Sofia, September 24, 2025
Enery, a leading renewable energy producer in Central and Eastern Europe, and Teva Pharmaceutical Industries Ltd. (NYSE: TEVA), a global pharmaceutical company, announce the signing of a 15-year hybrid Power Purchase Agreement (PPA). This landmark agreement is the first of its kind in the region to include green electricity supply from a newly built solar power plant with a battery energy storage system (BESS).
The agreement between Enery and Teva is a financial PPA that will deliver 60,000 MWh of green energy. It is the longest agreement in Bulgaria so far, highlighting the industry’s growing interest in long-term renewable energy solutions.
For Enery, this marks the 15th PPA signed in the last four years across Central and Eastern Europe and the second one involving a Bulgarian-based off-taker. The clean electricity produced will support the decarbonization of Teva’s two pharmaceutical plants in the country.
Over the life of the agreement, the project is expected to avoid approximately 15,840 metric tons of CO₂e emissions per year [1], supporting Teva’s goal to reduce Scope 1 and 2 emissions by 46.2% by 2030. It also sets a precedent for integrating storage within VPPA structures, enhancing grid resilience and the value of renewable energy procurement.
“This agreement represents another significant step forward in our decarbonization journey,” said Josh Decktor, Vice President, Head of Global Environment Health Safety & Sustainability, Teva. By investing in a newly built solar asset with integrated storage, we are not only securing clean energy but also enhancing grid resilience and flexibility – key components of our strategy to meet our science-based targets.”
„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. “– Severin Vartigov, Chief Commercial Officer at Enery
The Power Purchase Agreement between Enery and Teva will facilitate the construction of a new 122 MWp photovoltaic park, equipped with two battery storage systems 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 annually.
About Enery:
Enery is an independent power producer committed to supplying its customers with reliable, affordable, and long-term green energy solutions. The company operates a diversified portfolio with 511 MW of installed capacity and 212 MW under construction, generating 724 GWh of clean electricity – enough to power more than 246,506 households and prevent nearly 220,267 tons of CO₂ emissions annually. With a development pipeline of almost 10 GW across 10 countries in CEE, Enery is leading the energy transition in the region. Beyond developing, building, and operating renewable energy projects, Enery is also a leader in optimizing revenue streams for utility-scale renewable and storage assets with almost 700 MWh of third-party storage assets under management. Enery provides 24/7 green electricity to industrial consumers and is a leader in Corporate Green PPAs in the region. With a diverse team from 30 nationalities, Enery embeds ESG principles across its operations to create lasting value for communities, partners, and future generations.
For contacts:
Enery Press Office – press@enery.energy
[1] Total expected volume of electricity generated the first year of the PPA (60 GWh) x 2024 Bulgarian electricity carbon intensity (264 gCO₂e/kWh – Our World in Data) = 15,840 tCO₂e”