The Baltics is among the most attractive regions in Europe for battery energy storage system (BESS) investment right now, with the recent decoupling from Russia and increasing renewable energy use sending flexibility needs soaring.
Ignitis Group and Olana Energy have progressed BESS projects in Lithuania closer to construction, with the order of equipment and final investment decision (FID) taken, respectively.
The Ministers of Energy and the Environment in Lithuania have approved an additional €37 million (US$43 million) for an energy storage capex grant scheme, while Trina Storage has secured orders in the country.
A double-header of large-scale BESS project sales in the Baltic region, with Aura Power selling to UAB Karjerų linija and Danish Sun Energy selling a co-located one to Sunotec.
IPP E energija Group has started building what it claims is the largest ‘private’ BESS project in Lithuania, a few weeks after the Baltic region decoupled from Russia’s electricity grid.
Battery storage played a crucial role in the Baltic region’s switch from Russia over to the Continental European grid over the weekend, coinciding with Lithuania launching a €100 million storage support scheme.