By the deadline for applications - 5 December 2024, 151 proposals were submitted under the procedure for the construction of a national infrastructure for storage of renewable energy (RESTORE) of the National Recovery and Sustainability Plan for a total value of nearly BGN 5 billion, the Ministry of Energy informed. The grant amounts to almost BGN 1.154 billion. The maximum intensity of the grant under the procedure is up to 50% of the eligible costs for 1 MWh of usable energy capacity. There is no minimum funding amount for each proposal and the maximum is BGN 148 643 080.
This investment supports the construction and commissioning of electricity storage facilities from renewable sources with a minimum of 3000 MWh of usable energy capacity, connected to the electricity transmission and distribution grids in Bulgaria. "I am pleased with the strong interest in building renewable energy storage facilities. This guarantees a significant increase in the share of renewable energy in the energy mix, fully in line with the challenges of the European Green Deal and the carbon-free future of the energy sector. The successful implementation of battery projects will contribute significantly to the security of the energy system in Bulgaria and the region", Energy Minister Vladimir Malinov said.
The investments under the procedure must be completed and the facilities commissioned by March 2026. The maturity of the projects and their implementation will be reviewed in May 2025.
Source: Ministry of Energy
