A call for new energy storage capacity in Bulgaria has awarded 9,712.89 MWh of projects with a total investment value of BGN 1.149 billion (USD 675.8m/EUR 587.5m), the Balkan country''s energy ministry said on Thursday.
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Bulgaria prepared EUR 589 million in grants for standalone energy storage projects. The deadline for applications is November 21.
Bulgaria has selected 82 winning energy storage projects for a share of BGN 1.15 billion (€588 million) in financial support.
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Bulgaria will finance 82 independent renewable energy storage projects worth over 1.15 billion leva (588 million euros) under the EU-funded program called RESTORE, the Energy Ministry in Sofia announced last week.
Shanghai Sermatec Energy Technology Co., Ltd. signs an agreement to install 430 MWh of energy storage in Bulgaria, consolidating its position in the European market and
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The next big challenge for energy storage, after bringing down the cost so that storage is economic and finding a suitable business model, is financing.
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.
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.
The deadline for submission of project proposals was December 5, 2024. The Bulgarian Ministry of Energy announced on December 6 that it has received 151 project proposals worth nearly BGN 5 billion, which far exceeded the available funding of BGN 1.154 billion. Of the submitted proposals, 118 projects—totaling BGN 1.6 billion—were shortlisted.
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 2026.
Grant funding is capped at BGN 148.6 million per project, covering up to 50% of eligible costs, and limited to BGN 371,607.70 per MWh of usable capacity (excluding VAT). This tender marks a significant milestone in Bulgaria’s broader decarbonization agenda.
The selected projects will deliver a total usable energy storage capacity of 9,712.89 MWh, the Ministry of Energy said on April 17, more than three times the minimum target of 3 GWh originally set by the tender. The deadline for submission of project proposals was December 5, 2024.
