Investment interest high ahead of energy storage auctions

The energy ministry is aiming to stage an inaugural energy storage auction within the first quarter of 2023. Investors are expressing tremendous interest in energy storage.

The auction will offer energy storage tariffs – for every MWh stored – worth a total of 200 million euros, to be made available through the Recovery and Resilience Facility over the fist ten-year period of investments.

Participants submitting the lowest bids will qualify for this RRF amount as support for their energy storage investments.

Over the next few months, government officials will need to complete work on a regulatory framework concerning energy storage, and, in addition, investors must push ahead with their project licensing procedures to become eligible for the upcoming first auction.

Tariffs for an overall capacity of approximately 450 MW are expected to be offered at the first energy storage auction, while an extra 450-MW capacity is planned to be made available to investors at a follow-up auction in the second quarter of 2023.

The projects of auction participants are expected to greatly exceed the total capacity of 900 MW to be offered.