The renewable energy sector in Bulgaria
One of the conditions for Bulgaria to join the European Union was that by 2010, the country should be able to produce at least 10 per cent of its energy through renewable sources, wind, biomass, hydro, geothermic or solar energy, while by 2020 it has to reach 16 per cent. In this paper we will look at some of the conditions and companies which contribute to reach this percentage.
1. First of all we will point out some of the prerequisites for successful development.
It seems out that Bulgaria is really suitable country for the development of renewable energy. First of all, we have lower cost of labor compared to other countries. What is more, ...view middle of the document...
The report also points out that Bulgaria has capacities for the production of 250 000 tons of biodiesel and 60 000 tons of bioethanol per year.Biodiesel production relies on domestic raw materials, which could help improve the security of energy supplies.
2. Secondly, we will look at some of the biggest players on the Bulgarian RES Market and projects they are investing in.
a) German company BayernLB which is financing three photovoltaic parks constructed by Solea AG, a company based in the Bavarian town of Plattling, for Minstroy Holding JSC, Sofia.
b) Holleman Bulgaria OOD, a member of the Worldwide Project Consortium (WWPC) and Cargo Equipment Experts (CEE) networks, has transported a heavy water turbine measuring more than 10.5 m long and over five metres in height and width, destined for a hydroelectric power plant.
c) According to the announcement made by the Russia's oil major Lukoil; they will invest $4 million in the construction of a photovoltaic park near the Black Sea city of Bourgas. The power plant will be built on an area of 2.5 hectares and will have a capacity of 1.25 MW. The expected annual output of the solar facility is 1500 MWh of power, which will be sold on the free market.
d) Premier Power will be adding to its installed capacity portfolio with a recent deal that will see the company build four PV power plants, which will total 16.2MW, in Dimitrovgrad, Bulgaria.
3. Thirdly: Feed-in-tariff and other financial aspects with regard to strategic investors’ interest