Energy Efficiency and Renewable Sources Fund took part in the conference “Sustainable financing of energy efficiency projects and RES”

On June 2-3, 2022 at the Expo Center “Flora” in Burgas representatives of international and Bulgarian financial institutions and energy experts discussed the latest trends in sustainable energy during the conference “Sustainable financing of energy efficiency projects and renewable energy sources”.

The main topic discussed at the event was the creation of the National Decarbonization Fund (NDF). Probably it will be one of the most important reforms in the National Recovery and Sustainability Plan, which will start the upcoming changes in the energy sector in Bulgaria. NDF is expected to invest in all areas of sustainable energy development – from the renovation of buildings and the installation of RES to providing business support.

The head of the team working on the structuring of the NDF – Marko Markov from Econoler Bulgaria, said: “The work on the structuring of the Fund involves representatives of all stakeholders. The government directly monitors activities, but we consult industry and professional organizations, energy experts, financial institutions. The conclusion: the path is to blend public and private funding, not only because the goals are high, but because the citizens and the business expect opportunities to invest in green energy.”

That was confirmed by the Executive Director of Sustainable Energy Development Agency (SEDA) – Ivaylo Aleksiev, who said: “In our long-term renovation strategy we have set ambitious goals for the entire building stock, which cannot be achieved only with government subsidies. We need to find a way to attract private investments and we expect the NDF to help with that.”

The organizer of the event Dragomir Tzanev – Executive Director of the Center for Energy Efficiency EnEffect said: “The National Decarbonisation Fund is a unique opportunity and we must do everything possible to really mobilize investments and not to become a redistributor of government subsidies. At the same time, we must not forget the other instruments that exist now, because the energy and economic crisis has made it very clear to us that we have no time to lose.”

Another mentioned topic during the forum was the prospects and opportunities for partnership of the NDF with other funding institutions in the field of energy efficiency. Representatives of the Energy Efficiency and Renewable Sources Fund, FLAG Fund, NTEF, Postbank, Fund of Funds took part in the discussion.

Galia Vassileva, Executive Director of EERSF, also commented on the topic. She shared: “While other funds operating in our country are engaged in financing various activities, EERSF is the only fund in Bulgaria specialized in financing and guarantee intended only for projects related to energy efficiency and renewable energy sources for own consumption.”

Galia Vassileva added: “Since its establishment through the Energy Efficiency Act in 2004, EERSF has been working concentrated in this area, having the opportunity to offer many years of experience, specialized know-how and high-quality free technical assistance. These advantages give confidence that by changing the regulatory framework, the Fund could make a greater contribution to the achievement the set national goals, as well as working together with the NDF.”