EBRD has invested nearly 5.3bn euros in Bulgaria. The money has gone to 330 projects to grow the private sector, boost competition, and move toward a green economy. The international bank said this in a statement during a visit to the country this week by Mark Bowman, its vice president for policies and partnerships.
EBRD and the government have finished a large project to set rules for renewable energy and energy storage. This was part of the National Recovery and Resilience Plan. At the same time, the bank is working with the government to prepare private and public investments in infrastructure that the state calls vital for Bulgaria.
EBRD has worked with the Ministry of Energy on the national plan since 2023. The bank helps create grant schemes, runs competitive auctions, and checks finished projects. EBRD data shows that nearly 1bn euros from the plan helped bring in much more private money. This support helped add 3GW of solar power and battery storage systems. These steps changed Bulgaria's renewable energy market. They are speeding up the use of battery systems and made the country a European leader in this field relative to its economy size.
During his visit, Mark Bowman spoke with clients and government officials about future projects for battery energy storage. EBRD expects these investments to help clean up the energy sector, strengthen energy security, and lower energy prices. They will also make the power grid stronger, reduce limits on renewable energy, and allow the system to use more green power.
EBRD and the Bulgarian government have also strengthened ties on infrastructure by signing a Memorandum of Understanding. The goal is to create a way to prepare public-private partnerships.
EBRD says it has invested nearly 5.3bn euros in Bulgaria so far. This money has funded 330 projects to:
- grow the private sector
- boost competition
- move toward a green economy.