Bulgaria is set to potentially advance one of its largest energy storage developments to date, as the European Bank for Reconstruction and Development (EBRD) considers financial backing for a new large-scale battery project within the Tenevo renewable energy complex.
The proposed support package includes a senior secured loan of up to €30 million for Tenevo Solar Technologies. These funds would contribute to the construction of a battery energy storage system with a planned capacity of 246 MW and 512.5 MWh, with the total project investment estimated at around €70 million.
Rather than operating as a standalone facility, the new storage unit will be fully integrated into the existing Tenevo renewable energy hub in southeastern Bulgaria. The site already hosts a 242 MW solar power plant along with a 65 MW/260 MWh battery system that forms the first phase of its expansion strategy.
Once completed, the second battery installation will significantly expand the site’s ability to store and dispatch renewable electricity when demand peaks. This enhancement is expected to improve grid flexibility, support additional renewable generation, and help balance rising electricity needs across Bulgaria and neighboring Central and Eastern European markets.
Tenevo Solar Technologies is jointly owned by Austrian investor Renalfa IPP and Danish developer Eurowind Energy, both of which see large-scale energy storage as a key pillar of the region’s clean energy transition. Their long-term strategy focuses on building integrated renewable systems combining solar generation and battery storage.
The EBRD’s potential involvement also highlights its growing role in financing renewable energy infrastructure across the region. Earlier this year, the bank approved €70 million in funding for Renalfa-linked projects in Hungary, part of a broader €210 million package supporting a 450 MW solar and 250 MW/1 GWh storage portfolio.
The planned expansion at Tenevo is part of a wider regional strategy that envisions a total battery complex of around 315 MW and 760 MWh at the site. The wider Renalfa group currently operates over 779 MW of energy assets and is developing more than 1.8 GW of additional projects across multiple Central and Eastern European countries.
If the financing is approved, the project would further strengthen Bulgaria’s position as a leading hub for utility-scale battery storage and renewable energy investment in the region.
