Blog – Full Width

  1. Home
  2. Blog – Full Width
September 25, 2025
by

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.

Post Views:39
September 25, 2025
by

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.

Post Views:42
September 25, 2025
by

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.

Post Views:56
September 24, 2025
by

BiH’s power utility ERS sees EUR 14.8 million loss in 2025

Elektroprivreda Republike Srpske expects a loss of BAM 29 million (EUR 14.8 million) this year, according to the power utility’s CEO Luka Petrović.

The reasons for the poor business results of Elektroprivreda Republike Srpske (ERS) are bad hydrological conditions and an increase in electricity imports, Luka Petrović said, as quoted by news agency Srna.

ERS is one of the three state-owned power utilities in Bosnia and Herzegovina. It is in charge of the electricity production and supply in the Republic of Srpska, one of the country’s two political entities.

Of note, a week ago, the new Prime Minister of the Republic of Srpska Savo Minić called the situation in the electricity sector extremely complex. He has also set a 15-day deadline for setting up plans to overcome the issues.

Petrović: Electricity is imported for EUR 72 per MWh and sold to citizens for EUR 34 per MWh

Following the meeting of ERS’s management in Trebinje, Luka Petrović emphasized that the company’s electricity production would be significantly reduced, to 4,500 GWh. He previously said hydropower output decreased by 50% this year on an annual basis.

He recalled that ERS already purchased about 13% of electricity for domestic supply at high prices. The difference between purchase and sales prices will produce a loss of about BAM 29 million (EUR 14.8 million), Petrović added.

He noted that in 2023, when the hydrological situation was good, ERS achieved a record profit of BAM 146 million (EUR 74.6 million).

Of note, the company recorded a BAM 3.2 million (EUR 1.6 million) profit in 2024.

Petrović stressed that the electricity deficit would have to be purchased on the power exchange, at EUR 72 per MWh, while it is sold to citizens for EUR 34 per MWh, compared to the price for businesses of EUR 75 per MWh.

Imports this year reached BAM 60 million to BAM 70 million (EUR 30.7 million to EUR 35.8 million)

Two consecutive years with drought can disrupt the cash flow because there is no export capacity, Petrović explained.

He asserted that ERS’s electricity exports over the past few years were worth BAM 100 million to BAM 200 million (EUR 51.1 million to EUR 102.2 million) per annum, while imports were between BAM 30 million and BAM 60 million. This year, electricity bought abroad amounted to between BAM 60 million and BAM 70 million (EUR 30.7 million to EUR 35.8 million).

Of note, in previous years, BiH was the largest net exporter of electricity in the region. However, imports were nearly 4.5 times higher in the first half of the year than in the same period of 2024. Another power utility, Elektroprivreda BiH (EPBiH), is increasing losses.

Government to hold a session about ERS

Petrović noted that the company has repaid a loan of BAM 78 million (EUR 39.9 million) and another of BAM 60 million (EUR 30.7 million).

A government session about ERS is planned. He will propose that it be held at the Ugljevik thermal power plant, from which a third of the electricity is delivered to Slovenia.

In addition, the management of ERS has requested further rationalization of all operating costs.

Post Views:28
September 24, 2025
by

Renewables account turns red in Greece amid more low and negative power prices

Conditions in the Greek market have worsened in recent months for renewable energy producers, especially in the solar power segment, as a result of low and negative electricity prices.

So far in September, the total number of hours with a negative price in the day-ahead market (DAM) has reached 27. Prices usually fall slightly below zero, between EUR 0.01 per MWh and EUR 1, but for Sunday, September 21, they reached a negative EUR 14.8 per MWh.

In Greece, over 7 GW of renewable electricity plants with individual capacities above 400 kW operate under contracts for difference (CfDs).

Negative prices hurt producers. They receive no payment if the price is zero or below for two or more consecutive hours.

Low positive prices harm market operator

There is another issue, caused by a great number of barely positive prices during the day, when solar farms reach their maximum output. The so-called special purchase price for photovoltaics, determined once a month, has fallen steeply. In August it reached a record low of EUR 25 per MWh.

Namely, the Operator of Renewable Energy Sources & Guarantees of Origin (DAPEEP) pays a producer the difference between the special purchase price and the price in the CfD contract, which is much higher.

Therefore DAPEEP benefits from negative hourly prices, since it avoids some payments, but it loses much more from low positive prices.

Special renewables account swings back into red

The operator’s special renewables account reached a breakeven level at the beginning of this year, but turned steeply negative in recent months. The latest official data show a deficit of EUR 160 million for the period through July. Initially, a gap of EUR 173 million was projected for the end of 2025, so investors are worried.

Payments to producers remain unaffected so far and they continue in a timely fashion. Regardless, conditions in the market have made investments in solar energy less profitable. Certain players have chosen to abandon their projects. EDP Renewables and ABO Energy have decided to leave Greece altogether.

The trend has fueled demand for the purchase of solar farms benefiting from feed-in tariffs, as they are not affected by fluctuations in the wholesale market. According to information that Energypress obtained, such facilities are currently sold for around EUR 700,000 per MW.

Post Views:33
September 24, 2025
by

Half of EU auction-backed hydrogen projects pull out

Seven projects for 1.88 GW of total electrolyzer capacity turned out to be unfeasible even with grants won at the second European Hydrogen Bank auction, out of 2.34 GW overall. The developers withdrew, with some citing policy and infrastructure delays and uncertainty. A project from the first renewable hydrogen auction also pulled out.

The European Commission has invited ten projects from the reserve list of the second European Hydrogen Bank auction to start preparing documentation for signing grant agreements, after seven that were initially selected withdrew. The round, completed in May, resulted in 15 projects for renewable hydrogen winning support, for 2.34 GW of total electrolyzer capacity.

Five endeavors remained in the general category, for just 453.46 MW overall, and the remaining three are in the maritime segment. They account for 108.5 MW. The ten reserve projects envisage 774 MW, compared to the 1.88 GW that dropped out, including the three biggest proposed systems.

Stuck at completion guarantees

Some developers of the withdrawn proposals weren’t able to provide completion guarantees. Completion guarantees are worth 8% of the grant, S&P Global noted in a report. Companies cited policy and infrastructure delays and uncertainty.

Four sites are in Spain, two in Germany and the seventh one is in the Netherlands: the Zeevonk electrolyser, the largest of all. It would have 560 MW and produce 411,000 tons over ten years, receiving EUR 0.6 per kilogram.

Beneficiaries receive premiums from the European Hydrogen Bank budget that compensate for the difference between the production price and the amount that buyers offer.

European Hydrogen Bank mechanism designed to weed out unfeasible investments

Before the end of the year, the European Commission expects to publish the final list for the said IF24 auction. One project recently dropped out from the first round as well.

“The auction’s completion guarantee is working as expected in weeding out companies that have bid too low, or were forced to reassess their project maturity or financial viability between bidding and having to provide the completion guarantee,” EU Innovation Fund Policy Officer Johanna Schiele said.

The withdrawn projects could still head for implementation if they complete the financing structure.

Under the second round within the European Hydrogen Bank mechanism, EUR 1.2 billion was available, but only EUR 992 million rewarded.

Post Views:49