Energy Storage News•15 days ago
Raffeisen pension fund joins EBRD, EU on large-scale Croatia BESS and VPP investment
Key Takeaway
This investment underscores the growing financial viability and institutional backing for large-scale battery storage and virtual power plant projects, particularly in regions supported by EU initiatives.
AI Summary
- •A €16 million (US$18.5 million) project in Croatia will combine large-scale Battery Energy Storage Systems (BESS) with a Virtual Power Plant (VPP).
- •The investment is backed by a diverse consortium including a Raffeisen pension fund, the European Bank for Reconstruction and Development (EBRD), and the EU Modernisation Fund, signaling strong institutional confidence in hybrid energy solutions.
- •This project highlights the increasing financial viability and market maturity for grid-scale battery storage and VPPs, offering developers a model for securing diverse funding.
- •The involvement of the EU Modernisation Fund underscores significant policy support and financial incentives for advanced energy infrastructure in the European market, which can de-risk similar projects for developers.
- •For large power consumers, the deployment of BESS and VPPs can lead to improved grid stability, better energy management options, and potentially more competitive energy pricing through optimized resource dispatch.
Topics
storagefinancingpolicytransmissioncapacity-market