The IntelliNews Bulgaria Renewable Energy Report offers an extensive summary of the renewable energy market in Bulgaria segmented into wind, solar, biomass, hydropower and geothermal energy. It includes a complete coverage of the latest developments and corporate and industry news, accompanied by thorough statistics and comments. This sector report is ideal to keep you abreast on recent company and industry news. Written by local professionals, it is a unique market and business intelligence analysis, tailored to save time by providing in-depth information, while helping you to make confident and informed business decisions.
Countries in central and south-eastern Europe stick to their strategy to boost the share of renewable energy in overall consumption as a way to diversify their power mixes and reduce dependence on fossil fuels. So far geographic and weather specifics have been the main factors that determine the priority sectors for each individual state.
Governments in the region have introduced measures to support alternative energy producers in order to meet EU targets. Yet, the ongoing financial crisis in the eurozone is forcing policy-makers to cut spending amid fears of a renewed recession, which has a negative impact on the development of the sector that strongly depends on state support.
Bulgaria aims for a 16% share of green power into its power mix by 2020 to meet the common EU target. Renewable sources accounted for 15% of the country’s overall power generation already in 2010 thanks to the deployment of abundant water resources in big and small hydropower plants. Hydropower comprises 95% of the country’s present renewable energy generation.
The development of new capacities based on the remaining clean energy sources, however, offers great opportunities for investors. Projections show that in order to meet its long-term target Bulgaria has to boost nearly ten times its end-2011 wind power capacities until 2020. Wind power is expected to reach a share of 30% in the country’s alternative energy output, becoming the second most important energy source. Bulgaria is furthermore expected to raise around 25 times each of its current solar and small hydropower capacities until the end of the decade.
Bulgaria’s ranking in Ernst & Young’s Renewable Energy Country Attractiveness Index (CAI) has slightly worsened in the past year following the adoption of a stricter renewable energy bill in May 2011. Industry officials identify the regulatory uncertainties and the inadequate grid infrastructure as major barriers before green investment in Bulgaria. Moreover, the government has revealed plans to cut its support to the sector’s costly investments as customers are starting to feel the effects of rising electricity prices due to the boom in clean energy production.
Table of Contents
Romania is green energy leader in the region
Czech Republic and Bulgaria reduce RES support
Poland and Romania are best CEE countries for renewable energy investments – E&Y
Bulgaria aims for 16% green energy target by 2020
Bulgaria relies on coal and nuclear to meet its energy needs
Installed renewable energy capacity reaches 2,747MW
Bulgaria adopts new Renewable Energy Act
Bulgaria falls one position to 34th on E&Y’s Renewable Energy CAI
Hydropower sector is major green source
Wind to become second most important RES with 30% share
Govt to focus on biomass energy sector in 2012
State energy regulator sets tariffs for biogas
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