Renewables

EU greenlights Bulgaria’s recovery, resilience plan

EU Bulgaria recovery resilience EUR 6 3 billion grants

Photo: Christophe Licoppe / EC - Audiovisual Service

Published

April 7, 2022

Country

Comments

0

Share

Published:

April 7, 2022

Country:

Comments:

0

Share

After several delays, the EU is about to formally adopt a EUR 6.3 billion grant package for Bulgaria as the European Commission finally endorsed the country’s recovery and resilience plan.

The European Commission adopted a positive assessment of Bulgaria’s National Recovery and Resilience Plan worth EUR 10.4 billion, of which EUR 6.3 billion is in grants and the remainder should be provided through public and private financing. The package was approved after several delays. It is part of the European Union’s Recovery and Resilience Facility (RRF), which makes up most of the NextGenerationEU spending program for a rebound from the COVID-19 crisis.

The funding is intended for the green and digital transitions, strengthening economic and social resilience and the cohesion of the single market. The Council of the EU now has four weeks to formally adopt the plan.

Power sector emissions to be cut 40% by 2025

The commission’s assessment finds that Bulgaria’s plan devotes 59% of its total allocation to measures that support climate objectives. It includes tripling power generation from renewables by 2026, cutting greenhouse gas emissions of the power sector by 40% by 2025 and setting out a framework for a coal phaseout. Sustainable transport is also promoted, as are measures in the areas of water management and biodiversity conservation and restoration.

“It is one of the greenest plans we have approved so far,” European Commission President Ursula von der Leyen said in Sofia at the event with Prime Minister Kiril Petkov.

Plan enables support for 1.4 GW in renewables with energy storage

The plan enables support for the installation of 600 MW in battery power with a total capacity of 6 GWh and 1.4 GW in power plants using renewable sources that would include energy storage. There are also incentives in the package for buildings with 10,000 households to install renewable energy devices. The energy sector decarbonization item is worth EUR 1.7 billion.

Energy efficiency measures are envisaged for residential buildings and public structures. The grants in the segment total EUR 924 million. The plan includes EUR 666 million for sustainable transportation.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Monarch butterfly IUCN Red List 2022

Migratory monarch butterfly now Endangered – IUCN Red List

01 August 2022 - The migratory monarch butterfly (Danaus plexippus plexippus), known for its spectacular annual journey of up...

Pope Francis act decisively climate change breaking point

Pope Francis: All must act decisively on climate change for we are reaching breaking point

22 July 2022 - Pope Francis called on the world's nations to work together for the effective implementation of the Paris Agreement

resource consumption Earth Overshoot Day Balkans global average

Earth Overshoot Day – resource consumption in Balkans is above global average

08 July 2022 - The Earth Overshoot Day for 2022, the date when humanity spends all the planet's renewable resources for one year, lands on July 28

Biodiversity Day: Building a shared future for all life

Biodiversity Day: Building a shared future for all life

22 May 2022 - This year’s slogan of the International Day for Biological Diversity celebrated on May 22nd is...