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Bulgaria works on renewables portfolio expansion, plans offshore wind, floating solar

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OIL & GAS

Bulgaria works on renewables portfolio expansion, plans offshore wind, floating solar

Bulgaria intends to start pilot projects for floating solar power plants and geothermal power plants by the end of the year, but also to remove restrictions and simplify the procedures for the deployment of renewables, said deрuty Prime Minister and Minister of Environment and Water Borislav Sandov. - BalkanGreenEnergyNews

Bulgaria needs to accelerate the decarbonization process and investments in renewables to reduce emissions and transform its coal sector.

Sandov said the country would have to return BGN 13 billion (EUR 6.6 billion) secured under the National Resilience and Recovery Plan if emissions are not reduced by 40% by 2026. Bulgaria also won’t get BGN 2.5 billion (EUR 1.3 billion) from the European Union’s Just Transition Fund if its coal power sector is not transformed, he added at the RE-Source Southeast regional conference on renewable energy, local media reported.

Authorities are now trying to establish the regulatory framework which is clear, easy and fast

Minister of Environment and Water Borislav Sandov

Various financial mechanisms are available in the EU, such as REPowerEU, worth EUR 300 billion, operational programs Environment and Regional Development, the Modernization Fund, and Just Transition Fund, Sandov pointed out. They can be used to decarbonize the economy, he said in an interview for Investor.bg.

Sandov stressed the authorities are now trying to make the regulatory framework clear, easy and fast. As an example, he said the country intends to allow the installation of photovoltaic parks on water surfaces and irrigation canals to speed up the use of geothermal energy, and remove restrictions for the construction of wind farms.

Talks are underway with Romania on the construction of an offshore wind farm

Minister of Environment and Water Borislav Sandov

Bulgaria is negotiating with Romania on the construction of an offshore wind farm in the Black Sea, according to Sandov. The government is also in talks about the implementation of a new geothermal technology called Geothermal 2.0, in his words.

Sandov believes pilot projects for floating photovoltaics and geothermal energy could be started by the end of the year.

Of note, two weeks ago Bulgaria introduced a law that would eliminate the administrative procedure for households and firms to install renewables on buildings.

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