natural Resources said the capacity would reach 24 MW next year

Turkish Coal Enterprises (TKI) is revitalizing the areas of depleted open pit mines also through afforestation, the Ministry of Energy and Natural Resources said. The company planted just over 12 million trees on 6,265 hectares last year.

With photovoltaic projects, such areas are contributing to the country’s economy again. The state-owned company’s Aegean region subsidiary ELI operates a self-consumption unit of 5 MW in Manisa. Another firm, ÇLI, based in Çanakkale, further to the north, has installed a 5 MW solar park.

The two facilities generate 18 GWh of electricity per year, supplying businesses, the update adds.

Preparations are underway for the construction of a 5 MW photovoltaic plant in the Tavşanlı district of Kütahya province in Turkey’s west. Another project is for 9 MW in the Afşin district in Kahramanmaraş, in the Mediterranean region in the country’s south. TKI plans to complete them next year.

The four solar parks will produce some 41 GWh per year, according to the ministry.

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