European Commission greenligths €100 Mio. for Romania
The European Commission has approved a package of direct grants worth €103 million to be provided by the government in Romania for battery storage projects. The financial support in the form of direct grants was announced by the government in November 2022 and will be used for at least 616 MWh of battery storage projects. Projects will be selected by Dec. 31, 2023, and must be completed by Dec. 31, 2025. The program will receive €79 million from Romania's share of the Recovery and Resilience Plan, the EU-wide program to mitigate the negative economic impact of the Covid pandemic, with the remaining costs covered by the government. Finland and Greece are also using the funding pot to support energy storage projects. Romania is currently targeting 30.7% renewables in its electricity mix by 2030. Although there have been few energy storage projects in recent years, the booming solar market is expected to help battery storage projects move forward as well.
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