Bulgaria’s Tenevo Energy complex to expand with 246 MW battery storage facility

More specifically, the EBRD is providing a €30 million loan, while a further €30 million will be made available through parallel financing from Raiffeisen Bank International. The funds will support the construction and operation of a new Battery Energy Storage System (BESS) in the Tenevo area of southeastern Bulgaria.

The new facility will have an installed power capacity of 246 MW and a storage capacity of 512.5 MWh, significantly expanding the energy storage capabilities of the wider energy complex.

The Tenevo Energy Complex

The new battery storage system will be installed alongside an existing 242 MWp photovoltaic park and a second energy storage facility with a power capacity of 65 MW and a storage capacity of 260 MWh.

Notably, both the photovoltaic park and the existing battery storage facility have also received financing from the EBRD and Raiffeisen Bank International.

With the addition of the new facility, the Tenevo energy complex will have a total installed battery storage capacity of 311 MW and an overall storage capacity of 772.5 MWh.

The expansion of energy storage infrastructure is expected to contribute to electricity grid stability, improve the management of renewable energy generation and facilitate the integration of larger volumes of green electricity into Bulgaria’s energy system.

Bulgaria’s Energy Transition

The investment comes at a time when Bulgaria is accelerating its energy transition, seeking to reduce its dependence on fossil fuels and increase the share of renewable energy sources in its energy mix.

According to the latest estimates cited by the EBRD, Bulgaria’s installed battery energy storage capacity has exceeded 6.2 GW, with total storage capacity of approximately 19 GWh. The development of such infrastructure represents one of the most significant developments in the country’s energy transition, strengthening its ability to utilise electricity generated by solar and wind farms.

Meanwhile, since 2023, the EBRD has worked with Bulgaria’s Ministry of Energy on the design of grant programmes, competitive allocation procedures and technical verification mechanisms to support investments in renewable energy sources and energy storage systems through the National Recovery and Resilience Plan.

The relevant programmes were completed in September 2026, contributing to the development of a new market for electricity storage investments.