The EBRD has been working with Bulgaria's Ministry of Energy since 2023 on the design of grant schemes and competitive auctions under the country's Recovery and Resilience Plan (RRP), and on technical verification of completed projects. With that work now complete, the bank says the schemes have transformed Bulgaria's renewables market, speeding up utility-scale battery storage in particular and making the country a European storage leader relative to its size.
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More batteries on the agenda
During a visit to the country, Mark Bowman, EBRD Vice President for Policy and Partnerships, discussed further battery storage projects with government representatives and clients. His visit included the inauguration of the Tenevo hybrid park in south-eastern Bulgaria, which pairs 242 MW of PV with 311 MW/773 MWh of batteries and was co-financed by the EBRD and Raiffeisen Bank International with support from an InvestEU guarantee. According to the bank, additional storage will strengthen grid resilience, ease constraints on renewable generation and help integrate more renewable power into Bulgaria's electricity system.
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Groundwork for infrastructure partnerships
The EBRD and the Bulgarian government also signed a memorandum of understanding laying the foundations for the Bulgarian Public-Private Partnership (PPP) Preparation Facility. This will help develop PPPs and concessions and mobilise private capital, initially in transport, energy, irrigation and industrial zones. “The successful completion of the Recovery and Resilience Plan energy milestones demonstrates what can be achieved when ambitious reforms are matched by strong implementation,” said Bowman. The EBRD has invested almost €5.3 billion in Bulgaria through 330 projects, much of it in private sector development and the green economy. (TF)
