The annual IMPACT Awards 2022, organised by the international publication, recognised the battery park system project, which will enhance Lithuania’s energy security, for its significance for Lithuania’s energy independence and for its success in attracting sustainable finance for the project. The award jury was impressed by the fact that the project implemented by Energy Cells is helping to address the important challenges of energy storage and instantaneous energy reserve not only in the country but also in the region.

“The energy storage system project is needed to synchronise with the with continental European electricity networks and will contribute to Lithuania’s ambitious renewable energy goals. The battery parks will serve as a flexible solution for the energy system, capable of storing and, if necessary, instantly feeding into the network electricity generated by solar or wind power plants. So this project is not only about innovation and sustainable financing, but also about contributing to climate change goals”, says Rimvydas Štilinis, CEO of Energy Cells.

Energy Cells has been granted EUR 87.6 million to install the energy storage facility system under the “NextGenerationEU” plan of the EU’s economic recovery measure “Next Generation Lithuania”. Part of the energy battery park project is also financed by Energy Cells’ shareholder EPSO-G, which raised funds through sustainability-linked bonds.

The battery storage system, which will provide Lithuania with an instant energy reserve, will consist of four battery parks in Vilnius, Šiauliai, Alytus and Utena, with 312 battery cubes – 78 in each. The total power and capacity of the system of energy storage facilities implemented by Energy Cells and connected to the Lithuanian energy network will be 200 megawatts (MW) and 200 megawatt-hours (MWh).