EBRD to support Bulgaria’s energy sector and viability of its energy market

EBRD energy sector
Aug. 08, 2022
Аt its meeting on 28.07.2022 the Council of Ministers of the Republic of Bulgaria decided on signing of agreements between the Ministry of Energy and the European Bank for Reconstruction and Development (EBRD) regarding the implementation of two projects funded under the country’s Recovery and Resilience Plan. This concerns the “Support for new renewable power generation capacities and electricity storage“ and “National renewable electricity storage infrastructure (RESTORE)“ projects included in the plan’s “Low-carbon economy” component.
The signing of both agreements with EBRD will provide the Ministry of Energy with an opportunity to receive a qualified technical assistance in the implementation of both investments:
  • for the construction of 1 425 MW RES capacities together with accompanying energy storage infrastructure with 350 MW capacity;
  • for purchase, installation and the commissioning of the energy storage facilities with total energy charging capacity of 6000 MW.
The parties have mutually agreed on the agreements signing under the Memorandum of understanding (MoU) concluded between the Council of Ministers of the Republic of Bulgaria and the European Bank for Reconstruction and Development (EBRD) on support for the implementation of projects financed by European Union (EU) funds from 2021 to 2027, including the Recovery and Resilience Plan. The technical services provided by EBRD shall be funded within the Recovery and Resilience Facility allocation granted to Republic of Bulgaria.
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