BULGARIA – 30 MW in photovoltaic energy – under development

 

As a member of the EU, Bulgaria has an obligation to support renewable energy and create the appropriate environment for the development of the industry. The renewable energy sources (RES) sector in Bulgaria has undergone rapid development in the past few years. Large-scale hydropower is currently the main source of renewable energy, however, investment in wind, solar and biomass has increased steadily.

RES-E policy in Bulgaria is supported through a feed-in tariff system, differentiated by technology. This FIT framework has lead to large-scale wind energy project development as well as significant solar PV farms.

Bulgaria has committed to reach 16% share of RES energy in the final gross energy consumption by 2020 and 11% share of RES in gross electricity consumption by 2010. Although, the extremely limited capacity of the grid and its poor condition and maintenance are among the key factors preventing the renewable energy field from booming, Bulgaria has become a strategic option for developers due to its attractive feed-in tariffs.

 

Renovatio’s strategy for Bulgaria is to develop a pipeline of 30 MW, ranging from 1 MW to 5 MW, in order to achieve a diversified portfolio that would prove attractive for potential future end buyers, but which could also become an important revenue generator if operated by Renovatio itself.