Bulgaria’s energy storage tender is open to all technologies, but most projects are likely to have proposed lithium-ion battery energy storage systems (BESS) and Malinov mentioned battery projects in his comment.
Specifically, according to data presented by Soltani at the RE-Source Southeast Conference, Bulgaria’s electricity market offers an opportunity for €110 per MWh profit with a battery energy storage system with two hours of discharge capacity using energy arbitrage. Rystad Energy’s analysis has set the battery system costs at a flat €60 per MWh.
The successful implementation of battery projects will significantly contribute to the security of the energy system in Bulgaria and the region.” The scheme was opened by the Ministry in May, and approved by the EU last month.
Bulgaria has installed between 40 MWh and 50 MWh battery energy storage capacity to date. However, a new national legislation as well as funds provided through the European Union’s Recovery and Resilience Facility could see the country install another 1 GWh over the next two years.
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