The programme also receives funding from the Kozloduy International Decommissioning and Support Fund, which will be used for technical assistance to support project preparation and awareness raising activities, and for incentives to companies and banks that successfully implement projects.
The incentives will depend upon the estimated level of energy savings or annual production of clean energy derived from renewable sources.
Reduction in energy intensity is one of the priorities of the country’s energy policy, together with ensuring the security of supply and the sustainable development of the energy sector.
Bulgaria has already set a national target of saving at least 9% of domestic energy consumption over a period of nine years up until 2016.
EBRD President Thomas Mirow said that this credit line was an important element of the Sustainable Energy Action Plan signed with the government of Bulgaria. “It will further increase investments in energy efficiency and renewable energy at a time when market conditions remain difficult,” he said.
“With the funds from this credit line UniCredit Bulbank aims to encourage and support the energy responsible attitude and will promote the energy production from renewable energy sources, which has a lot of environmental and economic advantages”, UniCredit Bulbank Chief Executive Officer Levon Hampartzoumian said.
