Swiss renewable energy group Axpo, active in 30 markets worldwide and owned by cantons of Switzerland and cantonal utilities, applied for a permit to develop up to the "ready to build" stage more power storage plants in Romania with a combined delivery capacity of 300MW, Economica.net announced quoting a decision of the local subsidiary.

The shareholders estimate that the energy storage projects with batteries will need a budget of around EUR 25 million.

The electricity storage facilities with batteries will be located in the territory of Romania and will be developed mainly between 2024 and 2029, according to the shareholders' plan.

At this moment, Axpo reached the stage of requiring a permit for its project from the Commission for the Examination of Foreign Direct Investments (CEISD), subordinate to the Romanian Government, which analyses the intentions of foreign direct investors planning projects over EUR 2 million.

The Axpo Group wants to have in Romania at the "ready to build" stage electricity storage facilities with batteries, with a total installed delivery capacity estimated at around 300 MW, independent or integrated within some electricity production capacities, according to a decision of the local subsidiary, consulted by Economica.net.

Axpo Energy Romania has not decided yet on how to further develop the projects: directly, by setting up separate entities dedicated to these projects, or by buying the entities that develop these projects. However, Axpo seeks to hold in its portfolio the power storage plants developed in Romania.

iulian@romania-insider.com

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