SOFIA – The Bulgarian caretaker government has decided to host under the Financial Mechanism for Renewable Energy, responding to an invitation from the Directorate-General for Energy of the European Commission to express binding interest for 2026.
The European Commission intends to launch a procedure under the Financial Mechanism to provide investment support for projects in Bulgaria and Finland, which will serve as host countries. Luxembourg will supply the financial resources, with a total budget of 55 million euros allocated for this procedure.
The funding will target projects involving ground-mounted photovoltaic plants with battery storage systems in Bulgaria, as well as those for ground-mounted photovoltaic systems in Finland.
In Bulgaria, the projects will be situated in three coal regions: Pernik, Kyustendil, and Stara Zagora, and the facilities must function for a minimum of 15 years post-commissioning.
The management of this procedure, including the announcement of the call, the collection and evaluation of project proposals, and the monitoring of their execution, will be handled by the European Climate, Infrastructure and Environment Executive Agency. Legal entities, both public and private, from any country worldwide are eligible to apply for funding.
Bulgaria’s role as a host country within the Financial Mechanism will enable investment support for combined projects focused on constructing photovoltaic plants with energy storage systems. This initiative aims to enhance solar energy capacity and boost the use of environmentally friendly energy in the country. By situating projects within the three coal regions, this effort will align with the financial instruments outlined in the territorial just transition plans and support the energy transition of these areas, according to a statement from the government press service. (14.01.2026)
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