Electrica announces the signing of the agreement to access a non-refundable European financing in the amount of approximately 3.4 million euros through the National Recovery and Resilience Plan (PNRR). The funds will be used for the development of an electricity storage project in the town of Fântânele, Mureș county. The total value of the project is estimated at 21.8 million euros, of which non-reimbursable financing represents approximately 20%.

The initiative, with the name “Construction of electricity storage capacity, related facilities, transformer substations and the transformer station, internal electrical networks, fencing, branches, external connections to the SEN and access roads”, aims at the development of energy storage units electric based on battery technology, with a total capacity of 69.93 MWh.

“We are happy to be among the beneficiaries of PNRR funds on this pillar, a much needed incentive in the context of the accelerated energy transition. This achievement represents an important step in achieving our strategic goal of accessing as many grant funds as possible for investment. The energy storage technology in batteries offers multiple benefits, from the flexibility and stability of the network, necessary for the integration of renewable energy sources, to the reduction of costs and the protection of critical infrastructure,” says Alexandru Chiriță, Electrica CEO.

This is the second project through which Electrica accesses funds from PNRR, after, in October 2023, it obtained financing for the Satu Mare 2 photovoltaic project, developed by its subsidiary, Sunwind Energy. With an installed capacity of approximately 27 MWp, the project is scheduled to be completed by the end of this year.

Electrica also announces the takeover of 20% of the share capital of Crucea Power Park S.R.L., thus consolidating its stake to 60%. The wind farm, with an installed capacity of 132 MWp, is in the phase of obtaining authorizations and will integrate an electricity storage component.