What is the story about?
What's Happening?
International Power Supply (IPS) has inaugurated Factory X1, Bulgaria's first battery gigafactory, with a production capacity of 3 GWh per year. Located in Sofia, the facility is part of the Hemus high-tech industrial park and will manufacture X-BESS modular systems. The project, recognized by the European Commission as strategic for a net-zero industry, aims to connect renewable energy producers and consumers through a virtual network of battery storage systems. IPS plans to increase the factory's capacity to 5 GWh by next year, with over 70% of the supply chain based in Europe.
Why It's Important?
The opening of Factory X1 marks a significant step in Bulgaria's renewable energy sector, enhancing the country's capacity for battery energy storage systems. By establishing a European-based supply chain, IPS contributes to the continent's energy independence and technological advancement. The gigafactory supports the EU's goals for a net-zero industry, potentially attracting further investment and innovation in the region. The project also aligns with global efforts to transition to clean energy, offering scalable solutions for energy storage.
What's Next?
IPS is planning another manufacturing project worth EUR 160 million, seeking EU financial support. The new facility, with a capacity of 10 GWh, could be located near Bulgaria's coal regions, potentially revitalizing these areas. IPS's technology is also set to be used in a 10 GWh manufacturing facility in Poland, indicating the company's expansion into international markets.
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