Slovenian energy group GEN-I has expanded its battery energy storage activities into Bulgaria through the acquisition of three battery energy storage systems with a combined capacity of 30MW/76MWh.
The transaction, completed in June, covers the Belovo, Momchilgrad and Parvomay 1 projects and increases the portfolio of GEN-I Invest, the group’s investment arm, to 42MW/100MWh.
The company said it will also operate the assets in the Bulgarian market, using them to provide flexibility services and support grid stability.
GEN-I’s Invest’s first investment outside Slovenia
The move marks the investment arm’s first investment outside Slovenia. The subsidiary was established to oversee the group’s renewable energy and storage investments across Central and South-Eastern Europe.
GEN-I Group previously expanded its international activities through the construction of 29MW of solar capacity in North Macedonia in 2022 and 2024. Last year, GEN-I Invest acquired a battery energy storage system in Kidričevo, Slovenia.
According to the company, it plans to add a further 100MW of battery storage capacity through acquisitions before the end of 2026.
The group said its combined role as both investor and operator provides a competitive advantage. Alongside developing and owning energy assets, it is expanding its battery optimisation and management activities and expects to have around 800MW under management by the end of this year under signed contracts.
The company said Bulgaria is one of Europe’s fastest-growing battery storage markets, citing its ten cross-border interconnections, established regulatory framework and support mechanisms for energy storage investments.
The company said battery energy storage systems will play an increasingly important role in integrating renewable energy, increasing system flexibility and improving the efficiency of electricity networks.
By expanding its renewable energy and storage portfolio across the region, GEN-I said it aims to strengthen its position in the European energy market and support the continent’s energy transition.
Photo: a trio of Bulgarian flags by Luba Ertel on Unsplash
