EC approved Romania’s battery storage support scheme, SEE Energy News
The European Commission (EC) has approved Romania’s plan to launch a 103 million euros worth support scheme for the installation of battery energy storage system aimed to facilitate the expansion of renewable energy capacities.
The Commission said that the initiative will be partially funded through Romania’s National Recovery and Resilience Plan (NPRR) of around 80 million euros, with the remaining amount to be sourced from state funds.
The battery storage support scheme is intended to support investments in battery energy storage facilities that will enable the smooth integration of electricity generated by wind farms and solar power plants into the network.
Under the plan, funds will be disbursed as a direct grant to projects that have been selected through competitive bidding. Winners in that process should be selected by 31 December 2023, while the capacity should become operational by end- December 2025.
The funding to be allocated should not exceed 100 % of the project’s funding requirements, 167,000 euros per installed MWh or 15 million euros per individual project.
Romania aims to have at least 240 MW/480 MWh of energy storage facilities in operation by the end of 2025.