The Energy Efficiency and Renewable Sources Fund (EERSF) is a legal entity, established in accordance with Chapter 4, Section I of the Energy Efficiency Act (EEA) from 2004. EERSF manages the financial resources received by the Republic of Bulgaria from the Global Environment Facility (GEF) through the International Bank for Reconstruction and Development (IBRD) and from other donors. EERSF is an independent legal entity, separate from any governmental agency or institution, and performs its activity in accordance with the EEA, Energy from Renewable Sources Act (ERSA), current legislation framework, and the agreements with the major donors.
EERSF is structured as a self-sustainable commercial entity that concentrates its efforts to facilitate energy efficiency (EE) investments, and to promote the development of a working EE market in Bulgaria. The Fund’s main environmental objective is to support the identification, development and financing of viable EE projects, resulting in substantial reduction of greenhouse gases (GHGs).