The European Commission approved a EUR 590 million allocation to support investments in energy storage facilities in Bulgaria, the EU Commission said on 29 November.
The announcement stated that the scheme will be fully funded through the Recovery and Resilience Plan, following the plan's approval by the European Commission and its adoption by the Council of the European Union.
The objective is to add at least three gigawatt-hours of new energy storage capacity to Bulgaria's electricity grid. This will facilitate the integration of additional renewable energy sources into the energy mix. The support will be in the form of non-repayable aid and will be accessible to all storage technologies, the announcement said.
The funds should be available by December 31, 2025.