Three-site BESS portfolio · 15 MW / 30 MWh per site · Balancing + Selective Arbitrage
Our battery energy storage systems are strategically positioned near Romania's borders with Hungary and Ukraine — the country's largest energy imbalance zones. A significant portion of electricity delivered to Ukraine flows through this corridor, while substantial power imports arrive from Hungary via the western interconnection.
This geographic concentration creates frequent grid oscillations and large frequency deviations, driving high imbalance prices. The scarcity of local balancing resources in these border zones further amplifies market opportunities, making our BESS installations critical infrastructure for grid stability.
Beyond asset ownership, Battery.Network delivers comprehensive energy trading services through our proprietary platform. We offer:
Our software continuously monitors real-time data — meteorological forecasts, import/export flows, renewable generation curves — to anticipate grid stress events. This allows us to position batteries proactively: charging during surplus periods, discharging during deficits, or holding capacity for high-value reserve payments.
When you invest in Battery.Network, you gain access to both premium infrastructure assets and our advanced trading know-how. We don't just deploy batteries — we maximize their revenue potential through intelligent, data-driven operations that capture value across multiple market segments simultaneously.
Battery.Network proposes developing a portfolio of three battery energy storage system (BESS) projects, each with 15 MW power capacity and 30 MWh energy storage (two-hour duration). These facilities will be strategically located near Romania's borders with Ukraine and Hungary, within existing substations, to capitalize on areas where cross-border flows frequently create local imbalances. The projects target the balancing-services market and energy-arbitrage opportunities, backed by an experienced team and strong industry partnerships.
Key elements of our vision:
Overall, Battery.Network's vision is to capture the current window of opportunity in Romania's power market—at the intersection of explosive renewable growth, acute flexibility needs, and storage-friendly regulatory reforms. The detailed business plan shows how the proposed portfolio meets this opportunity by combining cutting-edge technology with smart market strategy and an experienced execution team, offering investors an optimal balance of profitability and positive system impact.
Romania's power market is undergoing structural change, creating a favorable context for battery storage projects. Local imbalances and market volatility have increased with the rapid integration of renewables and dynamic cross-border exchanges, underscoring the need for flexible solutions like BESS.
The generation mix is shifting—wind and solar are gaining share, lowering costs and emissions but introducing high variability. Forecasting production/consumption is harder to calibrate, and deviations cause instantaneous imbalances. The TSO (Transelectrica) has reported episodes where system balance was hard to maintain: for example, in July 2024, Balancing Market prices briefly reached a record ~16,000 RON/MWh—an extreme signal of stress. This European-record peak highlighted a shortage of balancing resources (few actors able to react quickly) and the massive cost of imbalances. Today, balancing is served almost exclusively by a few large generators (e.g., hydro, gas, coal) which, absent competition, command high regulation tariffs. This is a clear opening for batteries: BESS can enter as new, agile players, increasing competition and stabilizing prices while monetizing these price spikes.
Cross-border flows also shape domestic dynamics. Romania is interconnected with neighbors (Hungary, Serbia, Bulgaria, Ukraine, Moldova), facilitating imports/exports. At border areas, oscillating power flows (e.g., cheap night-time imports or large exports when Dobrogea winds surge) can cause congestion and local frequency variations. Ukraine's special situation is notable—after emergency synchronization with Continental Europe, flows to/from Ukraine can be unpredictable due to unstable system conditions. Northern and eastern Romania, linked to the Ukrainian system, periodically face disturbances needing rapid compensation. Similarly, on the western border with Hungary, high interconnection capacities (thousands of MW) can create regional imbalances—sudden transit swings can leave surpluses or deficits in Romania's cross-border nodes. By siting batteries in these locations, our project targets the grid's hot spots, where local flexibility is extremely valuable: BESS will absorb surplus when imports/RES are excessive and deliver energy within seconds when unexpected deficits arise.
Beyond the physical context, balancing and system-services market design is evolving in favor of storage. ANRE operates and refines aFRR (Automated Frequency Restoration Reserve) and mFRR (Manual Frequency Restoration Reserve) markets, which allow capacity and energy offers for regulation—batteries, with very fast response, are ideal participants. While FCR (Frequency Containment Reserve, primary reserve) remains inadequately remunerated in Romania, reforms are expected to open this segment, where batteries excel (<1-second response). Past regulatory gaps—e.g., unclear licensing or double-charging of stored energy—have begun to close. In 2025, Romania adopted rules exempting reinjected battery energy from network tariffs and green levies, aligning with EU standards. This change significantly cuts BESS operating costs, boosting investment profitability.
Romania is also strategically committed to storage. Under the NECP and PNRR, Romania aims for at least 1,200 MW of storage by 2030. In 2024–2025, support schemes launched (PNRR grants for ~2.5 GWh of batteries). As a result, the BESS pipeline has surged: from ~100 MW installed (mostly pilots) in early 2024 to over 240 MW operational by mid-2025, with permits pending for individual projects in the hundreds of MW (largest planned ~200 MW/400 MWh). This trend confirms investor confidence. An emerging market also means that early merchant projects can enjoy above-average returns—before competition intensifies and any caps/regulatory curbs temper balancing-price profitability. Timing is essential: early investors in Romanian BESS can capture generous gains from current volatility.
Opportunity conclusion: The proposed battery portfolio sits at the intersection of these favorable factors. By positioning at key grid nodes and focusing on balancing markets, our projects directly monetize local imbalances and balancing dynamics, delivering a technological solution to an acute system problem. At the same time, they benefit from positive regulatory trends (lower costs, clear operating framework) and national/EU support for storage. For investors, this translates into financing essential infrastructure with high, predictable revenue flows and a pioneering role in a rapidly expanding market.
Each of the three BESS projects will use state-of-the-art electrochemical storage technology in a standardized configuration optimized for performance and safety. The system architecture is modular to enable rapid deployment and life-cycle maintainability.
Main configuration and technical parameters:
Components and modular design:
Battery.Network's commercial strategy diversifies revenue by participating simultaneously in multiple power markets, maximizing BESS asset utilization while reducing reliance on any single market. The model combines balancing-services revenues (stable, predictable) with energy-arbitrage gains (volatile but potentially large), in a dynamic approach updated daily to market conditions.
Balancing Market – primary revenue source: System services underpin the project economics. Romania operates aFRR and mFRR markets where batteries can offer regulation capacity and activation energy. Prices have been volatile: in 2024, average aFRR fees were ~150–300 RON/MWh, with spikes above 1,000 RON/MWh in critical periods. For context: while DAM baseload trades ~300–500 RON/MWh, regulation commands significant premia due to its system value.
Batteries' advantage stems from ultra-fast response and capability to provide both positive energy (injection during deficit) and negative energy (absorption during surplus). Conventional plants face start-up times, fuel costs, or cannot "consume" excess energy; batteries are ambidextrous—switching instantly and ideal for renewable variability.
Spot-market arbitrage: The second revenue stream buys cheap energy in surplus periods and resells it during price peaks. Romania's load profile (morning/evening peaks) and renewable variability (excess on windy/sunny days, deficits otherwise) drive meaningful spreads.
Typical example: On most days, DAM prices range from ~200 RON/MWh at night (low load, baseload units running) to ~600–800 RON/MWh at evening peak (expensive peakers online). A BESS can buy at the night minimum, store, and sell at the evening maximum, capturing ~300–500 RON/MWh spreads. With 30 MWh capacity and one cycle/day, gross arbitrage revenue is ~9,000–15,000 RON/day per system, i.e., ~270,000–450,000 RON/month. Not every day is favorable, but Romania's transitioning mix makes opportunities frequent.
On the IDM, where forecast errors are corrected and residual volumes trade, prices can be even more volatile than on DAM. Renewable forecast misses create urgent rebalancing needs; batteries' flexibility can capitalize on these moves.
Portfolio optimization and risk management: Success hinges on dynamic allocation between markets. An advanced EMS continuously analyzes:
Based on these inputs, the EMS selects the hourly-optimal strategy: reserve capacity for balancing (safer revenue, possibly lower) or dedicate to arbitrage (higher risk, higher potential). This hybrid approach reduces dependence on any single revenue source and enables rapid adaptation to market shifts.
Trading partnership and commercial execution: Execution is backed by a seasoned energy trader with ~€40 million annual turnover, providing:
This collaboration lets Battery.Network focus on technical and operational excellence while the trading partner maximizes commercial performance—a natural division of responsibilities.
Growth outlook and scalability: The model is designed to scale. Once the first 3-system portfolio demonstrates performance, Battery.Network will replicate the concept at other strategic Romanian locations, targeting:
Longer-term, the company aims to become a regional storage player, exporting know-how to neighboring countries (Serbia, Bulgaria, Hungary) as their BESS markets mature.
The operational strategy maximizes each BESS along two axes: (1) balancing services (aFRR/mFRR) as a relatively stable revenue layer and (2) spot arbitrage (DAM + IDM) to capture daily spreads. The EMS runs a dynamic allocation algorithm that re-evaluates hourly (and intra-hour when needed) the marginal value of reserving 1 MW for regulation versus running an arbitrage cycle, based on: activation probability, forecast prices, current SOC, cheap-charging windows, and degradation constraints.
Result: commercially optimal utilization without compromising battery longevity, with a portfolio able to immediately adjust to regulatory or price-structure changes.
Project success relies on a multidisciplinary team with experience in energy project development, systems engineering, financial management, and commercial operations. The team's diverse skill set and proven track record ensure rigorous execution and long-term performance.
Leadership and strategic vision: Management includes professionals with 15+ years in Romanian and international energy. We develop renewables and managed over million in energy-asset investments, covering the full project life cycle. This expertise is essential for BESS, where technical and regulatory complexity determines outcomes.
Technical competencies and engineering: The technical team includes power-systems, electrical, and automation engineers with prior renewable-integration experience, handling TSO interconnection challenges. Experience in storage projects (Romania and abroad) informs optimal BESS architecture, equipment selection, and control integration. The team maintains technical partnerships with leading battery vendors (e.g., CATL, BYD, Tesla) and inverter suppliers (e.g., SMA, Sungrow) for top-tier technology and support.
Commercial and trading competence: The commercial dimension is covered by a trading partner with ~€15 million annual turnover, managing a diversified portfolio of generation and load. The partner brings:
Financial management and development: The team includes project-finance experts experienced in raising capital for large energy investments, including non-recourse financings in the hundreds of millions. For Battery.Network, this means structuring optimal financing (equity, bank debt, potential EU support) and presenting investors with a solid, transparent case. The finance team manages budgeting, cash-flow, lender/investor reporting, and tax/regulatory compliance.
External resources and specialized advisors: Battery.Network works with top advisors and service providers:
Culture and long-term objectives: A culture of innovation, performance, and social responsibility. Goals go beyond short-term profit to supporting Romania's energy transition and building a sustainable company:
Battery.Network's model uses conservative projections and sensitivity analysis (P90 / P50 / P10) across market scenarios, consolidated to avoid duplication and present a unified picture.
Investment structure (CAPEX): ~€9 million per system (15 MW / 30 MWh), including batteries & BMS (~50%), power conversion/inverters (~20%), civil works & containers (~15%), grid connection & electrical gear (transformers, MV/LV switchgear, protections) (~10%), development/permitting/management (~5%), plus contingencies & financing costs. Total portfolio: ~€27 million for three sites (scale effects & bundled procurement).
Target capital structure: 30–40% equity / 60–70% debt (with possible 50–60% leverage initially to optimize DSCR). Long-term non-recourse debt supported by predictable balancing revenues plus partially hedged arbitrage.
Annual OPEX per system: ~€170–200k: scheduled O&M & consumables (~€100k), trading & operations allocation (~€50k), insurance & auxiliaries (~€20k), degradation/augmentation provision (2–3% CAPEX equivalent). Operational efficiency → EBITDA margin >80–85%.
Base operational parameters: ~300 equivalent cycles/year; 60–75% of hours allocated to balancing; 5,000–6,000 MWh/year of regulation-energy activations (per system) in the central case.
Revenues (P50 – consolidated estimates):
Total gross revenue P50: ~€1.0–1.3 M per system / €3.0–3.9 M portfolio. Convergence with RON estimates (12–20 M RON/system) confirms robustness.
Key indicators (P50): EBITDA ~€1.0–1.1 M per system; unlevered IRR 14–18%; levered IRR >18–22% (higher early-years volatility); unlevered payback ~3.7 years (with €9 M CAPEX and €2.46 M annual net profit); DSCR 1.4–1.6×; positive NPV (15–25% above invested equity at 8% discount rate).
Main sensitivities: (1) Arbitrage spread compression −10% → IRR −1–1.5 pp; (2) Regulation energy price −25% → IRR −3–4 pp; (3) COD delay 6 months → NPV −6–8%; (4) Battery degradation +10% vs model → earlier augmentation (IRR impact −0.5–0.8 pp). Buffers: 5–10% CAPEX contingency, 6–9 months debt-service liquidity reserve, planned augmentation fund in year 7.
2024 vs 2025 vs 2026: 2024 = extreme volatility but evolving fiscal/regulatory regime; 2025 = clarified framework (no double-charging) + recurring moderate spreads (arbitrage uplift ~+20% vs 2024); 2026–2028 = gradual BESS entry (potential margin erosion 5–10%) partly offset by higher absolute imbalance volumes and possible capacity/availability mechanisms.
Financial mitigation: Hybrid strategy (balancing hedge + opportunistic arbitrage), partial contractualization options (system-service contracts), augmentation reserve; stress scenarios with −40% regulation price still keep IRR >10% (P90).
Delivery of the 3 × 15 MW / 30 MWh portfolio spans ~18–20 months to full COD, with partially parallel phases to pull forward first-asset revenues. Schedule can be fast-tracked by 2–3 months via early orders of critical equipment (batteries, inverters) after signing key commercial terms.
| Phase | Months | Key Deliverables | 
|---|---|---|
| 1. Development & Permitting | 0–6 | ATR, grid studies, land/substation due diligence, draft PPA / trading agreement, financing term sheet | 
| 2. Engineering & Procurement | 4–10 | Detailed design, EPC selection, battery & inverter orders, SCADA/EMS design | 
| 3. Civil & Electrical Works | 8–14 | Container pads, MV/LV cabling, transformer installation, switchgear, security infrastructure | 
| 4. BESS Installation & Integration | 12–16 | Battery containers, inverters, BMS commissioning, local functional tests | 
| 5. System Commissioning & Tests | 15–18 | Cold/hot tests, SCADA integration with TSO, regulation tests, compliance certification | 
| 6. Commercial Ramp-Up | 18–20 | Pilot optimization of EMS, transition to nominal operation | 
Risk management: (a) 10–12% time buffer on critical activities; (b) LD clauses in EPC contract; (c) independent technical audits at 30%/70% progress; (d) CAR + Delay-in-Start-Up insurance; (e) financial reserve for component cost escalation (5–7%).
Project governance: monthly committee (technical/financial/commercial), KPI dashboard (actual vs budget cost, % physical progress, aggregate risk, operational readiness). FID after ATR confirmation + financing term sheet + firm equipment offers.
Technical risks:
Financial risks:
Regulatory risks:
Market risks:
Battery.Network targets financial performance and positive systemic and socio-economic impact, integrating ESG indicators.
Battery.Network is a compelling investment at the intersection of cutting-edge technology, a rapidly expanding market, and a critical system need in Romania. The three-system BESS portfolio, strategically placed at key grid nodes, will capitalize on growing power-market volatility and acute flexibility needs.
Distinctive elements—team experience, an established trading partnership, strategic geography, and optimal market timing—create a rare combination of competitive advantages. Conservative projections indicate attractive returns with intelligently managed risks, while the positive impact on the power system and sustainability goals offers investors the chance to contribute to Romania's energy transition.
For Romania, the project is a step toward a more stable, cleaner, and more independent energy future. For investors, Battery.Network provides access to a fast-growing asset class in an emerging market with solid fundamentals and institutional support.
The time to invest in energy storage in Romania is now. Battery.Network is ready to turn this vision into reality.
The team combines experience in renewable development (>500 MW), project finance (>€800 M structured), grid operations, and energy trading. The structure enables multi-site scaling at low marginal cost.
          Investor & partnerships contact:
          Email: office@ebattery.network
          Website: ebattery.energy
          Tel: +40 748 132 007
        
Additional details and extended presentation available on request (incl. granular financial model and stress scenarios).
This business plan contains forward-looking statements subject to risks and uncertainties. Actual results may differ materially from projections. This document does not constitute an offer to sell securities.