Programme: Recovery and Resilience Plan

Belmondo Ltd. operates a newly built nine hundred forty-two point one kilowatt photovoltaic park in the area of the village of Muselievo, municipality of Nikopol. In connection with the problems of balancing the electricity system and the large fluctuations in electricity prices caused by the intermittent production of electricity from PV plants, the applicant has identified the need to build a local electricity storage facility (LESF) with an installed capacity of four hundred thirty kilowatts. The LESF will have an installed capacity of almost forty-five percent of the electricity generation capacity, with a useful capacity of two hours and will charge at least one hundred percent of the LESF storage capacity with the electricity from the directly connected PV farm.

Through the storage plant, the company will help reduce the electricity demand during peak hours of solar generation and provide additional electricity supply during the evening hours of the day when the power system is under higher pressure from the higher domestic demand.

The construction of the LESF will also improve the financial performance of the company, enabling the applicant to maximize its profits from electricity generation and obtain an optimal generation to sales price ratio. The installation of the LESF will not have a significant impact on the climate and the environment but will, on the contrary, be part of the overall effort to transition the Bulgarian economy to carbon neutrality.