Bulgaria Commits to Phasing Out Coal-Fired Power Plants by 2030, Prioritizing Renewable Energy

Bulgaria's Minister of Environment and Water, Julian Popov, has affirmed the country's commitment to phasing out coal-fired power plants, emphasizing that the transition will be market-driven rather than state-mandated. Minister Popov stated that the market forces are currently leading the closure of such plants and predicted that there is no viable future for them beyond 2030.

Currently, 25% of Bulgaria's electricity comes from renewable sources, with a focus on further developing wind energy. Minister Popov noted that many private power plants are seriously considering abandoning coal within the next three years.

Highlighting the potential for the Maritsa-Iztok region to attract substantial investments, Minister Popov estimated that the area could secure between BGN 20-30 billion in investments over the next decade, provided there is a clear and predictable regulatory environment.

Minister Julian Popov emphasized the importance of a fair transition from coal and natural gas to renewable energy, ensuring that a significant number of jobs and energy-poor individuals are not adversely affected.

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