Bulgaria receives 65.2 million euros from EU to strengthen the electricity grid

Bulgaria has received 65.2 million euros from the European Commission to strengthen the electricity grid in the country and integrate renewable energy sources into it. The money comes from the EU's Modernisation Fund, which supports the modernisation of energy systems, the reduction of greenhouse gas emissions in the energy, industry and transport sectors and the improvement of energy efficiency.

In addition to Bulgaria, 9 other Member States are benefiting from the first payments this year. The European Union has disbursed €2.967 billion to support 39 energy projects in Bulgaria and 9 other countries.

The EU's Modernisation Fund is financed from the proceeds of auctioning emission allowances under the EU Emissions Trading System. It aims to support 13 lower-income Member States in their transition towards climate neutrality. The beneficiary Member States are Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania and Slovakia, as well as Greece, Portugal and Slovenia, which are eligible for support from the Modernisation Fund from January 2024.

The nine countries, in addition to Bulgaria, benefiting from the first payment for 2024 are Croatia (€52 million), the Czech Republic (€835.2 million), Estonia (€24.1 million), Hungary (€76.8 million), Latvia (€26.8 million), Lithuania (€59 million), Poland (€697.5 million), Romania (€1.095 billion) and Slovakia (€35 million).

The supported projects focus on the generation of electricity from renewable sources, the use and deployment of renewable energy sources, the modernisation of energy networks and energy efficiency.

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