expected ROI of VRFB energy storage project in Bulgaria 2030

Why is energy storage growing in Bulgaria?

Energy storage in Bulgaria is expanding rapidly as the government awards nearly 10 GWh of capacity to 82 projects, boosting renewable energy reliability and grid stability.

How much money does the Bulgarian Energy Ministry provide for energy storage?

The Bulgarian Energy Ministry opened a tender procedure for supply of energy storage on August 21, . The procedure aims to provide funding for construction and implementation of a 3,000 MWh stand-alone battery storage facility. The total amount of the grant that can be provided under the procedure is €590 million ($ 536 million).

How much battery energy Storge capacity does Bulgaria have?

Bulgaria has installed between 40 MWh and 50 MWh of battery energy storge capacity to date. However, new national legislation as well as funds provided through the European Union’s Recovery and Resilience Facility (RRF) could add another 1 GWh of storage capacity over the next two years.

How much money does the NRRP provide for energy projects in Bulgaria?

Under the RESTORE initiative, launched through Bulgaria’s National Recovery and Resilience Plan (NRRP), the Ministry of Energy has selected 82 projects that will collectively receive BGN 1.15 billion (approximately $675 million) in public funding.

What can boost battery storage in Bulgaria?

Another development that can boost battery storage in Bulgaria is a recent update of national legislation to include battery energy storage systems as a component of the grid.

How many projects will be financed under the restore procedure?

82 projects for the construction and commissioning of stand-alone electricity storage facilities with a total value of BGN 1 149 013 428.49 will be financed under the ReSTORE procedure. The total usable energy storage capacity of the facilities is .89 MWh.

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