EU approves $125 million of battery storage projects in Romania

Energy Storage News:

The European Commission has approved a €103 million (US$125 million) package of direct grants from the government in Romania for battery storage projects.

The financial support in the form of direct grants was announced by the government in November 2022, reported by Energy-Storage.news at time, and will go towards at least 616MWh of battery storage projects.

That is based on a maximum grant/MWh of €167,000. Other thresholds under the scheme are a maximum of €15 million per beneficiary and a maximum of 100% of the project’s funding gap.

Projects will be selected by 31 December, 2023, and need to be completed by 31 December, 2025.

The programme will receive €79 million from Romania’s portion of the Recovery and Resilience Plan, the EU-wide scheme to mitigate the negative economic effects of the Covid pandemic, while the government will fund the rest. Finland and Greece are also using the funding pot to support energy storage projects.

[Cameron Murray]

More: European Commission approves Romania’s €100 million in grants for battery storage projects