Support from the European Bank for Reconstruction and Development (EBRD) has helped Bulgaria meet key energy targets under its Recovery and Resilience Plan, the bank said on Friday in a statement emailed to BTA.
The support has also helped deliver record renewable generation and electricity storage capacity. Bank-backed schemes have helped transform the country’s power system in just two years.
EBRD helped Bulgaria meet the plan’s key energy targets while modernizing its power system and strengthening its energy security.
Since 2023, EBRD has worked with the Ministry of Energy to design and implement competitive grant schemes for battery energy storage systems (BESS), both co-located with other energy facilities and standalone. The bank’s support covers the entire process, from designing the schemes and competitive funding allocation procedures to supporting implementation and verifying completed projects. EBRD is working with a consortium of consultants led by Schoenherr.
EBRD said nearly EUR 1 billion in funding under the plan had attracted several times that amount in private capital. This has accelerated the deployment of renewable generation capacity and electricity storage systems in Bulgaria on an unprecedented scale.
The investments are expected to deliver around 3 gigawatts of new solar photovoltaic capacity and 15 gigawatt-hours of battery storage capacity. This will substantially increase the power system’s flexibility and its ability to store electricity.
EBRD-backed schemes have helped transform Bulgaria’s power system in just two years. They have accelerated the deployment of battery storage systems and enabled the country to make more efficient use of its growing renewable electricity output.
This additional flexibility allows electricity generated during periods of strong sunshine to be stored for use when demand is higher. It benefits both Bulgaria and the wider regional power system. During regional supply strains in the summer of 2026, the increased flexibility helped Bulgaria remain a net electricity exporter despite difficult conditions in Southeastern Europe.
Relative to the size of its economy and electricity consumption, Bulgaria is already among Europe’s leading countries in battery storage capacity. By mid-2026, the country had around 3.3 gigawatts of battery power capacity and 8.6 gigawatt-hours of storage capacity. Most of this capacity is in large-scale, grid-connected systems. The existing capacity is comparable to that of much larger European economies, demonstrating the scale and speed of Bulgaria’s expansion of electricity storage.
“The scale and speed at which Bulgaria is building battery storage capacity are a remarkable achievement. We are proud to have worked with the Ministry of Energy and helped turn the country’s ambitious targets into tangible changes that can encourage investment and accelerate the energy transition,” EBRD Vice President for Policy and Partnerships Mark Bowman said.
Earlier on Friday, EBRD said it had invested nearly EUR 5.3 billion in Bulgaria through 330 projects supporting private-sector development, competitiveness and the transition to a green economy.
The partnership between Bulgaria and EBRD builds on a memorandum of understanding signed by the Bulgarian government and the bank in 2022. The memorandum provides for support in implementing the Recovery and Resilience Plan and other European Union instruments.
Since 2023, EBRD has invested EUR 520 million in 23 green energy transactions and supported the installation of 732 megawatts of renewable generation capacity. These investments are expected to help reduce carbon emissions by around 920,000 tonnes a year.
European Bank for Reconstruction and Development Helps Bulgaria Meet Energy Targets, Expand Renewables and Storage THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-10-02 17:45:23
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