EC greenlights €590 million for Bulgarian storage projects

Green Forum

29 November, 2024 at 7:24 AM

The European Commission has approved a €590 million state aid scheme in Bulgaria to support investments in energy storage facilities, accelerating the country's transition to a net-zero economy.

The initiative aims to add at least 3 GWh of energy storage capacity to Bulgaria's electricity grid. This enhancement will enable greater integration of renewable energy sources while ensuring grid stability and security, according to the EC's statement. Funding will be provided as direct grants and will be available for all energy storage technologies.

The financial support will cover up to 50% of eligible project costs, with aid to be distributed by December 31, 2025.

The funding will be entirely drawn from the EU's Recovery and Resilience Facility (RRF), following the EC's positive assessment of Bulgaria's Recovery and Resilience Plan and its adoption by the European Council.

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