March 23 (Renewables Now) - The European Commission (EC) has granted its approval to Romania’s plan to launch a EUR-103-million (USD 112.5m) grant scheme to back the installation of battery energy storage systems (BESS) in order to facilitate the renewables expansion.
The initiative will be partially funded through Romania's National Recovery and Resilience Plan (NPRR), the watchdog said on Tuesday. As previously announced, that amount will stand at roughly EUR 80 million, with the remaining amount to be sourced from state funds.
The BESS scheme is intended to support investments in battery energy storage facilities that will enable the smooth integration of electricity generated by wind and solar parks into the grid. Under the plan, funds will be disbursed as a direct grant to projects that have been selected through competitive bidding. Winners in that process are due to be selected by December 31, 2023, while the capacity should become operational by end-December 2025.
The funding to be allocated should not exceed 100% of the project’s funding requirements, EUR 167,000 per installed MWh or EUR 15 million per individual project.
Romania aims to have at least 240 MW/480 MWh of energy storage facilities in operation by the end of 2025.
(EUR 1.0 = USD 1.092)
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