Israeli Firms Launch Major 60 Million Euro Energy Storage Project in Bulgaria
Translated & summarized from Ice by baba
Israeli companies Kelulmobil Energy and Tamanat Energy have launched their first major energy project in Lambrenovo, Bulgaria, a 60 million euro battery storage facility. The 150 MW, 317 MWh facility was connected to the grid within six months of acquisition and is eligible for an 8 million euro EU grant. This project represents a significant step for Israeli firms in the Bulgarian energy sector, with both CEOs highlighting the rapid execution and strategic importance of the venture.
The story in 6 lines · by baba
- Kelulmobil Energy and Tamanat Energy launched a 60 million euro energy storage project in Lambrenovo, Bulgaria.
- The project features a 150 MW, 317 MWh Battery Energy Storage System (BESS).
- The facility was connected to the electricity grid within six months of its acquisition.
- The project is eligible for an 8 million euro grant from the European Union.
- The companies hold a 49-year land use rights for the project site.
- Aviv Pepper and Dan Naor, CEOs of the respective companies, hailed the project as a major milestone.
Kelulmobil Energy and Tamanat Energy have announced the launch of their first energy project in Lambrenovo, northeastern Bulgaria. Kelulmobil Energy, the renewable energy arm of the Kelulmobil group, holds a 60% stake in the project, with Tamanat Energy holding the remaining 40%. The companies reported the completion of the facility's connection to the electricity grid, achieved within six months of its acquisition. The total investment in the project amounts to approximately 60 million euros.
The Lambrenovo facility is a Battery Energy Storage System (BESS) with a capacity of 150 MW and an energy storage capacity of 317 MWh. Located near the city of Silistra, it covers an area of about 16.2 dunams on the site of the old Silistra airport. The project has met the eligibility criteria for an 8 million euro grant under a European Union program.
This completion marks a significant milestone for Israeli companies in the Bulgarian energy market, following nearly a decade of their involvement in developing projects in the country. Aviv Pepper, CEO of Kelulmobil Energy, stated that the operation of the Lambrenovo project is a key step in the company's international growth strategy, highlighting their ability to develop complex assets and bring them to commercial operation. He added that this is one of the first agreements of its kind for an Israeli company in Bulgaria, enabling the management of the facility and maximization of revenues through electricity and balancing markets.
Dan Naor, CEO of Tamanat Energy, expressed pride in the swift completion of the entire process, from acquisition and detailed planning to financial closing with a European bank, construction, grid connection, and commercial operation. He emphasized that this achievement reflects Tamanat's professional and execution capabilities and its experience in handling significant, complex projects on an exceptional timeline, solidifying its position as a major player in the European energy market.
Mentioned
