St. Nikola Wind Farm to offer guarantees of origin on IBEX

September 18, 2025

The St. Nikola Wind Farm, owned by AES Bulgaria, has become the first and only wind park in the country to sign an agreement with the Independent Bulgarian Energy Exchange (IBEX) to provide liquidity in the ‘Guarantees of origin’ market segment. The wind farm, the largest in Bulgaria, will offer guarantees of origin for its entire production in this market segment.

The St. Nikola Wind Farm, located near Kavarna, will offer all guarantees for its entire generated electricity output for sale exclusively on the exchange. According to Martin Boyadzhiev, Commercial and Regulatory Manager of AES Bulgaria, this historically amounts to about 330,000 MWh per year. Over the last 12 months, the St. Nikola Wind Farm has ranked third among renewable energy producers in Bulgaria. For the first half of 2025, the park produced 152,520 MWh of green energy.

‘As part of AES Bulgaria, the St. Nikola Wind Farm is a responsible market player and has always supported market development over the years. In this regard, it is important for us that the ‘Guarantees of origin’ market segment develops and that RES producers and energy consumers have access to a liquid and transparent market of these instruments,’ commented Ivan Tzankov, Country President of AES Bulgaria

‘We believe that our agreement with IBEX will strengthen our company’s image as a market leader and innovator,’ Martin Boyadhziev added. AES Geo Energy was recognized with the ‘Innovator’ award at the fifth anniversary of IBEX's Day-Ahead market. With its advanced and environmentally friendly technology, the St. Nikola Wind Farm generates reliable energy and is a stable and sustainable energy provider for the national mix.

‘For IBEX every such strategic partnership is important for market development since it increases trust, attracts new participants and accelerate the formation of fair reference prices. The participation of leading producers like the St. Nikola Wind Farm increases transparency and liquidity and makes the product even more attractive to all market players’, commented Dian Boev, CEO of IBEX.