Inter Power announces the launch of two new industrial battery storage financing programs for photovoltaic (PV) power plants under the National Recovery and Sustainability Plan. These programs are aimed at supporting the deployment of new renewable electricity generation and storage capacity.
New Programs
Program BG-RRP-4.032 - Support for new renewable electricity generation and energy storage capacity with an installed capacity of 200 kW to 2 MW.
This programme has a total budget of BGN 107 570 650. The funding is targeted at new solar and/or wind power generation capacity combined with local energy storage (LESS). The aim is to build at least 200 MW of generation capacity and 100 MW of LSS.
- Minimum amount of funding: None
- Maximum amount of funding: BGN 35 854 000 per project
- Maximum funding intensity: Up to 50% of eligible costs, but not more than BGN 1 075 706 (excluding VAT) per 1 MW of installed capacity of the LSS
Program BG-RRP-4.033- Support for new renewable electricity generation and energy storage capacities with an installed capacity exceeding 200 kW.
The total budget of this programme is BGN 427 544 438. Funding is targeted at new solar and/or wind power generation capacity with LCC, with the aim of building a minimum of 940 MW of generation capacity and 200 MW of LCC.
- Minimum funding amount: None
- Maximum amount of funding: BGN 58 674 900 per project
- Maximum funding intensity: Up to 50% of eligible costs, but not more than BGN 743 215 (excluding VAT) per 1 MW of installed capacity of the LCC
Main Conditions and Requirements
The programmes require the installation of local energy storage facilities (LESS) which must meet the following conditions:
- The LSS must have a minimum capacity of 30% to 50% of the installed capacity of the generation component of the project.
- Guaranteed capacity of the LSS for at least 2 hours (calculated as the ratio of capacity in MWh to maximum charging/discharging power in MW, with a C-Rate of maximum C/2).
For plants with an installed capacity of more than 400 kW, the LCC or battery converter must have a capacity between 30% and 50% of the installed capacity of the FPP, and the capacity must cover a minimum of 2 hours.
Apply
Eligible applicants for the programmes are companies from all sectors of the Bulgarian economy, except agriculture, forestry and fisheries. The application is open to both plants already built and commissioned after 01.01.2023 and projects under construction, provided that the necessary documentary procedures have been launched and that they have opinions and contracts from the Regional Environmental Protection Agency and the EPD.
The deadline for submitting applications is 12 June 2024. The implementation of the investments must be completed by 31 March 2026.
What does Inter Power propose?
"Inter Power offers comprehensive solutions for applicants, including:
- Conceptual design development
- Delivery and installation
- Warranty and post-warranty service
- Preparation of the necessary documents for application procedures
"Inter Power meets all the requirements for a contractor for these projects. We have already successfully implemented projects under the previous program BG-RRP-4.026 "Support for renewable energy for households."
For more information and consultation on financing and implementation options for your sustainability and energy efficiency projects, please do not hesitate to contact us.
