site.btaEnergy Storage Is Key to Europe’s Energy Future, Says MEP Tsvetelina Penkova

The topic of energy storage is crucial for Europe’s energy future, said MEP Tsvetelina Penkova (Bulgarian Socialist Party) on Wednesday during the first edition of the conference “ENERGATE: The New Energy Reality,” organized by Darik Radio & Digital. The event brought together here leading experts, politicians, investors, and representatives of the energy sector to discuss the role of energy storage systems in transforming the energy industry.

According to Penkova, the European legislation adopted in 2024–2025 provides relatively stable clarity for investors regarding the prioritization of storage systems. 

Miglena Stoilova, CEO of PPC Bulgaria, emphasized during the forum that over the past three years in the region - Bulgaria, Romania, and Greece - it has been evident that during the sunnier months, energy production from renewable energy sources (RES) exceeds 50% of total generation. She believes that batteries will play a significant role in ensuring this country’s independence from both economic and geopolitical perspectives.

“The sector has gone through a dynamic 3–4 years. There are different assumptions about what will happen, but we expect progress next year regarding investments in batteries,” she noted.

Martin Georgiev, Chief Operating Officer of Electrohold Trade, pointed out that over the last 10 years, 600,000 MW of wind and solar renewable capacity have been installed in Europe. “Against these 600,000 MW, less than 30,000 MW of storage systems have been installed. At the same time, conventional power sources that have been used for years to balance the grids are being phased out,” he said. According to him, the imbalance is clear, and there is a strong need for batteries.