site.btaBulgaria Has Huge Potential to Lead in Energy Transition, Swift Action Is Needed to Capitalize on It, Head of EC Representation Says

Bulgaria has an outstanding potential to lead in the energy transition and it needs to take swift action to ensure the country's place in this transition, the Head of the European Commission (EC) Representation in Bulgaria, Yordanka Chobanova, said here Wednesday. She was speaking at an international forum on Just Transition Opportunities Beyond Borders, dedicated to the economic transformation of coal regions.

The event is taking place at Sofia's Expo Hotel and is part of the Transition of Opportunities project, which aims to promote the contribution of the EU cohesion policy, the Just Transition Fund and the EU Recovery Plan to ensuring a smooth and just transition to a climate-neutral economy.

"Bulgaria, like many other EU countries, has deep roots in coal energy and for decades it has created employment, drove economic growth, and provided energy," said Chobanova. "Today we are faced with the need to move forward, and not only for environmental reasons, but also because the economy as a whole is moving fast towards a world that is based on modern technologies, and we need to make that transition."

She noted that at the heart of this transition is the Green Pact, which, is not only about the environment, but also about industry, about caring for people and about driving economic growth. 

"To make this a just transition with care for people, the EC is committing significant financial resources. The funds are there and the logic of a just transition is to leave no family, no region without the necessary support so that this transition is smooth and does not cause disruption. Not only Bulgaria, but throughout the EU there are countries and regions that are heavily dependent on the coal industry, and that is why one of the instruments that the EU has introduced is the Just Transition Fund. Bulgaria has EUR 1.3 billion to inject into the Bulgarian economy and more specifically the coal regions, and this year is a key year for the investment," said Chobanova. 

She added that in addition to this fund, European funding is available under the Cohesion Fund and the Recovery and Resilience Plan. 

"This funding is not just for giving up coal: it is for investing in a more innovative, more modern future for Bulgaria, which all Bulgarian citizens deserve," said Chobanova.  

She warned that without careful planning, the challenges are "very real". "That is why we are determined to make sure that the transition is well-planned, well-managed and inclusive. This requires cooperation with local authorities, with NGOs," she said.