Investors planning to develop electricity storage facilities in Bulgaria will now need to pay a deposit or provide a bank guarantee of BGN 50,000 (approximately EUR 25,600) for each MWh of capacity they intend to connect to the transmission or distribution grid. This measure, introduced by the Energy and Water Regulatory Commission (KEVR), aims to reduce speculative investments in the energy sector and promote genuine interest in projects that store electricity generated from renewable sources.
The requirement is part of amendments to KEVR’s regulations regarding grid connections and is designed to mitigate potential challenges in implementing the RESTORE program, which was launched in August. This program allocates EUR 589 million in grants specifically for standalone energy storage projects and is funded through the National Recovery and Resilience Plan (NRRP). It envisions the construction of batteries with a guaranteed usable capacity of 3 GWh.
According to KEVR, the new deposit or bank guarantee requirement will deter investors who may seek to occupy grid capacity without the intention of actually developing storage facilities, thereby preventing speculation. The deposit or guarantee must be submitted upon receiving the network operator’s opinion regarding the connection request. Investors will have three months to provide the necessary funds after this opinion is issued.
The RESTORE program will cover costs incurred after June 25, with applications open until November 21. Companies can compete for a total of EUR 589 million, with each eligible firm allowed to apply for up to EUR 75.9 million per project. Funding will cover a maximum of 50% of eligible costs, capped at EUR 189,700 per MWh (excluding VAT). Selected energy storage facilities must be operational by the end of March 2026.
