News & Analysis

/LONDON, September 8, 2025, 11:20 BST, RENEWABLE MARKET WATCH™/

Bulgaria is situated in the South-Eastern part of the Balkan Peninsula. The country’s population is 7.284 million people, and its territory spans 110,912 sq.km. Bulgaria borders Greece and Turkey to the South, and North Macedonia and Serbia to the West. The Danube River to the North is our natural border with Romania; the Black Sea is situated to the East. Bulgaria is in the centre of a region which is undergoing a dynamic transition. Within 500 km of our capital city, Sofia (1.4 million people), a population of over 90 million lives in 9 countries that have recently embarked on their way to a market economy. This is a large market with rapidly increasing purchasing power.

Over the last few years, Bulgaria has been a focus of increasing investor interest. The political stability and predictability due to NATO membership and EU accession, the stable economic perspective, and the growing credit rating of the country after its acceptance into the Eurozone from 1 January 2026, along with its institutions, were only some of the elements attracting investors’ interest. External investors have been attracted by the rapidly developing national industry, a highly skilled workforce and a significant new market.

The development of operational solar PV power plants in Bulgaria began with modest steps in 2007, but progressed rapidly after the second half of 2010. At the end of 2024, the cumulative installed solar PV capacity in Bulgaria exceeded 4,400 MW (4.4 GW). Recent legislative changes in Bulgaria aim to facilitate the permitting process for solar power plants.
Several large-scale solar photovoltaic (PV) projects and battery energy storage system (BESS) projects with a capacity exceeding 50 MW have been announced in Bulgaria since 2023, and these projects are scheduled to be built between 2025 and 2028. For more information and details about these projects, you may read here:

Bulgaria Battery Energy Storage System (BESS) Market White Paper 2025.

The report provides a comprehensive overview of the market situation, dynamics, current issues, and prospects. You will find more than 120 pages of valuable information in this unique, in-depth analysis of the Bulgarian photovoltaic market, and will receive an overview of how the military conflict in Ukraine and the European Union’s efforts to achieve a significant reduction in Russian gas and other energy commodity imports will impact it. With comprehensive market data, this report brings clear and concise insights to help investors in their decision-making process. As 2023 and 2024 were challenging years for the photovoltaic industry, the time for making the right decisions during 2025 and the next few years is limited. The fast-changing market environment requires relevant and accurate information. For your convenience, we offer the opportunity for orders with customised report content..

Reasons to buy this market report are, but are not limited to:

1. Overview of the Bulgarian political and economic environment
2. Solar resource potential in Bulgaria
3. Financial Model and Analysis of 50 MW Photovoltaic (Solar PV) Power Plant Investment in Bulgaria (IRR, WACC, Payback, NPV, Cash Flow, etc.)
4. Over 55 charts, tables, and maps
5. Overview of Bulgarian photovoltaic market development 2014 ÷ 2034
6. Grid-connected photovoltaic installations
7. Future market trends and planned photovoltaic projects for 2025 ÷ 2034
8. Market prices of fully permitted and operational photovoltaic projects
9. Bulgarian Legal and energy regulatory framework for renewable projects
10. Key companies and competitive landscape in the photovoltaic sector
11. Review of most relevant financing and supporting incentives
12. SWOT Analysis (detailed in 5 pages)

For more information about the solar power market in Buglaria, including full contact details of solar project owners and developers, you may read here:

Bulgaria Solar Photovoltaic (PV) Power Market Outlook 2025÷2034

For a better understanding of the benefits of using our reports, you may read here: Benefit List – Reports of Renewable Market Watch – 2025

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Renewable Market Watch™ is delivering strategic insight into emerging renewable energy markets through its experienced research team and cutting-edge predictive analytics data platform. We partner with our customers to provide research, data and consulting reports in areas appropriate to their specific requirements. Our primary focus is emerging renewable energy markets in Asia Countries, Western Europe, South Europe, Balkan countries, Central and Eastern Europe, CIS states (the former Soviet Union), LATAM countries, and MENA countries. For more information about Renewable Market Watch™, please visit:

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