Bulgaria has confirmed its role as a host country under the European Union’s Financial Mechanism for Renewable Energy, following an invitation from the European Commission’s Directorate-General for Energy to express binding interest for the 2026 funding round. Under the planned scheme, the European Commission will launch a dedicated call to support renewable energy investments located in Bulgaria and Finland, with the program backed by funding from Luxembourg and a total budget of €55 million.
In Bulgaria, financial support will be directed toward ground-mounted solar power plants combined with energy storage systems. All supported facilities must comply with long-term operational requirements, including a minimum operating period of 15 years after commissioning for projects implemented in Bulgaria, ensuring durability and long-term contribution to the power system.
The supported Bulgarian projects will be concentrated in the country’s coal-dependent regions of Pernik, Kyustendil and Stara Zagora. By focusing on these areas, the initiative aims to support the transition away from coal, accelerate the deployment of clean energy infrastructure, and address regions where economic restructuring pressures are most pronounced.
The European Climate, Infrastructure and Environment Executive Agency (CINEA) will manage the entire process, including issuing the call for proposals, evaluating applications, and overseeing project implementation. Eligibility for funding is open to both public and private legal entities, regardless of their country of origin.
According to the Government, participation in the Financial Mechanism will help expand Bulgaria’s solar generation capacity while improving the integration of energy storage, enabling greater use of low-carbon electricity. The geographic focus on coal regions is expected to complement existing just transition instruments and strengthen efforts to modernize local economies as part of Bulgaria’s broader energy transition strategy.