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Investors in electricity storage facilities will have to pay a deposit or provide a bank guarantee of BGN 50,000 (EUR 25,600) per MWh of capacity planned to be connected to the transmission or distribution grid.
The intention is to curb speculative investments in the energy sector and encourage genuine interest in projects to store electricity from renewable energy sources, according to the Energy and Water Regulatory Commission (KEVR).
The measure is part of the amendments to KEVR’s regulation on connecting facilities to the grid. The changes are also aimed at preventing potential issues in the implementation of the RESTORE program, launched in August.
A deposit or bank guarantee will create an obstacle for investors who are speculatively occupying the capacity for the grid
It envisages EUR 589 million in grants for standalone energy storage projects. The program is financed under the National Recovery and Resilience Plan (NRRP). The project envisages the construction of batteries with a usable (guaranteed) capacity of 3 GWh.
According to KEVR, a deposit or bank guarantee would create an obstacle for investors speculatively occupying the grid’s available capacity for energy storage. They don’t intend to install the facilities but to resell their projects, KEVR said.
The deposit or bank guarantee has to be submitted upon receipt of the network operator’s opinion on the request to connect an electricity storage unit. The deadline is three months after the opinion is issued.
The deadline for applications is November 21
The RESTORE program will cover expenses incurred after June 25. The deadline for applications is November 21 while companies will compete for EUR 589 million.
Each firm can apply for up to EUR 75.9 million per project. The maximum is 50% of eligible costs and no more than EUR 189,700 per MWh, excluding value-added tax. The selected energy storage facilities must be put into operation by the end of March 2026.
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