How much money is needed for energy storage projects in Bulgaria?
The Ministry of Energy of Bulgaria prepared EUR 589 million in grants for standalone energy storage projects. The deadline for applications is November 21. With the surge in photovoltaic capacity, ambitious plans for renewables overall and a collapse in the coal power segment, Bulgaria needs urgent grid upgrades alongside energy storage.
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.
How will the selected storage systems be distributed in Bulgaria?
The selected storage systems will be geographically distributed across Bulgaria and connected either to the national transmission grid or local distribution networks. All awarded projects must be operational by March .
Why is the Ministry of energy launching a call for standalone energy storage units?
The Ministry of Energy acknowledged that it is issuing the public call for standalone energy storage units after a long delay. The main objective of the investment is to facilitate a significant increase in the share of wind and solar power in the energy mix and to guarantee the security and stability of the national electricity system.
The first round of funding, worth approximately €54 million, will support 200 smaller-scale renewable energy and energy storage projects ranging from 200 kW to 2 MW. The second round, with a budget of approximately €472 million, will fund larger-scale projects with a capacity of over 200 kW.Bulgaria supports 3.1GW of renewables and 1.1GW of storage
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