Electricity

Montenegro is moving toward a strategic-partner model for a 60 MW / 240 MWh battery project after the government did not approve borrowing for EPCG’s planned procurement. A government working group is now tasked with the strategic project.

Credible grid access and manageable reinforcement obligations are becoming central to the value and financeability of battery storage projects in Serbia. EMS updated its connection-request lists on 4 November 2026, reflecting an increasingly active project pipeline.

The Scornicesti battery will use non-recourse project finance with InvestEU risk support. Its merchant revenue model comes as Romania’s operational storage fleet expands and competition for market revenues grows.

Around 2 GW of battery projects in Serbia had signed grid-connection agreements in September 2026. Financing conditions and revenue certainty will determine which projects are built.

Bulgaria’s storage fleet is estimated at more than 6.2 GW of power capacity and 19 GWh of energy capacity, enough to reshape regional day-ahead prices. By shifting electricity between low- and high-price hours, batteries support exports during scarcity periods while compressing the spreads available to storage projects.

Battery storage projects in Romania and Bulgaria are drawing EBRD-backed financing, while a project in North Macedonia has sovereign and concessional support. Lenders need to test technical performance, grid access, market revenues and debt-service coverage under realistic downside scenarios.