The European Bank for Reconstruction and Development is considering financial backing for a large-scale battery project within the Tenevo renewable energy complex in Bulgaria. The proposed development would target a battery expansion of 246 MW, according to the bank’s consideration of support.
EBRD-backed financing for Tenevo Solar Technologies
The support package under consideration includes a senior secured loan of up to €30 million for Tenevo Solar Technologies. The loan would help fund construction of a battery energy storage system with a planned capacity of 246 MW and 512.5 MWh. Total project investment is estimated at around €70 million.
The new storage unit is planned to be integrated into the existing Tenevo renewable hub rather than operated as a standalone facility. The site in southeastern Bulgaria already includes a 242 MW solar power plant. It also has a first-phase battery system of 65 MW/260 MWh.
Integration with existing generation and storage
After completion, the second battery installation would expand the site’s ability to store and dispatch renewable electricity during periods of peak demand. The additional capacity is expected to improve grid flexibility and support further renewable generation. It is also intended to help balance rising electricity needs across Bulgaria and neighboring Central and Eastern European markets.
Tenevo Solar Technologies is jointly owned by Austrian investor Renalfa IPP and Danish developer Eurowind Energy. Both companies view large-scale energy storage as a key element of the region’s clean energy transition. Their long-term strategy focuses on integrated renewable systems combining solar generation with battery storage.
Regional EBRD funding context and broader Renalfa pipeline
The EBRD’s potential involvement reflects its role in financing renewable energy infrastructure across the region. Earlier this year, the bank approved €70 million for Renalfa-linked projects in Hungary as part of a broader €210 million package supporting a 450 MW solar and 250 MW/1 GWh storage portfolio.
The Tenevo expansion is part of a wider regional plan for a total battery complex of around 315 MW and 760 MWh at the site. The wider Renalfa group currently operates over 779 MW of energy assets. It is developing more than 1.8 GW of additional projects across multiple Central and Eastern European countries.
If financing is approved, the project would add to Bulgaria’s utility-scale battery storage and renewable energy investment footprint in the region.
