We have all heard about renewable energy and its growing importance for the future of humanity. In the light of European directives and individual development plans for each country, the production of energy from renewable sources is becoming increasingly important. The set framework of the European Union envisages 82% of the electricity produced in the member states by 2050 to be the so-called Green Energy.

Over the next five years, the Sustainability and Development Plan, revised by the Government, envisions building a huge solar capacity - about 1.7GW, including batteries for storing electricity.GW, плюс батерии за съхранение на електроенергия.

Funds amounting to approximately BGN 878 million are planned to finance projects for renewable power plants with batteries included. The first of six auctions will be held in early 2022. Each of them will have Renewable energy sources (RES) projects with a capacity of at least 285MW. In order to avoid the participation of large investors only, about 70MW or 25% of the total budget is allocated to small RES projects with a capacity of less than 5MW. A single candidate will win the remaining 75% of the budget (about 215MW), which means concentrating the funds in one huge plant, in a specific region of the country. Each of the candidates must envisage the construction of a separate facility for storage of the produced electricity, with a capacity of at least 25% of the total capacity and with a duration of at least 4 hours. These auctions will be held every 6 months.

European funding available for Solar Power Plants Projects for legal entities and individuals

Over the next five years the Reconstruction and Development Plan envisages the construction of Solar Power Plants across Bulgaria with capacity in total for up to 1.7 GW. Those Solar Power Installations will be including batteries. From the second quarter of 2022 Businesses and private households will be able to benefit from European grants for construction of Photovoltaic power plants. 

Financing for Business entities

• Micro enterprises - with an average number of staff between 1 and 9 people. They can benefit from a grant that covers up to 50% of the value of their project, amounting to no more than BGN 350,000.
• Small enterprises - with an average number of staff between 10 and 49 people. They can apply for grant in the amount of 50% of the value of their project which does not exceed BGN 550,000.
• Medium enterprises - with an average number of staff between 50 and 250 people. They can benefit from European funding, providing up to 50% of the value of their project, amounting to no more than BGN 750,000.
• Large enterprises - with an average staff of over 250 people. They can apply for European support which covers up to 30% of the total value of their project and does not exceed BGN 1 million.

Financing for Households

Individuals will also be able to benefit from support under European programs, as it is available for projects for Solar power plants with power up to 5kW, amounting to between 45% and 65% of the total project value and up to BGN 6,250. Over 60,500 Bulgarian households are to take advantage of the attractive opportunity for European funding.