Romania’s €103 million scheme to support the construction of electricity storage facilities has been approved by the European Commission. This aid is part of the country’s broader Recovery and Resilience Plan, which aims to make Romania more sustainable, resilient, and better prepared for the challenges and opportunities of the green and digital transitions.

The approval of this scheme is good news for the planet as it aligns with the EU’s commitment to reaching climate neutrality by 2050 and achieving its renewable energy targets, such as increasing the share of renewables in final energy consumption to 32% by 2030. You can read about the EU Green deal by clicking on our ezcard below, you will be taken to the article.

The scheme will provide direct grants to innovative energy storage projects and local businesses, with a maximum aid amount per beneficiary of €167,000 per MWh or €15 million. Construction of electricity storage facilities, including technologies like pumped hydro storage, batteries, and thermal energy storage, is critical to balancing the power grid as it allows energy to be stored when it is available and released when it is needed, this is particularly important given the intermittent nature of renewable energy sources like solar and wind. The projects will be selected by December 31, 2023 and must be completed by December 31, 2025.

In summary, the European Commission’s approval of the plan for building electricity storage facilities is a great move towards a greener future for Earth. This effort, which supports the EU’s goals for climate neutrality and renewable energy, shows how using advanced energy storage methods can help create a stable, strong power grid. As more nations take on similar initiatives, we can stay optimistic that our joint actions will result in a more eco-friendly, sustainable world for future generations.