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Banks not ready to finance energy storage investments

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Many renewable energy project developers and end customers are attracted by the idea of investing in their own battery energy storage units, but lack the knowledge and understanding to make such investments in the right way, said Răzvan Copoiu, Deputy CEO of Enevo Group.

“In the last month alone we have had eight meetings with companies that want to invest in batteries. In general, the desire is high, but what we are seeing is that many see this as a money-making opportunity. The view needs to be a bit different,” he said at the conference “Battery Energy Storage Systems – BESS Romania”, organised by Energynomics.

 

This field is still new in Romania, which is why there is not yet a clear funding model, making banks reluctant to provide the necessary financing. Moreover, the electricity grid is not yet ready for such developments.

“As it is now, we only see a fizz that does not yet reflect reality from an applicability perspective. Aspects such as the drop in efficiency if the temperature of the batteries rises above 50 degrees, but also how they will be recycled, need to be taken into account. We will integrate batteries, that is clear, but it is necessary for the authorities to develop an integrated plan to solve all the problems. We believe in this sector and we will invest, but we need support,” Răzvan Copoiu added.

The conference “Battery Energy Storage Systems – BESS Romania” was organised by Energynomics with the support of our partners: Alive Capital, Elektra Renewable Support, Enevo Group, Ensys, Enexus, OX2, EVOLVE Energy Management Solutions, EVOLVE Energy Management Solutions, SIM Connect, SolaX Power, Think Blu Solution, WEBUS 4 ENERGY, Wiren.

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