Romanian utility group Electrica (BVB: EL), with the state as the main shareholder (49.8%), announced it would develop a 70MWh storage capacity in the central part of the country at Fantanele, Mures County.

The project involves EUR 22 million of investments (VAT excluded), of which EUR 3.4 million will be obtained as a grant under the Resilience Facility.

This is an important project given that the Romanian energy system is facing ever-increasing imbalances, which are expected to grow even more with the installation of new renewable energy capacities.

"The main emergency of the national energy system is storage," said the minister of energy, Sebastian Burduja, in April.

This is the second project through which Electrica accesses funds through PNRR, after in October 2023, it obtained financing for the Satu-Mare 2 photovoltaic project (developed by its subsidiary Sunwind Energy SRL), with an installed capacity of approximately 27 MWp, a project which is planned to be completed this year.