EBRD advances renewable energy and infrastructure development in Bulgaria

• EBRD and Bulgaria complete landmark renewable-energy and storage work under the Recovery and Resilience Plan
• EBRD will continue supporting major battery energy storage projects in south-eastern Bulgaria
• Memorandum of understanding signed with government of Bulgaria to prepare public-private partnership and concession projects

The European Bank for Reconstruction and Development (EBRD) is further strengthening renewable energy and infrastructure investment in Bulgaria following several milestone achievements. The milestones – celebrated during a visit by Mark Bowman, EBRD Vice President for Policy and Partnerships – include the completion of major renewable-energy and storage policy work under the country’s Recovery and Resilience Plan (RRP), and a new partnership with Bulgaria’s government to prepare critical infrastructure investments.

The EBRD has worked with Bulgaria’s Ministry of Energy since 2023 on the design of grant schemes, competitive auctions and technical verification of completed projects under the RRP. Almost €1 billion of RRP funds have helped mobilise several times that amount in private investment, supporting the deployment of 3 GW of solar photovoltaic capacity and 15 GWh of battery energy storage. The schemes have transformed Bulgaria’s renewable-energy market, accelerating the deployment of utility-scale battery storage and establishing the country as a European leader in energy storage relative to its size.

During the visit, Mr Bowman discussed further battery storage projects with government representatives and clients. Such investments will strengthen grid resilience, reduce constraints on renewable generation and enable more renewable energy to be integrated into Bulgaria’s electricity system. As Bulgaria works to reduce its reliance on fossil fuels, renewable energy and storage are playing an increasingly important role in decarbonising the country's power sector, strengthening energy security and reducing energy prices in Bulgaria.

The EBRD and Bulgaria’s government also signed a memorandum of understanding laying the foundations for the Bulgarian Public-Private Partnership (PPP) Preparation Facility. The initiative will support the preparation and implementation of PPPs and concessions, help mobilise private capital and accelerate the modernisation of transport and other critical infrastructure. Initial areas of cooperation will include transport and connectivity, energy, irrigation infrastructure and industrial zones.

Mr Bowman said: “The EBRD’s partnership with Bulgaria spans policy reform, investment and institution building. The successful completion of the Recovery and Resilience Plan energy milestones demonstrates what can be achieved when ambitious reforms are matched by strong implementation. The financing signed today and our new cooperation on public-private partnerships will help convert that momentum into further investment, supporting sustainable growth and economic resilience.”

The EBRD is a leading institutional investor in Bulgaria, having invested almost €5.3 billion in the country through 330 projects, with a strong focus on private sector development, competitiveness and the green economy transition.