Renewable Energy in Bulgaria

Bulgaria is an EU member state located in Southeastern Europe and has experienced an exceptionally swift growth of its renewable energy sector over the last years because of a conducive regulatory framework and an abundance of natural energy sources including high solar irradiation levels, high wind speeds and extensive biomass deposits.

In particular, the Bulgarian solar and wind energy sectors have seen annual energy production capacity growth rates of over 100% since 2006, which are expected to persist over the coming years. According to the European Wind Energy Association (EWEA), Bulgaria will become an EU-Leader in terms of wind farm growth in the near future and will see a 10-fold increase of its total energy production capacity from wind turbines by 2020.

International industry experts have made similarly favorable forecasts for the Bulgarian solar & bio-energy sectors. When combined with the Bulgarian administration’s comprehensive economic recovery programs, these exceptional RES sector growth trends clearly indicate that Bulgaria offers a very promising investment environment for international Renewable Energy Systems investors and developers for years to come.

Bulgaria is set to dramatically expand its wind energy output in the next 10 years, from the current 330 MW installed to over 3,000 MW by 2020, wind power will meet 13.5% of Bulgaria’s electricity demand.

This market research study offers a detailed overview over the most important legislative and regulatory factors that have transformed the Bulgarian RES sector into an exceptionally attractive destination for RES investors and developers. In particular, the study offers detailed descriptions of the individual provisions of the Bulgarian Law for Renewable & Alternative Energy and Biofuels and also explains their relevance for and effects on RES project development and investment activities in the country.

Also, the study includes an overview over the legal permits that must be obtained before and during the development process of new RES projects in Bulgaria to ensure that they receive governmental approval in order to commence operation immediately after construction works are completed.

The final part of the study offers an outline over the currently available information about the recently announced legislative reform plan for the Bulgarian RES sector, which is expected to become law in 3Q2010, and also provides a future outlook based on the information and data outlined in the previous two sections.