Kolmobil and Temenet Launch 60 Million Euro Energy Storage Facility in Bulgaria

Kolmobil Energy and Temenet have launched a major energy storage facility in Silistra, near the border with Romania. The facility features a storage capacity of 317 megawatt-hours and a capacity of 150 kilowatts, utilizing batteries from the Chinese manufacturer BYD. The investment in the project totals approximately 60 million euros, according to company reports, and was partially financed by the Bulgarian bank DSK.

Project Financing and Structure

In addition to bank financing, the project qualified for an 8 million euro grant from the European Union, securing land usage rights for 49 years. Kolmobil Energy, controlled by the Harlap family with a 60% stake, builds upon Enerpoint, the renewable energy company acquired by Kolmobil in 2022. Temenet, controlled by Maj. Gen. (ret.) Israel Ziv, holds a broader European footprint with renewable initiatives across Romania, Serbia, Bulgaria, and Germany.

"We estimate that electricity prices in Eastern Europe will stabilize, which is why time to market is crucial. Those who manage to outpace the market will be able to recover their investment." — Aviv Pfeffer, CEO of Kolmobil Energy

Market Strategy and Future Growth

The facility relies on purchasing excess electricity from Bulgaria and Romania at low prices during off-peak hours and selling it during peak demand periods, alongside grid balancing services. According to Kolmobil data, peak electricity prices are up to four times higher than off-peak rates, enabling an estimated return on investment within roughly three years. Looking ahead, Kolmobil Energy plans further expansion in Eastern Europe, focusing on solar power, energy storage, natural gas-powered peaking plants, and data centers.