Hagag Europe and Airengy sign partnership to develop 5GWh compressed air energy storage project in Romania's salt caverns

Type: Partnership · Technology: Storage · Country: Romania · Capacity: 5 GWh · Value: EUR 55M · Announced: 2026-06-09

Hagag Europe and Airengy signed a cooperation agreement to develop a compressed air energy storage project in Romania's salt caverns, targeting a discharge capacity of 25MW and storage capacity of 5GWh. The project will be executed in two phases: Phase A involves constructing a 200MWh facility at an estimated cost of €4.5 million, while Phase B aims to expand capacity to 5GWh and 25MW at a cost of €50 million. Airengy will provide its proprietary AirBattery compressed air energy storage technology, with Hagag Europe securing usage rights for the salt caverns. The total investment for the project is estimated at €55 million, with development structured through a special purpose company owned by Hagag Europe, Airengy, and a third party. Tzachi Hagag, chairman of Hagag Europe, highlighted the project as a major development for Romania's energy market and a key step in the company's energy activities expansion. Yiftah Ron-Tal, chairman of Airengy, noted this as a pivotal moment transitioning the company from development to commercial-scale deployment of its technology.

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