Bulgaria will receive advisory support from the European Investment Bank (EIB) to help decarbonise the Maritsa East Complex, one of Europe’s largest coal-fired power sites. The complex produces up to 35% of Bulgaria’s electricity and includes some of the continent’s largest open-pit coal mines.
Under a new agreement, the EIB will work closely with the Bulgarian Ministry of Energy to promote clean energy projects at Maritsa East. The bank’s advisory services will help the ministry develop priority renewable energy initiatives and improve its ability to manage complex projects. The goal is to boost the use of European Union funds to support Bulgaria’s green transition.
EIB Vice-President Kyriacos Kakouris said the bank is committed to a just transition. “We want to ensure no people or regions are left behind as Bulgaria shifts away from mining and carbon-heavy energy production,” he said. The EIB’s work will focus on supporting economic and social cohesion in the regions most affected by this change.
The Maritsa East Complex is a major source of greenhouse gas emissions in Bulgaria. Reducing coal use there is critical to Bulgaria’s and the EU’s climate goals. Bulgarian Energy Minister Zhecho Stankov said the partnership with the EIB will help the complex move toward sustainability while supporting economic growth and the well-being of citizens. “The EIB brings experience and expertise that will help us meet the challenges of a green future,” Stankov said.
Since early 2024, the Ministry of Energy, with EIB support, has made strong progress in planning the complex’s transition. This included detailed studies of the site, assessments of its infrastructure, and the creation of an investor roadmap. The work identified key projects that can deliver significant impact soon and set investment priorities for the companies operating at Maritsa East.
The EIB provides this advisory support through the European Commission’s InvestEU Advisory Hub. This platform connects project promoters with experts who help prepare projects for funding, making it easier for Bulgaria to access EU investment for its coal-to-clean energy shift.
About the EIB: The European Investment Bank is the EU’s long-term lending arm. It finances projects in areas like climate action, innovation, infrastructure, and social development. In 2024, the EIB Group signed nearly €89 billion in new loans for over 900 projects across Europe.
The InvestEU Advisory Hub helps mobilize private and public funds for EU priorities such as the European Green Deal. It provides technical advice and support to make projects more investment-ready and effective.
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