Once operational, the facility will be one of the largest battery storage plants in the Southeast Europe region. The project is designed to capture intraday price volatility and high balancing costs that characterise electricity markets across the region, particularly in Romania.
"The project will also act as a natural hedge to the Group's renewable electricity production and supply activities, further strengthening the Group's strategy of diversification and vertical integration across the electricity value chain," said Jose Garza, CEO of Premier Energy.
The total development and construction cost is estimated at approximately €75 million. The company's management is currently working on securing financing for the project with a major CEE financial institution.
