EBRD Backs 246 MW Battery Storage Project in Bulgaria
The European Bank for Reconstruction and Development (EBRD) is providing a €30 million loan to Tenevo Solar Technologies for a battery energy storage system (BESS) in Bulgaria. Raiffeisen Bank International AG is contributing €30 million, creating a €60 million financing package.
The facility will provide 246 MW of power capacity and 512.5 MWh of storage. It will be co-located with a 242 MWp solar photovoltaic plant and a 65 MW battery installation with 260 MWh of storage, expanding the site’s overall capacity to support grid stability and renewable energy integration. The role of storage in supporting grid energy storage and stability is increasingly important as renewable generation grows.
“By increasing the system’s flexibility and helping to integrate more renewable energy, Tenevo will contribute to a more resilient, secure and sustainable power sector,” said Manuela Naessl, EBRD Head of Bulgaria.
The project adds to Bulgaria’s storage fleet, which exceeds 6.2 GW / 19 GWh. Battery systems can balance variable generation by storing surplus electricity and releasing it when needed.
Source: European Bank for Reconstruction and Development (EBRD)
