site.btaBulgaria to Participate as Host Country under EU Renewable Energy Financing Mechanism

Bulgaria will participate as a host country under the EU Renewable Energy Financing Mechanism (RENEWFM), the Council of Ministers decided on Wednesday, following an invitation sent to the country by the European Commission’s (EC) Energy Directorate-General to express binding interest for 2026.

The EC plans to launch a procedure under RENEWFM through which investment support will be provided for projects implemented on the territory of Bulgaria and Finland as host countries. The financial resource is provided by Luxembourg. The total budget of the procedure amounts to EUR 55 million.

Under the procedure, projects for ground-mounted photovoltaic power plants with battery storage systems in Bulgaria, as well as ground-mounted photovoltaic systems in Finland, will be financed. In Bulgaria, the projects must be located in the three coal regions - Pernik, Kyustendil and Stara Zagora, and the facilities must operate for at least 15 years after being commissioned.

The management of the procedure, including the launch of the call, the submission, evaluation of project proposals and monitoring of their implementation, will be carried out by the European Climate, Infrastructure and Environment Executive Agency. Public or private legal entities from any country worldwide will be eligible to apply for funding.

Bulgaria’s participation in RENEWFM as a host country will provide investment support for combined projects for the construction of photovoltaic power plants with energy storage systems, enabling an increase in installed solar capacity and a rise in the consumption of clean energy in the country.