Elevat Solar Consulting
Green Energy Brief
Issue #3

May 11, 2026
Southeast Europe
PV · BESS · Policy
601.8 MWh
Nova Zagora BESS — Bulgaria

Largest battery system in Central & Eastern Europe goes live

Enery commissioned the Nova Zagora BESS in Bulgaria — 150 MW / 601.8 MWh, built from 120 containers of 5.015 MWh each. Commercial operations started in March 2026; formally announced May 7. It connects via a 33/110 kV substation and is already participating in Bulgaria's day-ahead and intraday markets. On the same week, Rezolv Energy commissioned St. George — 225 MW PV + 90 MW / 240 MWh BESS — on the former Silistra airport. Two landmark projects confirmed in a single week.

🇧🇬 BESS: Nova Zagora 150MW/601.8MWh — operational. St. George 90MW/240MWh — operational. RESTORE 1&2 pipeline: ~15 GWh under development.
🇧🇬Bulgaria
BESS Active
~6.2 GW PV
Wind 0.7 GW Hydro 3.3 GW
Key event: Nova Zagora 601MWh + St. George 225MW commissioned. New govt (Petrova, Energy Min.). 10 pumped storage sites identified.
🇷🇴 BESS: 30 operational systems, 599 MW / >1 GWh total. Premier Energy 200MW/400MWh under construction (Iași). Renalfa 3.6 GWh dual-chemistry cluster in development. Grid auctions start Oct 30, 2026.
🇷🇴Romania
BESS Active
~8.0 GW PV
Wind 3.2 GW Hydro 6.4 GW
Key event: BESS market surpasses 1 GWh. Grid capacity auctions launching Oct 2026 — first-come model ends.
🇬🇷 BESS: 900 MW awarded in 3 tenders (2023–2025), zero operational. 4.7 GW merchant standalone programme open. Banks refusing to finance storage. Easter: entire grid disconnected for hours.
🇬🇷Greece
BESS Blocked
11.7 GW PV
Wind 5.6 GW Hydro 3.4 GW
Key event: Small PV producers lost 70% revenue in April. 876 GWh curtailed Jan–Apr. Govt refuses compensation.
🇷🇸 BESS: TSO signed grid connection contracts for 7 standalone BESS (724 MW injection). Fortis Energy 270MW/72MWh construction permit secured. Hyundai/UGT 1GW PV + 200MW/400MWh strategic programme ongoing.
🇷🇸Serbia
BESS Early
0.32 GW PV
Wind 0.8 GW Hydro 2.8 GW
Key event: 7 BESS grid contracts signed (724 MW). SEEPEX introduces negative prices May 5–6. Bistrica pumped storage (55 GWh) moves to feasibility.
🇲🇰 BESS: Early stage. No operational projects. New energy law 2025. Intraday electricity market launched May 6, 2026 — significant market structure milestone.
🇲🇰N. Macedonia
BESS Early
0.30 GW PV
Wind 0.1 GW Hydro 0.7 GW
Key event: MEMO launched intraday electricity market — first step toward regional market integration.
🇲🇪 BESS: No operational projects. EPCG (state utility) announced 639 MW portfolio including solar, wind, hydro and BESS — estimated investment €646M, expected output 1 TWh/year.
🇲🇪Montenegro
BESS Early
0.10 GW PV
Wind 0.1 GW Hydro 0.7 GW
Key event: EPCG announces 639 MW pipeline (solar + wind + BESS + hydro), €646M investment framework.
🇧🇦 BESS: No operational projects. Western Balkans (inc. BiH) lobbying EU to adjust CBAM electricity provisions. US energy investment focus on $1.5B Bosnia–Croatia gas interconnection.
🇧🇦Bosnia & Herz.
No BESS
0.10 GW PV
Wind 0.1 GW Hydro 2.1 GW
Key event: WB6 countries request CBAM electricity exemption adjustment. US investor focus on gas interconnect.
🇽🇰 BESS: No operational projects. KEK Solar 100MW PV (EIB/KfW €33M) under construction near Pristina. 170 MW storage target by 2031 per NECP.
🇽🇰Kosovo
No BESS
0.10 GW PV
Wind 0.0 GW Hydro 0.3 GW
Key event: New KEO CEO confirmed. KEK Solar 100MW PV under construction — largest in country.
EU member state
Western Balkans
Hover card for BESS detail · PV data: ENTSO-E / national TSOs · May 2026
Country Project MW / MWh Status Note
🇧🇬 Bulgaria Nova Zagora (Enery) 150 / 601 Operational Largest BESS in CEE. Commercial ops March 2026; announced May 7.
🇧🇬 Bulgaria St. George (Rezolv) 90 / 240 Operational Co-located with 225MW PV. NextGenerationEU grant.
🇧🇬 Bulgaria ContourGlobal standalone 202 / — Operational Inaugurated Jan 2026. Active in BG day-ahead market.
🇷🇴 Romania Premier Energy (Iași) 200 / 400 Under Construction Started May 4. €100M ČSOB financing.
🇷🇴 Romania Enery Ogrezeni hybrid 534 / 1,000+ Under Construction 761MW PV + >1GWh BESS. €460M consortium finance.
🇷🇴 Romania Renalfa Horia-Arad cluster 400 / 800 Development 365MWp PV + 800MWh. Dual-chemistry Li-ion + Na-ion.
🇷🇸 Serbia 7 standalone (EMS contracts) 724 / — Grid contracts signed TSO signed 7 connection contracts Apr 30. 2–4h duration.
🇷🇸 Serbia Noćaj 1 (Fortis Energy) — / 72 Permit secured 270MW PV + 72MWh BESS. Construction Q2 2026.
🇬🇷 Greece 3 tender programmes 900 / — 0 MW connected 900MW awarded 2023–2025. None operational. Banks declining.
$300M
Rezolv Energy — St. George commissioning. 225MW PV + 90MW/240MWh BESS. IFC + Raiffeisen €90M debt. VPPA with Ardagh Glass 110 GWh/yr for 12 years — one of first in Bulgaria.
🇧🇬 BG
€460M
Enery Ogrezeni — financial close. 761MW PV + 534MW/1GWh+ BESS hybrid. Consortium: Intesa Sanpaolo €85M + UniCredit + ING. Would be largest hybrid plant in Europe.
🇷🇴 RO
€100M
Premier Energy — 200MW/400MWh BESS construction start. Near Iași. Green financing from ČSOB (CZ). Bought ready-to-build project in Nov 2025 for €7M.
🇷🇴 RO
€700M
Premier Energy acquires Evryo Group (incl. distribution operator Distribuție Energie Oltenia) from Macquarie Asset Management. Financial close H2 2026.
🇷🇴 RO
€1.6B
Hyundai Engineering / UGT Renewables — Serbia strategic partnership. 1GW PV across 6 sites + 200MW/400MWh BESS. Construction under way 2026.
🇷🇸 RS
€45.6M
Econergy — 155MW Ratești solar acquisition from Nofar Energy. +120MW BESS planned at site. Separate 68MW BESS in development at 87MW Oradea plant. Total RO portfolio: 3.5GW solar/wind/BESS.
🇷🇴 RO
€24B
PPC — €24 billion investment programme with Balkan expansion focus. Greece's Public Power Corporation announced its largest-ever capex plan, targeting Romania, Bulgaria and Serbia. Includes renewable generation, grids and BESS. Acquisition of Evryo/DEO from Macquarie (€700M) is first step.
🇷🇴 RO 🇧🇬 BG 🇷🇸 RS
TBD
Rezolv Energy — Dama Solar expanded to 1.3 GW. Would be largest PV project in Europe (excl. Turkey). Located in Romania. Financial close timeline not disclosed — project scale increase announced March 2026.
🇷🇴 RO
TBD
SANY Group — giant hybrid power complex + data center in Romania. Chinese equipment giant entering Romanian market as developer. Scale reportedly largest hybrid energy project in Europe. Details limited — no financial close announced.
🇷🇴 RO
🇪🇺 European Union — ALL SEE MARKETS
EU bans EIB/EBRD funding for projects using Chinese inverters and BESS PCS — effective May 1, 2026. The European Commission restricted all EU public financing (EIB, EIF, EBRD) for solar, wind and storage projects using inverters from "high-risk" suppliers — China, Russia, Iran, North Korea. Huawei and Sungrow explicitly named. BESS Power Conversion Systems included. No public announcement; communicated quietly to financial institutions. Key deadlines: May 15 — notify Commission of all pipeline projects; November 1, 2026 — all new projects must comply; April 2027 — full restriction. Balkans projects connected to EU grid: same rules apply. Developers with EIB/EBRD financing and Huawei or Sungrow specified face an immediate bankability issue.
🇷🇴 Romania
Grid capacity auctions — Oct 30, 2026. First-come model replaced by competitive auctions for all projects ≥5MW. Financial guarantee raised from 5% to 20% of connection fee. PM: 90% of existing ATRs are speculative — revocations expected.
🇬🇷 Greece
Curtailment crisis deepens. 876 GWh curtailed Jan–Apr vs 589 GWh in 2025. New law (end of April): all RES >400kW must install remote output control equipment. Govt frames zero prices as "consumer support" — no compensation mechanism.
🇧🇬 Bulgaria
Eco-tax anomaly persists. Recycling fees for PV panels and batteries are 5–10× higher than comparable EU countries, artificially inflating CAPEX. No legislative fix announced despite industry pressure.
🇧🇬 Bulgaria — New government
Radev cabinet takes office May 8. New Minister of Energy: Iva Petrova. Petrova comes from the position of Deputy Minister — continuity expected in renewable energy policy. Key watch: eco-tax reform, pumped storage programme (10 sites identified), and licensing backlog for utility-scale PV.
🇷🇸 Serbia — market structure
SEEPEX introduces negative electricity prices — May 5–6. Serbian power exchange enabled negative prices for the first time. North Macedonia's MEMO launched intraday market simultaneously. Both moves signal accelerating market integration and growing renewable penetration pressure — the same structural conditions that preceded Greece's curtailment crisis.
🇷🇸 Serbia / 🇲🇰 MK / 🇲🇪 ME / 🇧🇦 BiH / 🇽🇰 XK
WB5 CBAM lobbying. Five Energy Community contracting parties formally requested EU to adjust CBAM electricity provisions — concerned that market coupling objectives are unattainable under current regulation. First Q1 2026 CBAM data shows 25% drop in EU–WB6 cross-border trade volumes.
🇲🇰 North Macedonia
Intraday market launched May 6. MEMO (National Electricity Market Operator) activated intraday trading — key step toward regional market integration and eventual EU market coupling.
🇧🇦 BiH / Western Balkans
US energy investment push. Washington advancing $1.5B Bosnia–Croatia Southern Interconnection gas pipeline. Western Balkans Democracy and Prosperity Act passed February 2026 — intensified US economic engagement in region.

Two landmark projects commissioned in Bulgaria within a single week — Nova Zagora (601 MWh) and St. George (225MW + 240MWh) — confirm that the country's BESS market has moved from pipeline to operational reality. Bulgaria now hosts the largest battery system in Central and Eastern Europe. The question is no longer whether large-scale BESS works in SEE. It does.

Greece is the cautionary tale. With 11.7 GW of PV and 876 GWh curtailed in just four months of 2026, the country demonstrates what happens when storage policy fails to keep pace with solar deployment. Small producers lost up to 70% of revenue in April alone. The government's framing of zero prices as "consumer benefit" is politically convenient but economically unsustainable. At some point, the investment in new solar will stop — not because of resource constraints, but because the market structure makes it unviable. This is a direct risk signal for developers in Bulgaria and Romania, where penetration is accelerating.

Romania's grid auction reform is the most consequential regulatory change in the region this year. Replacing first-come-first-served with competitive capacity auctions from October 2026 will restructure project development timelines across the entire market. The 20% financial guarantee requirement will filter out speculative permits — the PM's admission that 90% of existing ATRs are non-serious projects explains the scale of the problem. Developers with real projects benefit. Those holding paper permits do not.

Serbia is accelerating faster than its grid can absorb. The TSO signed grid connection contracts for 724MW of standalone BESS on a single day. The Hyundai/UGT 1GW programme is under way. Yet the country's cumulative PV capacity remains under 350MW. The BESS investment is arriving ahead of the solar build — which is unusual, and worth watching.

The EU inverter ban is the single biggest procurement shift in European solar in a decade. Effective May 1, quietly, without a press release — the Commission restricted EIB and EBRD financing for all projects using Chinese inverters and BESS power conversion systems. Huawei and Sungrow together represent the dominant share of SEE's installed and pipeline equipment. For developers with public financing, the bankability calculation changed overnight. For those in design phase: switching supplier specification now, before financial close, is cheaper than explaining to a lender in Q4 why you can't comply. SMA, Fronius and Fimer are the practical alternatives — expect a 5–15% BOS premium. The Commission says less than 2% total project cost impact. Anyone who has priced a utility-scale BOS package recently will question that figure.