Following acomprehensive and forward-looking evaluation, Avesta Holding has decided not to pursue the planned BulgaPower project in Bulgaria further at this stage. This decision reflects recent political developments and highlights the importance of operating within a stable, transparent and consistently supportive institutional framework when advancing large-scale industrial investments of this nature.
While this marks a shift in geographical focus, it also reinforces Avesta Holding’s disciplined and strategic approach to long-term project development. The company remains firmly committed to its growth ambitions and to delivering impactful, future-oriented energy solutions across Europe. In this context, Avesta Holding is actively exploring alternative locations where the right conditions for sustainable development, long-termstability, and strong institutional backing are present. Several promising opportunities are currently under evaluation, with due diligence processes already underway.
At the same time, Avesta Holding continues to make significant progress within Belgium, where its activities are developing steadily and in line with expectations. In Ninove, important steps are being taken toward securing the necessary permits for a recycling capacity of up to 300 tons/year. This initiative forms a key part of Avesta’s commitment to circular economy principles and sustainable resource management, further strengthening its position within the European battery ecosystem.
In parallel, construction activities at the Seneffe site are advancing well, supported by strong coordination and execution on site. The project is progressing accordingto plan and is expected to become operational in the first quarter of 2027. Once operational, the facility will target a production capacity of 6 GWh/year, representing a major milestone in Avesta Holding’s industrial expansion and its contribution to Europe’s energy transition.
Beyond its operational projects, Avesta Holding continues to invest in research and development, with a focus on innovation, performance optimization and the scaling of advanced battery technologies. These efforts are essential to maintaining a competitive edge and ensuring the successful commercialization of next-generation energy storage solutions.
Avesta Holding looks to the future with confidence and is committed to continuously strengthening its capabilities across all areas of the organization. By doing so, the company aims to further position itself as a strong and independent European player in the battery and energy sector.
The company remains fully focused on long-term growth, sustainability, and technological excellence. Avesta Holding extends its sincere appreciation to all partners, stakeholders and teams for their continued collaboration, trust, and dedication throughout every phase of its development journey.
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