How much money will Romania provide for battery energy storage systems?
The Ministry of Energy of Romania will provide just over €103 million in financial support for battery energy storage system (BESS) deployments in the country. Minister of Energy Virgil Popescu signed an order approving the state aid scheme for investments in battery energy storage systems on Monday, 28 November, announced via his Facebook page.
Does Romania have a grant program for battery energy storage systems?
The Romanian Ministry of Energy has launched a grant program for battery energy storage systems developed in conjunction with existing renewable energy facilities – wind, solar, or hydro. From ESS News Romania has launched a new subsidy scheme for behind-the-meter battery energy storage systems to the tune of €150 million ($158 million).
When will a battery storage grant be available?
Bids will be accepted until January 17, 2025. Under the scheme, grants will be available for battery storage systems built alongside existing renewable energy plants – wind, solar or hydro. The storage capacity should annually absorb at least 75% of the energy produced by the renewable energy facility to which it is directly connected.
When will a new battery storage system be able to be built?
With the funding secured from the Modernization Fund, the Ministry of Energy launched the competitive bidding call on Tuesday. Bids will be accepted until January 17, 2025. Under the scheme, grants will be available for battery storage systems built alongside existing renewable energy plants – wind, solar or hydro.
Will a solar project help the battery storage market?
A solar project from developer Econergy in Romania. The country’s solar sector is set to grow substantially, which will help the battery storage market kick on. Image: Econergy. The European Commission has approved a €103 million (US$125 million) package of direct grants from the government in Romania for battery storage projects.
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