site.btaInnovation Ministry Approves over 1,300 Companies for EU-Funded Energy Efficiency Improvement

The Ministry of Innovation and Growth announced on Friday that it had approved 1,322 companies for their energy efficiency improvement with EU funds. They will receive nearly EUR 60 million under the Competitiveness and Innovation in Enterprises Programme.

The procedure for energy efficiency and the use of energy from renewable sources has attracted considerable interest. Project proposals were submitted by 2,678 companies, with more than 70% located outside Sofia and the country's most developed Southwest Planning Region.

The measure is a continuation of the Ministry's efforts to achieve greater energy independence for businesses and reduce electricity, natural gas, liquid fuel, and other energy bills. Micro, small, and medium-sized enterprises were eligible to submit project proposals. 

The minimum funding is EUR 15,000 and the maximum is EUR 50,000. The funds can be invested in energy-efficient equipment and facilities that enable companies to generate and store their own electricity. Such equipment includes heat pumps, waste heat recovery systems, energy-efficient insulation systems in buildings, photovoltaic panels, local energy storage facilities (batteries), etc.

Due to the large number of companies ranked in the reserve lists, the Ministry will take steps to initiate a proposal to the Programme Monitoring Committee to provide additional funds under the procedure's budget, the Ministry reported.