„TIMEX Ltd. is a beneficiary under the Administrative Contract for the provision of grant No BG16RFPR001-2.004-0193-C01 “Improvement of the energy efficiency of TIMEX Ltd.„ of 18.03.2026 under the Programme „Competitiveness and Innovation in Enterprises“ 2021-2027, selection procedure No BG16RFPR001-2.004 “Energy efficiency and use of energy from renewable sources in enterprises„.

The total eligible costs of the project amount to EUR 105 434,93, of which the approved maximum grant amount is EUR 51 125,40 (48,49 % of the eligible costs), of which EUR 43 456,59 represents European Union funding.

The project implementation period is from 18.03.2026 to 18.03.2027.

The main objective of the project is to improve the energy efficiency of TIMEX Ltd. by investing in an energy storage system - batteries in combination with inverters with a capacity of 160 kW, which will be connected to a photovoltaic power plant for self-consumption with an output power of 150 kW, currently available. This will provide storage of the clean energy produced, covering a significant part of the company's energy needs, especially at times of high consumption or in the absence of sun.

The assets envisaged for purchase will provide electricity for own consumption - power supply for machinery and equipment, air conditioning, ventilation and lighting, i.e. for the main economic activity of the enterprise - code 46.62 „Wholesale trade of machine tools and machine parts“, according to Art. KID-2008.

With the construction of a battery energy storage system, TIMEX Ltd. will optimize its energy consumption, reduce the cost of the offered assortment and increase the share of used RES in its energy mix.

Receiving support under the procedure and making the investment will have a direct effect on the financial stability of the enterprise, will support its resilience to energy and market crises and will contribute to the achievement of national and European green transition and climate neutrality objectives.

The project proposal leads to the achievement of the objective of the procedure - to support Bulgarian enterprises in improving energy efficiency and promoting the use of renewable sources, accelerating the transition towards climate neutrality.

The project complies: with the horizontal principles set out in Article 9 of Regulation (EU) 2021/1060 of the European Parliament and of the Council and with the principle of „no significant harm“.

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„This publication has been produced with the financial support of the Competitiveness and Innovation in Enterprise Programme 2021-2027, co-financed by the European Union through the European Regional Development Fund. The entire responsibility for the content of this publication lies with TIMEX Ltd and under no circumstances can it be assumed that this publication reflects the official opinion of the European Union and the Managing Authority.„