Solar Inverter project financing options in Bulgaria 2030

What is the Integrated Energy & Climate Plan of Bulgaria 2021 – 2030?

The Integrated Energy and Climate Plan of Bulgaria 2021 – 2030 (the ‘Integrated Plan’) envisions adding 2,600 megawatts of renewable capacity by 2030. In 2023, ESO confirmed applications for renewable energy sources (‘RES’) projects totalling 40,000 megawatts. They anticipate adding 5,000 megawatts by 2031.

How much renewable capacity will Bulgaria have by 2030?

Depending on the various sources of information (official or commercial), Bulgaria is envisaging at least 2 645 megawatts peak renewable capacity increase by 2030 (2,174 megawatts solar and 249 megawatts wind).

How many solar projects are there in Bulgaria?

Currently, Bulgaria operates over 800 megawatts of wind projects Bulgaria has an annual average of 2,100 hours of solar irradiation. As of 2023 over 1,700 megawatts project are operational in Bulgaria and it is growing substantially. Geothermal energy is gaining attention, with legislative proposals to harness Bulgaria's geothermal potential.

How can Bulgaria achieve net-zero emissions?

To achieve net-zero emissions, renewables must replace thermal power plants, which contributed 45% of electricity production in 2022. Bulgaria exported 11,639 gigawatt hours but imported 1,154 gigawatt hours of electricity in 2022.

Will EBRD use InvestEU guarantee in Bulgaria?

This is the first use of the InvestEU guarantee by the EBRD in Bulgaria. The Tenevo plant will add 238 MW of solar generation capacity to the Bulgarian national energy system, with a long-term plan to add on a 250MW capacity of behind-the-meter energy storage.

Is the EBRD a major investor in Bulgaria?

The EBRD, a leader in climate finance, is a major institutional investor in Bulgaria. To date it has financed 297 projects in the country for over €4.5 billion.