360 Energy, a renewable energy project developer, secured approximately €63 million (~$74 million) in project financing for its Verila Solar Park 2. Raiffeisen Bank International and UniCredit Bulbank provided the funding.
The funding will support the development, construction, and operation of a new battery energy storage system in Bulgaria with a capacity of approximately 360 MWh. The project will be located near the city of Dupnitsa. The project represents a significant advancement in strengthening Bulgaria’s renewable energy infrastructure and shifting toward a more sustainable energy mix.
CMS Sofia served as the legal advisor to the borrower on the transaction, providing comprehensive legal support throughout all stages, from initial due diligence and structuring to negotiating financing documentation and signing. The lenders received legal advice from Schoenherr in Austria and Bulgaria.
According to Mercom’s 9M and Q3 2025 Funding and M&A Report for Energy Storage report, announced Energy Storage project financing increased 94% in the first nine months of 2025 compared with the same period in 2024.
In September 2025, another Bulgarian renewable energy developer secured €40 million (~$47 million) in project financing for a portfolio of seven battery energy storage systems, each with a capacity of 215 MWh. The projects are located in five different regions of Bulgaria, including Vratsa, Ivaylovgrad, Pazardzhik, Rudozem, and Haskovo.
In November 2025, Aukera, a Europe-based renewable energy developer and independent power producer, secured a €60 million (~$70 million) debt facility from Kommunalkredit Austria for the development and construction of its stand-alone battery energy storage project in Romania. The 250 MW/500 MWh battery storage project, located in Gura Ialomitei, Ialomita County. The project is planned to be delivered in two phases. Phase 1 is currently under construction, and the whole project is expected to reach commercial operation by mid-2026.
