A unicorn has risen
Shelly, the most liquid company on the Bulgarian Stock Exchange, has reached a market valuation of more than 1 billion dollars, effectively granting it "unicorn" status in dollar terms. Though unicorns are typically private startups, this milestone is notable as it's based on public market valuation by many investors. A weaker dollar helped push the company over the billion mark.
Shelly, formerly known as Alterco, an IoT innovator specializing in Smart technology, was valued at just 22 million levs when it listed less than a decade ago. Its growth accelerated after listing on the Frankfurt Stock Exchange in 2021, with shares rising 40% in the past month alone. Foreign investor interest, especially from Sweden, has been strong, indirectly boosting the entire Bulgarian stock market.
Grid risk grows as solar and wind energy take over
The growing reliance on solar and wind energy in Bulgaria is making it increasingly difficult to balance the energy system, posing risks similar to recent grid failures in Spain. Unlike traditional power sources like hydro, nuclear, and thermal plants, solar and wind are "non-synchronous" and cannot help stabilize the grid. These sources connect via converters and don't directly support grid frequency or stability.
Experts warn that Bulgaria's daytime energy profile already resembles risky conditions seen elsewhere in Europe. During winter, as much as 68% of daytime power comes from non-synchronous sources, while at night, stable sources dominate. Additional issues include increased transmission losses, low-frequency power fluctuations, and difficulty scheduling maintenance.
Public information campaign on euro coming soon
The Bulgarian Ministry of Finance is preparing a nationwide roadshow to inform citizens and businesses about the introduction of the euro as the official currency. This campaign will begin after the final decision on Bulgaria's entry into the Eurozone, expected on July 8.
Deputy Finance Minister Metodi Metodiev announced that the campaign will intensify in the coming weeks. The roadshow will visit all 28 regional cities and more than 100 smaller towns, hosting 64 informational events. It will include digital outreach, media involvement, billboards, and printed brochures distributed in newspapers and post offices. Public procurement procedures for the campaign's implementation are already underway.
A unicorn has risen
Shelly, the most liquid company on the Bulgarian Stock Exchange, has reached a market valuation of more than 1 billion dollars, effectively granting it "unicorn" status in dollar terms. Though unicorns are typically private startups, this milestone is notable as it's based on public market valuation by many investors. A weaker dollar helped push the company over the billion mark.
