Bulgaria backed by EIB for 1.6 GW of pumped storage

The European Investment Bank (EIB) will conduct economic and technological feasibility studies on two Bulgarian pumped storage hydropower plants due to be operational by 2032. The projects will each add generation capacity of around 800 MW and will both come with a price tag of around €900 ($964) million.

From pv magazine ESS News site

The EIB will advise and support Bulgaria’s national electricity company Natsionalna Elektricheska Kompania EAD (NEK) as it embarks on the construction of two large pumped storage hydropower plants in the southwestern part of the country. The projects are named after the towns in which they will be located – Batak and Dospat.

It is expected they will be operational by 2032. When they are completed, the Batak and Dospat plants will each add a generation capacity of approximately 800 MW, strengthening Bulgaria’s electricity supply and expanding its storage capacity.

They will boost grid flexibility, providing NEK with flexible 24-hour and weekly management, rapid capacity replacement during emergencies, and additional balancing services.

Each plant will cost around €900 million. The EIB will advise the NEK on technical feasibility and economic viability so the organization can make strategic decisions about the development of the two plants.

To continue reading, please visit our ESS News website.

This post appeared first on PV Magazine.

Share This Post