Bulgaria wants your feedback on renewable energy storage project.

By Oliver Townsend Jun 26, 2024
Bulgaria seeks comments on renewable energy storage tender.webpOrginal image from: https://seenews.com/news/bulgaria-seeks-comments-on-renewable-energy-storage-tender-1259684

Bulgaria is taking significant steps towards expanding its renewable energy sector by opening public consultations on a tender focused on building infrastructure for storing electricity generated from renewable sources. This initiative, named Restore, aims to allocate 1.2 billion levs (approximately $657.4 million/613.5 million euros) towards constructing and commissioning a national infrastructure for renewable energy storage facilities with a minimum capacity of 3,000 MWh of usable energy. This move is part of Bulgaria’s National Recovery and Resilience Plan (NRRP) to increase the share of clean energy in the country’s energy mix and develop essential storage infrastructure.

Benefits of the Restore Initiative

The Restore initiative is a crucial step towards enhancing the efficiency of Bulgaria’s power system by constructing storage facilities that facilitate the balancing and management of energy. By successfully implementing this initiative, Bulgaria aims to ensure the security and stability of its power system while also creating opportunities to integrate green energy into domestic and regional markets. Minister Vladimir Malinov highlighted the importance of storage facilities in maintaining a secure power system and emphasized the positive impact this project will have on Bulgaria’s energy sector.

Public Consultations and Funding Details

As part of the public consultations, stakeholders will have the opportunity to provide feedback on the renewable energy storage tender, contributing to the development of a robust and inclusive infrastructure. The grants under this initiative will cover up to 50% of eligible costs, with a maximum cap of 371,600 levs per MWh of usable energy capacity. By involving the public in this process, Bulgaria aims to create a transparent and collaborative approach to building renewable energy storage facilities and ensuring the successful implementation of the Restore initiative.

Conclusion

The public consultations on Bulgaria’s renewable energy storage tender signify a significant step towards advancing the country’s clean energy objectives and strengthening its energy infrastructure. By seeking input from stakeholders and providing financial support for the construction of storage facilities, Bulgaria is paving the way for a more sustainable and resilient energy sector. The Restore initiative is poised to play a key role in driving the transition towards a greener energy mix and enhancing Bulgaria’s position in the renewable energy landscape.

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