The Bulgarian interim government published their proposal for funding through the EU’s post-Covid recovery plan that included €800 million to facilitate the country’s green energy transition, focusing on geothermal, hydrogen and solar roof aid for individual households. Around €448 million, will be assigned for the development of renewable energy sources with storage batteries totalling 1.7 GW.
Another €35 million will be allocated to finance green hydrogen-producing enterprises, it is expected that by 2026 the country would be able to produce 7800 tonnes of green hydrogen per year. Moreover, €70 million will go towards covering the needs of around 60000 households with solar roofs. The new proposal also highlights the viability of a geothermal power plant in the Northern part of the country. Resources on the site are estimated at a depth of around 4,500-4,800 meters. Exploratory works will be conducted by the country’s Technical University in partnership with the Sustainable Energy Development Agency. Funding will also be made available for a research laboratory at the university to support development ambitions.
Sources:
https://www.themayor.eu/en/a/view/bulgaria-decides-to-bet-on-geothermal-8477
https://www.thinkgeoenergy.com/bulgaria-plans-exploration-for-geothermal-project
