Storage technologies can ease the path to decarbonisation and provide electricity distribution and transmission companies with certainty in the face of the steep growth of grid-connected variable renewable energy technologies such as wind and solar. In order to maximise the potential of battery storage, it is necessary to review the main regulatory and economic barriers and share best practices from the world's most advanced markets to overcome them.
These are some of the main findings from the discussion during a roundtable organized by CSD on 11 April 2024 on "Balancing the Energy Transition: deploying energy storage technologies in Bulgaria". The discussion focused on the obstacles and opportunities for Bulgarian business in the process of deploying storage systems in Bulgaria's energy system.
In addition to the CSD team, the discussion featured Rumyana Grozeva, Executive Director of the Regional Economic Development Agency, Dimitar Tsviatkov, Partner and Head of the Energy, Projects and Construction Department at CMS Sofia Law Firm, Ivan Tsankov, Executive Director of AES Bulgaria, Tsvetelina Borislavova, Chairman of the Supervisory Board at the Bulgarian-American Credit Bank, Dragomir Ivanov, Executive Director of Hydrogenera, and Dimitar Bartov, Manager at Synergon Energy.
Tsvetelina Borislavova stressed that there is a serious appetite of the banking sector to invest in cutting-edge green technologies and through a synergistic approach between innovators, businesses and financial institutions 95% of the problems caused by the lack of regulatory framework can be resolved. Dragomir Ivanov explained that the use of surplus renewable energy for hydrogen production can lead to significant margins in business as the process is efficient and low carbon. Ivan Tsankov shared AES Bulgaria's investment plans to transform one of the power plant's units into a molten salt storage system. Dimitar Bartov stressed the fact that despite the urgent need for battery storage, Bulgaria cannot afford to think in limited time or geographical frames and called for economically sound thinking when planning new investments in the energy sector.
All speakers agreed that with the right long-term strategy, Bulgaria can position itself as a key player in the regional energy sector, attracting investments that drive innovation, lead to technological advances and stimulate economic growth.
