Press release -
Shell and SUNOTEC sign landmark cross-border spread hedge agreement supporting long-term energy market stability
[Sofia, November 2025] – SUNOTEC, the European leader in utility-scale solar and BESS solutions, has signed a cross-border agreement with Shell Energy Europe B.V (Shell), which marks a milestone in advancing innovative financial mechanisms for the development of battery energy storage systems in Central Eastern Europe.
The five-year agreement is linked to a 600+ megawatt-hour battery energy storage project owned by SUNOTEC, which is under development and expected to reach commercial operations date by Q2 2026. The agreement provides long-term price stability for the project, supporting its financial viability. For Shell, the deal helps to diversify its wider power portfolio in the region. The agreement was facilitated by Enery Portfolio Optimisation.
This transaction is among the first of its kind in Central Eastern Europe and helps to establish battery project development in the region. It reflects both companies’ shared commitment to accelerating the energy transition through cooperation in technology, infrastructure and financial innovation.
Kaloyan Velichkov, Founder and CEO of SUNOTEC, added:
“Agreements like the one with Shell highlight SUNOTEC’s commitment to working with leading energy players who share our vision for a sustainable and forward-looking energy future. This pioneering agreement demonstrates the power of collaboration in advancing flexibility and renewable-energy driven independence. By uniting technical expertise with financial ingenuity, we are helping to build a more resilient and integrated energy system.”
The transaction demonstrates how cross-border cooperation and forward-looking financial mechanisms can enhance regional energy market integration and facilitate the deployment of large-scale renewable energy assets.
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SUNOTEC is a leading European company in the development and construction of large-scale solar power plants, specialising in the end-to-end delivery of future-ready energy infrastructure. Through vertically integrated services, spanning engineering, manufacturing, construction, O&M and BESS, SUNOTEC offers complete solar solutions designed for performance, reliability, and long-term impact. Founded in 2012, the company has completed over 650 ground-mounted PV installations, with a total capacity exceeding 11 gigawatts across Europe. Headquartered in Sofia, Bulgaria, with additional offices in Munich, Germany and the United Kingdom, SUNOTEC combines international expertise with local execution.
The company employs over 2,000 professionals worldwide and continues to expand into new markets, including West Africa, Latin America and the Nordics through strategic partnerships and joint ventures. Guided by sustainability and circular economy principles, SUNOTEC is powering the global energy transition, one integrated solar plant at a time.
