Bulgaria is now home to the largest electricity storage facility in the European Union. With an installed capacity of 124 MW and a capacity of 496 MWh, the battery, built by “Advance Green Energy“ AD in Lovech, marks a new stage in the development of the country's energy infrastructure. This is what economic.bg writes.
The ceremony, which took place on May 22 in the city, was attended by the Minister of Energy Zhecho Stankov, the Mayor of Lovech Stratsimir Petkov, the investors in the project Kiril and Georgi Domuschievi, the deputies Delyan Dobrev (GERB) and Stanislav Atanasov ("DPS-New Beginning"), the Executive Director of ESO Angel Tsachev and the Chief Architect of the Municipality of Lovech Ralitsa Marinova.
Angel Zhelyazkov, Vice President of “Hyvepharma“ and Executive Director of “Biovet“, is also part of the project.
The project includes 16 modules, each with a power of 7.8 MW and a capacity of 31.03 MWh, equipped with 111 lithium-iron-phosphate batteries - one of the most established technologies on the energy storage market. Each charging and discharging of the modules takes place within 4 hours. With these characteristics, it is not only a technological achievement, but also a strategic tool for balancing the electricity system. By storing cheap green energy and releasing it during peak demand hours, it will directly contribute to the stability of the grid and the predictability of prices - factors of key importance for the industry and the transition to a sustainable economy.
The storage system is part of the largest hybrid park within the EU, which also has a photovoltaic plant with a capacity of 106 MW. It is connected to the first and only licensed closed distribution network in Bulgaria in the “Balkan Industrial Park“ in Lovech. The investment in the project is 146.7 million leva, with own funds, co-financed through a loan from “Citibank“, being 89 million leva, and nearly 58 million leva being financial assistance under the Recovery and Resilience Plan, Restore measure.
The installation of the storage system was completed in less than six months, making it one of the fastest implemented facilities of a similar scale in the region. This also includes inverters, transformer stations, a cabling system and an intelligent control system, which support the efficient and safe operation of the complex.
During the opening, Georgi Domuschiev pointed out that one of the main advantages of such facilities is the possibility of cheap green energy produced during the day to be used during peak hours, which could contribute to reducing electricity prices, especially for industry, and in the long term – and for household consumers.
Minister Zhecho Stankov stated that this is a strategic investment, with forecasts that by the end of next year the installed capacity of battery systems in Bulgaria will reach 10,000 MWh. Such a development would be of significant importance for the flexibility, predictability and balancing of the electricity system in the country.
This is the largest electricity storage facility within the EU and the fifth in the world. Of course, our expectations as to the scale of the investment are that there will be economic development here and that there will be development and restoration of the industrial potential of our city together with the “Balkan“ AD, which is also here on the territory of this plot“, commented the mayor of Lovech Stratsimir Petkov.
The event marks an important moment in the process of energy transformation in Bulgaria, in which energy storage begins to play a significant role in the sustainability of the grid and the development of a low-carbon economy.