site.btaEnergy Ministry Receives BGN 11 Bln in Letters of Intent for Low-carbon Investments in Stara Zagora Region

About BGN 11 billion in letters of intent for low-carbon investments in Stara Zagora Region, Southern Bulgaria have been submitted to the Energy Ministry in response to its call for proposals, the ministry said in a press release on December 11.

Stara Zagora is one of the regions in Bulgaria where the economy has been dominated by coal extraction and coal-based power generation. A transition to low-carbon technologies is planned there.

From September 2023 until November 6, 2023, the Energy Ministry received over 70 letters of intent from 32 companies for investments totalling BGN 11 billion. The proposed projects are aimed to create over 10,000 new jobs and retain more than 11,000 existing jobs.

Some of the proposals have come from large industrial companies planning to invest in low-emission technologies of high value added. It is noteworthy that large employers in the region, including state and private energy companies, intend to put money into low-emission facilities and projects for new renewable-energy power generation capacities along with energy storage and green hydrogen production systems.

The Energy Ministry noted that the letters of intent are of indicative nature. After a territorial just transition plan is approved for Stara Zagora Region, procedures will be worked out for applicants to seek financial support from the EU Just Transition Fund.

Earlier on December 11, employees of the Maritsa East Mines asked to meet with the company management in Radnevo. Trade unions proposed another discussion on the territorial just transition plans.

Back in October, workers at coal-fired power plants and coal mines in the region blocked traffic along the Trakia Motorway and the Hainboaz Pass for two weeks. The protests were sparked by proposed economic transformation projects.