Euroheat and Power signs first EU tripartite agreement on energy storage

BRUSSELS, Belgium, 26 June 2026: Euroheat and Power (EHP) said it signed the first EU Tripartite Agreement on Energy Storage on the sidelines of the European Energy Council, joining the European Commission, member states, industry and financial institutions.

Making the announcement through a June 26 Press Release, EHP said the agreement recognises thermal energy storage as a cornerstone of a more resilient, efficient and affordable energy system, storing excess renewable electricity to supply renewable heat to households and businesses while reducing curtailments and energy price volatility.

EHP said the roll-out of thermal storage in District Heating is gathering pace alongside electrification, with installed capacity reaching 287 GWh in 2024, a 61% increase since 2019. EHP added that thermal storage capacity in Europe must increase by 2,000% by 2050 to reach the EU’s climate and security of supply goals.

EHP said the agreement aims to strengthen collaboration between governments, financing institutions and industries, and deliver conditions for storage investments. EHP added that working areas include improved access to finance and faster state aid approvals, as well as time-of-use network tariffs with a market framework that rewards flexibility.

EHP said the agreement also aims to replicate best practices from pioneering thermal storage projects, including Newheat’s Narboflex project, the first District Heating system operating in flexibility markets in France, and Karno’s Kuebebierg project, Europe’s largest thermal storage project supplying 8,000 citizens with locally sourced heat.

Aurélie Beauvais, Managing Director, Euroheat and Power, said: “Thermal storage is a highly cost-effective flexibility solution, made in Europe, and the only sustainable long-term storage technology already deployed at scale. Accelerating the roll-out of projects means putting an end to the waste of valuable renewable energy sources and reducing energy prices for consumers and industries that need it most. We look forward to working with our members and all parties involved, to develop better frameworks for project financing and implementation.”