/LONDON, March 14, 2024, 11:00 GMT, RENEWABLE MARKET WATCHTM/ The Ministry of Energy of the Republic of Bulgaria has announced two requests for proposals for tender participation to support new renewable electricity generation and energy storage capacity under the National Recovery and Resilience Plan (RRP). These procedures are implemented under Investment 6, “Support for new capacities for electricity production from renewable sources and electricity storage” (C4.I6) of the RRP of the Republic of Bulgaria.
In the last few years, Bulgaria has been the focus of the investors’ interest. The political stability and predictability due to the NATO membership and the EU accession, the stable economic perspective and the growing credit rating of the country and its institutions were only some of the elements attracting the investors’ interest. The rapidly developing national industry has attracted external investors, a highly skilled workforce and a growing renewable energy market.
Chart 1: Cumulative Installed Capacity of Photovoltaic (Solar PV) Power in Bulgaria 2013 – 2023 (in MW); Source: Renewable Market Watch™
By the end of 2023, Bulgaria had a cumulative installed capacity of almost 3,000 MW (3GW) and registered an increase of 1,200 MW (1.2 GW) compared to 2022. The Bulgarian solar power market has been proliferating quickly since 2021, according to the recently published study Bulgaria Solar Photovoltaic (PV) Power Market Outlook 2024÷2033. For the first time in 2023, Bulgaria entered the group of European countries and installed more than 1 GW of new capacity for one year. Several large-scale solar photovoltaic (PV) projects with a power capacity above 100 MW were launched into commercial operation in Bulgaria between 2021 and 2023. Local and international investors will build new solar projects between 2024 and 2027.
Chart 2: Solar Share (in %) of Net Electricity Generation in Bulgaria 2013 – 2023; Source: ENTSO-E
The recent sharp increase in solar photovoltaic capacity and the expected increase of wind power capacity in Bulgaria will require a fast increase in energy storage facilities to avoid grid instability. The primary goal of the announced tender procedures is to help Bulgaria shift towards climate neutrality by boosting the share of clean energy in its energy mix. To achieve this objective, the investment aims to provide support for the development and grid integration of 1.43 GW of new renewable energy generation capacity and 0.35 GW of energy storage facilities.
The two tender procedures are:
1) BG-RRP-4.032 “Support for new renewable electricity generation and storage capacities with an installed capacity of 200 kW to 2 MW”
Procedure BG-RRP-4.032, “Support for new capacities for electricity production from renewable energy sources and electricity storage with installed capacity from 200 kW to 2 MW”, has a total budget of BGN 107,570,650 (€ 55,000,000). The funding is foreseen for constructing new solar and/or wind power generation capacities with local energy storage facilities (ESF), with the grant funding in the form of investment aid for these facilities. The procedure aims to build a minimum of 200 MW of RES generation capacity in combination with a minimum of 100 MW of ESF. There is no minimum amount of funding. The maximum amount per project proposal per company is up to BGN 35 854 000 (€ 18,331,859). The maximum grant intensity is up to 50% of the eligible costs but not more than BGN 1 075 706 (€ 550,000), excluding VAT per MW of installed ESF capacity.
To be eligible, the investment proposal should be for no more than 1/3 of the total storage capacity quota of the procedure. Companies from all sectors of the Bulgarian economy are eligible under the procedure, with the exception of those in the agricultural, forestry and fisheries sectors.
2) BG-RRP-4.033 “Support for new renewable electricity generation and storage capacities with an installed capacity of more than 200 kW”
Procedure BG-RRP-4.033, “Support for new capacities for electricity production from renewable sources and electricity storage with an installed capacity of more than 200 kW”, has a total budget of BGN 427,544,438 (€ 218,600,000) . The funding is only targeted at new solar and/or wind electricity generation capacity with local energy storage facilities (ESF), with the grant funding in the form of investment aid for these local facilities. The procedure aims to build a minimum of 940 MW of RES generation capacity in combination with a minimum of 200 MW of ESF. There is no minimum amount of funding. The maximum amount per project proposal per company is up to BGN 58 674 900 (€ 30,000,000). The maximum grant intensity for the applicant is up to 50% of the eligible costs but not more than BGN 743,215 (€ 380,000), excluding VAT per MW of installed ESF capacity. In order to be eligible, the investment proposal should be for no more than 1/3 of the total capacity quota for storage facilities under the procedure.
The procedure is open to companies from all sectors of the Bulgarian economy, except those in the agricultural, forestry, and fisheries sectors. Applicants should submit project proposals for the tender procedure electronically; the deadline is June 12, 2024.
If you need our support to participate in this tender, please do not hesitate to contact us.
More information about other large-scale solar projects planned in Bulgaria, a detailed scheme of the permitting and administrative procedure for solar photovoltaic (PV) power plants, a map of grid-saturated areas in Bulgaria, and full contact details of important solar project owners and developers, and much other information you will find in: Bulgaria Solar Photovoltaic (PV) Power Market Outlook 2024÷2033
In order to download the executive summary brochure with sample pages, please access from here: Bulgaria Solar Photovoltaic (PV) Power Market Outlook – Sample
For a better understanding of the benefits of using our reports, you may read here: Benefit List – Reports of Renewable Market Watch – 2024
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