Given the challenges of the energy crisis, we need joint efforts, shared responsibility, and cooperation among stakeholders to ensure that the transition to a green economy is fair for all. This was said by the Deputy Minister of Environment and Water Reneta Koleva at the opening yesterday of a forum for green business, organized by the British-Bulgarian Business Association in Sofia.

Deputy Minister Koleva emphasized that the topics of the forum fall within the context of the commitment by the EU and its member states to achieve climate neutrality by 2050. “The energy transition is one of the mandatory steps towards achieving climate neutrality. Therefore, increasing energy efficiency and the use of energy from renewable sources is a priority for the government,” she added.

British Ambassador Rob Dixon, in turn, noted that small and big businesses in all sectors of the global economy play a crucial role in reducing environmental impact, improving energy efficiency, and developing and deploying the technologies needed for a transition to green energy. “The British Embassy is working with the Bulgarian government to share good practice from the UK in creating a legal and regulatory environment and a favorable financial framework for offshore wind power generation,” he added. The chairman of the British-Bulgarian Business Association Gilbert McCall confirmed that the topic of energy efficiency is important for the members of the association, who actively seek and deploy green good practices in their companies.

In the long term, achieveing the goals for increasing energy efficiency is strategically linked to the renovation of the building stock, as priority will be given to measures with the use of renewable energy sources. Last year, the Council of Ministers adopted a Long-term national strategy to support the renovation of the building stock until 2050. As the main financial scheme in support of the strategy, it is foreseen to create a single Fund for decarbonization, financed by the European Cohesion Funds. The fund will consist of three separate sub-funds according to the type of final beneficiaries – “Public sector”, “Commercial companies”, and “Residential buildings”.

“The energy transformation and green transition should be seen not only as a challenge, but also as a real opportunity for economic growth. This is only the beginning of a process of complete transformation, which will make a significant contribution to restoring the growth potential of the economy, and will ensure resistance to negative external impacts,” said Reneta Koleva. She added that the other important tool to support the transition to a green economy is the Recovery and Resilience Plan, which is the new roadmap for the decarbonization of the Bulgarian industry, for econoic development and growth coupled with sustainable and preserved environment.

Investments within the plan are aimed at a green and digital transition to strengthen the economic and social sustainability. Innovative solutions include renewable energy sources with energy storage facilities, a pilot geothermal plant for the production of heat and electricity, digitization and electrification of transport.

A scheme to support pilot projects for the production of green hydrogen and biogas is also envisaged. The main objective of the measure is to provide support for the development of pilot projects enabling the deployment of green hydrogen and biogas in industrial productions, as well as for their future use in transport and the production of electricity and heat.